The billable hour has long been a staple of American legal practice. Over the years, law firm billable hour requirements have risen from around 1,700 to over 2,200 a year, forcing lawyers to work 60 hours or more a week. Overworked, depressed lawyers are heading for the door.

Law firms are finally taking steps to stem the mass exodus. A recent New York Times article outlines how law firms are reexamining the billable hour and creating new, flexible work arrangements and compensation strategies. These innovative solutions include pay based on revenue generation, tiered pay scales, reduced hours, shared job arrangements and expanded parental leaves for both men and women. An increased use of flat-fee arrangements (billing one set fee for the entire case or transaction) has also decreased the emphasis on billable hours. This is great news for lawyers, both young and old, who are eager for a saner work schedule.