Law firms planning for succession cannot rest easy even when the “next-in-line” process is settled or the next leader selected. No doubt thinking about these things is vitally important for a law firm hoping to weather transition. But it is just part of the task of succession planning.
One area of succession planning given short
While in Seattle with my partner Roger Hayse we stopped by the LexBlog World Headquarters. We enjoyed meeting the whole team and while there, Colin O’Keefe conducted the following interview of me on succession planning.
While in Seattle my partner Andy Jillson and I stopped by the LexBlog World Headquarters. It was great to meet the entire team. Colin O’Keefe conducted the following interview in their offices.
Today, succession planning for law firms is more than finding the charismatic leader who is liked by most. Any new leader (actually, any leader whether new or not) must have the vision to compete in the age of New Law.
Jordan Furlong’s An Incomplete Inventory of New Law is an excellent summary of new players
Succession planning among law firms is uneven-some law firms do it well, some not so well and some not at all. Even the law firms that go about planning for succession won’t always do a good job when it comes to executing on the plan. But because succession of leadership can have serious ramifications, a
Every institution is vulnerable, no matter how great. No matter how much you have achieved, no matter how far you have gone, no matter how much power you’ve garnered, you are vulnerable to decline. There is no law of nature that the most powerful will inevitably remain at the top. Anyone can fall
Last week The Wall Street Journal’s Jennifer Smith wrote about the new reality for law firms as they try to adjust to change in the legal profession. In her Law Firms, Market Pressure and Change: How Soon is Now?, Ms. Smith quotes from an Altman Weil Inc. survey from law firm leaders:
“Firm
Recently, in Staring Down the Catastrophic Claim, Part One and Part Two, I wrote about the difficult issues presented to a firm when a claim of catastrophic dimensions is asserted or threatened. Those posts identified the characteristics that factor into the ability of a firm to survive such a claim. With strong leadership,
When a law firm is challenged by departures, loss of clients, a reduction in business, litigation or other adverse developments, it is troubled. The challenges may not place the firm in dire circumstances, but its situation requires a thoughtful examination of where it finds itself. If justified by the self-assessment, the firm may be
This is Part 3 of 4 focusing on the downside (lunacy?) of the power we have seeded to a single metric — Profits Per Partner. Check here for Parts 1 and 2.
No businessperson will argue the value of metrics when it comes to monitoring development, progress and accountability. Effective measures provide
