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It's Time for Some Attention to Partners
It is hard to spot amid all the publicity about new models for managing associates, but a second change in how firms manage their talent is also underway. After years of focusing on associates, law firms are beginning to realize that they need to pay more attention to their partners. The change has been slow, and most firms still take a “sink or swim” approach to their partners' careers. But more firms are concluding that the old approach has become too risky, because the waters in which their partners swim are too rough and their individual success is too critical to the firm's overall success. Over the next decade or two, the firms that act on this insight are likely to gain a significant competitive advantage.
If a firm wants to pursue this advantage, what should it do? To answer that question, this article draws on a recent survey of more than 500 partners in 44 major firms in the U.S. and Canada whom their firms identified as successful. (The survey was conducted by Tim Leishman and Steve Armstrong of Firm Leader and David Cruickshank of Kerma Partners.) It explored the participants' development after they became partners, the skills they regarded as most important to their present and future success, and the obstacles they saw in their paths.
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