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"paying their way" as soon as possible. While this last solution is perhaps a more delicate, not to mention political, matter, the first two solutions represent a goldmine for knowledge management. Knowledge management should be instrumental in providing the tools that enable firms to offer clients fees structures that are not based on hourly rates — and consequently where time spent by junior associates does not have to appear on an invoice in a way that is offensive to a client. The tools to which I refer are not simply strong models and precedents but also data on past billings and fee structures that enable firms to gauge the amount of time a certain file would take to complete and a reasonable estimate of the cost. A second space that knowledge management should occupy with respect to junior associates is training. An effective way of countering a client's perception that it is paying to train associates is to provide highly trained and business savvy associates rapidly so it does not appear those lawyers are being trained at the client's expense. This is not simply a question of weekly "lunch and learns," hopefully accredited by the local bar association, but of a rigorous "law firm university" type program in which recruits receive systematic training on practical aspects of their job, their firm's culture, and what practices are marketable for a given sector. Developing the content for these programs is a role that knowledge management should assume. Tracking the success of this type of learning is possible as illustrated in Donald Vanthournout et al's Return on Learning: Training for High Performance at Accenture, a book that discusses the model put in place by Accenture and the formula used to demonstrate the effects of a solid education program on workforce productivity and profits. As an aside, an additional and often overlooked advantage of a strong education and training program remains its ability to attract and retain talent. A study quoted in Return on Learning found, on average, employees were attracted to an employer and willing to accept a salary 13-per-cent lower than that of a competitor based on the per- ceived excellence of learning opportunities. This number should be attractive to any business. This article is not intended as a criticism of first-year associates or as a hard sell for knowledge management. Both topics, however, frequently suffer from a similar perception in the eyes of management: that of being sunk costs. A firm that promotes and measures the effect of education on its employees Osgoode's Professional LLM in Bankruptcy & Insolvency Law could arguably turn knowledge management and new associates into profit rather than cost centers. Danielle Olofsson is a knowledge management lawyer at Dentons Canada LLP in charge of civil law. She has practised law in Montreal, Paris, and Stockholm and is a member of the Quebec and Paris bar associations. She can be reached at danielle.olofsson@dentons.com REFLECTING ON YOUR SPECIALTY REFLECTS WELL ON YOU. Enhance your expertise – and your value – by focusing on what interests you most. Taught by leading academics and top practitioners, our Professional LLM in Bankruptcy & Insolvency Law offers you the unparalleled flexibility to study with a network of your peers while working full time. STUDY ONSITE AT OUR CONVENIENT DOWNTOWN TORONTO FACILITY, OR VIA VIDEOCONFERENCE FROM ANYWHERE AROUND THE WORLD – COURSES INCLUDE: > Perspectives on the Insolvency System > Lending, Security and Insolvency Law > Behavioural Economics > Reorganizations and Restructurings > International Aspects of Bankruptcy and Insolvency > Priorities and Priority Claims in Bankruptcy > American Bankruptcy Law DIRECTOR Stephanie Ben-Ishai Associate Professor, Osgoode Hall Law School Affiliated Scholar, Davies Ward Phillips & Vineberg LLP Professional legal education the way it was meant to be. To learn more or to register for an Information Session, visit www.osgoodepd.ca today. A WORLD LEADER IN LAW SCHOOL LIFELONG LEARNING Limited Spaces Available. Apply now for Fall 2013. www.CANADIAN ntitled-2 1 > Consumer Bankruptcy Issues and Policies L a w ye r m a g . c o m June 2013 19 13-05-17 10:47 AM

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