Crisis - Warnings and Opportunities

Virtually every day, the news includes reports of additional law firm closures, layoffs, and compensation reductions.

What is driving these decisions, and what does it mean for your firm?

Without question, catching any developing problem early makes it easier and less traumatic to take appropriate action, increases confidence in management, and enhances the likelihood of

In the turmoil caused by Covid-19, many law firms have had to adjust to unforeseen circumstances.  News stories tell the sad tale of law firms being adversely impacted.  Some firms have closed, and unfortunately others will follow.

With one firm’s demise comes opportunity for others.  Clearly, personnel leaving the firm in wind-down must find homes

Virtually all law firms have had to adjust business practices to address the pandemic’s impact.  Whether working remotely, refocusing or changing firm economics, making personnel moves, or partnering with clients more, today’s challenges have fundamentally changed the way law firms operate.  For the law firms grappling with too many upheavals in their world, crisis looms.

In a conversation last week, a friend who is a partner in an AMLAW 100 firm told me that he received a record number of calls from search firms during the previous month. In a separate conversation last week, a Managing Partner client noted the incredible number of calls she was receiving pertaining to hiring

“If you throw a frog in a pot of boiling water, it will hop right out. But if you put that frog in a pot of tepid water and slowly warm it, the frog doesn’t figure out what is going on until it’s too late…” Stephenie Meyer

Much like the boiling frog, if a

Thoughts on Navigating a Law Firm (Coronavirus) Crisis – continued.

Experience tells us that crisis in law firms can happen fast.  Once presented, its consequences can race past leadership’s ability to effectively respond and leave a firm reeling.  Whereas crisis traditionally caused by lawyer departure, client loss or revenue decline has often been predictable