Modest attrition at law firms is to be expected-it happens continually and few firms are exempt. But when the lawyer departures spike, or the particular resignations are from your most important lawyers, management must respond quickly.
Lawyer departures don’t just happen for any reason. Unexpected and damaging departures often can be traced to problems a
Unexpected lawyer departures from a law firm are a far too common occurrence as noted by Above the Law’s recent reporting on K&L Gates. It can happen at any time during the year but many times peaks around the end of a fiscal year. Whether it be disappointing financial results, political infighting, loss
Growth among law firms generates headlines. Legal publications report on a merger here, a planting of a law firm flag there and the lateral moves of significant practice groups. The thing about growth is that it is a planned exercise-an initiative that is a matter of choice based on strategy. The opposite of growth, a
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
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
Law firm mergers seemingly are announced weekly and continue a trend as to which most observers are accustomed. Just last week Locke Lord and Edwards Wildman Palmer jointly announced the signing of a letter of intent to combine their two firms. Not all law firm mergers are marriages of equals, or instances when the strategic
In a recent post about law firm succession planning, I observed
“Succession planning and execution in 2014 is far more difficult than it was a decade or more ago. It is not that it is harder today to identify credible candidates to succeed existing leadership; searching for the best talent is a task that has
