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Partners May Hold the Key to Transforming Their Firms Into Sought-After Opportunities
By Marcie Borgal Shunk
Glaring statistics about associate retention, dismal track records with lateral hires and the revolving door of C-suite professionals shine a harsh light on Big Law workplaces. In high-stakes environments, harbingers of attrition may be lurking in even the most welcoming cultures. Gallup studies attribute most variability in engagement to “middle managers.” Within law firms, this suggests partners may hold the key to transforming their firms into sought-after opportunities with staying power.
Yet not all partners have the skills they need to take on the role of people management and development (let alone the mandate or predisposition). Traditional models of lawyer development — apprenticeship or osmosis (a.k.a. sheer proximity will result in growth) simply didn’t account for teaching how to motivate or develop others. Nor did they place the burden on partners, but instead encouraged the most ambitious of associates to forge their own path.
Times have changed. Structural, generational and workplace trends are redefining the professional development landscape. There is a new model emerging — one which recognizes the value of human skills in client development and talent retention and acknowledges the firm’s responsibility in helping budding lawyers build these skills. Yet today’s partners, raised by wolves (OK, perhaps not quite that dramatic), typically have notable gaps in the areas most needed today. One area, in particular, few get the training they need to be most effective in leadership.
The DOJ's New Parameters for Evaluating Corporate Compliance Programs
The parameters set forth in the DOJ's memorandum have implications not only for the government's evaluation of compliance programs in the context of criminal charging decisions, but also for how defense counsel structure their conference-room advocacy seeking declinations or lesser sanctions in both criminal and civil investigations.
The DOJ's Corporate Enforcement Policy: One Year Later
The DOJ's Criminal Division issued three declinations since the issuance of the revised CEP a year ago. Review of these cases gives insight into DOJ's implementation of the new policy in practice.
Use of Deferred Prosecution Agreements In White Collar Investigations
This article discusses the practical and policy reasons for the use of DPAs and NPAs in white-collar criminal investigations, and considers the NDAA's new reporting provision and its relationship with other efforts to enhance transparency in DOJ decision-making.
Bankruptcy Sales: Finding a Diamond In the Rough
There is no efficient market for the sale of bankruptcy assets. Inefficient markets yield a transactional drag, potentially dampening the ability of debtors and trustees to maximize value for creditors. This article identifies ways in which investors may more easily discover bankruptcy asset sales.
A Lawyer's System for Active Reading
Active reading comprises many daily tasks lawyers engage in, including highlighting, annotating, note taking, comparing and searching texts. It demands more than flipping or turning pages.