Leon Shapiro’s recent “How to Improve Your Organization’s Succession Planning” in Executive Street: The Business Leader’s Resource, reviewed the state of succession planning among many business organizations. Mr. Shapiro’s article noted the near universal recognition of its importance among business leaders, yet their confession that in many cases not enough is done for
There is a Lot More to Law Firm Succession Planning Than Just Planning
A recent ABA Journal article reported on the demise of a successful law firm that had been in business for 60 years. The story about Harding & Shultz of Lincoln, Nebraska noted comments from one of the senior partners whose departure from the firm allegedly contributed to its demise. Seems that the senior partner, still
Establishing Standards For Growth – A Key to Building a Better Law Firm
The number one factor in determining the day-to-day joy in one’s work life is the culture of the organization of which you are a part.
Savvy law firm leaders know this; and they apply serious standards to increase the probability that everyone that becomes part of the organization makes a positive contribution
Law Firm Departures: A Likely Source of Disputes
Most law firms approach their practices optimistically-with a kind of “glass is half-full” outlook. Getting business, building client relationships and creating a brand typically are a firm’s focus rather than thinking about failure or disaster. That is especially so when law firms form. Future developments like mass departures or dissolution usually do not enter into
Is Your Law Firm Choosing Bigger Over Better?
As an interested observer of the legal landscape, there are three baseline realities that are especially interesting to explore:
• The rapid rate of law firm growth through mergers and lateral additions;
• The rate of law firm failures; and,
• A continuing level of unhappiness in the profession.
Given these three somewhat extreme
Succession Planning at the Smaller Law Firm-Getting it Done
It is no wonder why a lot is written about law firm succession planning. Transferring a law firm onto the next generation so the institution endures is the ideal for most but unattainable for many. Sue Remley’s Succession Planning: How to Hand Your Law Firm to the Next Generation presents the issue clearly and
Succession Planning at the Smaller Law Firm-A Bigger Challenge
In a recent article in The National Law Review about law firm succession planning, Sue Remley offered some great analysis. Ms. Remley’s Succession Planning: How to Hand Your Law Firm to the Next Generation makes the important point that succession planning at law firms is vitally important and should not be ignored. She goes on
Law Firm in Crisis-Five Things to Know and Remember
Law firm crisis can pop up at anytime during the year, but if it had a “season” it would be early on in the calendar. As I wrote in Like Divorce, Law Firm Crisis is More Likely as the New Year Starts
, the beginning of each year is when key lawyers cut and run,
Year End At the Law Firm-When the Best Laid Plans Can Go Astray
As law firms work their year-end activities, there is much to do. Collecting bills, awarding bonuses, budgeting for the coming year, promotions, evaluations, and in some cases, compensation setting, are among the things on law firm agendas. Focused firms also begin, continue or complete identifying their strategic imperatives for 2015 so that the New Year
Big Bonuses and Robots-Today and the Future
As 2014 draws to a close, there have been more than a few reports of generous associate bonuses at some well-known firms. In an industry that has had its share of challenging economic news since the Great Recession, news of these bonuses is a welcome change. While the increased bonuses are positive, especially for