Topic 110. Independent Research Provides Empirical Evidence of Lexcel's Real Business Benefits
Sir Stephen Lander, Independent Commissioner to the Law Society, conducted research into quality marks. He analysed responses from practices with one or more of the 4 key quality marks; SQM, ISO9000, Investors In People and Lexcel. The firms varied in size and geographical location. The results highlight some of the benefits of Lexcel.
Is Lexcel Useful?
93% of firms with Lexcel described the standard as "useful or very useful". This is a higher satisfaction rating than for any of the other quality marks surveyed. Those firms which described Lexcel as being "not at all useful" amounted to just over half of one percent.
What is the main benefit of Lexcel?
The research examined the range of benefits of Lexcel. According to the survey, the main benefit of Lexcel was as a 'business improvement tool', whilst others highlighted 'improved client care', 'lower insurance premiums' and 'effective risk management'.
Does Lexcel improve client care and risk management
Over 81% of Lexcel firms found Lexcel to be beneficial regarding client care, and 79% found Lexcel to be beneficial regarding risk management. This statistic reinforces the earlier finding from the Independent Commissioner that Lexcel firms generated 40% fewer complaints to the Law Society than other firms.
Does Lexcel reduce PI premiums?
69% of firms found that Lexcel helped them get lower insurance premiums.
Does Lexcel make firms more efficient?
The research also analysed the reasons why practices apply for quality marks: around 50% gave 'to improve practice efficiency', as their main reason for applying for Lexcel, whilst others gave 'to improve risk management' and 'to gain favourable insurance quotes'.
What about IIP, ISO9000 and SQM?
Lexcel seems more compelling than other quality marks. Of firms working towards any quality mark, 73% are working towards Lexcel. The next highest percentage is Investors in People, where only 15.5% are working towards it.
Contact us about becoming a Lexcel accredited practice.
copyright © 2006 j t-w consulting ltd. e&oe.
Law Society registered Lexcel Consultants.