A key lever for improving profitability in any legal practice is delegation.
From partners to associates, from associates to paralegals and PAs.
I advocate for this a lot in my work with law firms because it generally increases operational leverage and profitability of both the matter and the practice group.
We also dedicate a fair few pages on how to effectively delegate within The Legal MBA.
It's important to get right, but it can't be done in isolation.
It only works if, as the higher cost resource (e.g. the partner), you can better utilise the time freed up by delegating, such as by:
Winning more work / business development, to grow fee income
Delivering higher value client work, to increase team profitability
Spending more time with the kids, to trade off higher profits for quality of life
These are all valid, but delegating existing work to others without a clear view on what you're trying to achieve with the time you free up may prove counter-productive.
Make sure you're clear on your goals, before working out which tasks to delegate.
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