Successful Succession Planning For Law Firms
August 16, 2004
Succession planning is one of those management issues that rarely gets much attention until a senior partner or rainmaker announces plans to leave or retire ' and then the firm goes into crisis mode.
News Briefs
August 10, 2004
Highlights of the latest franchising news from around the country.
Health Savings Accounts
August 02, 2004
Starting in 2004, law firms have another option in attempting to mitigate rising health insurance costs. Recently enacted Health Savings Accounts (HSAs) offer law firms and their employees a tax favored vehicle to pay for medical expenses.
The 'Best Of' Women in Law Programs
August 02, 2004
This is the second half of the article that appeared in our special July/August Women and Diversity issue. Women in Law initiatives and programs are not a new phenomenon. Many firms nationwide have programs that afford their women attorneys business development, mentoring and career counseling. In writing this article, we spoke to ten different firms (see insert which lists the firms in the order in which they are profiled in this article) to learn the how's and why's of their women's initiatives. In Part 2 we have profiled the last five firms.
The Success Of Demand-Driven Training
August 02, 2004
Consultant David Maister has observed: "Training is a great last step but a pathetic first step. It is sensible to make training available when the professionals are already convinced that they need a new skill, but you can't change people by first putting on a training program." <br>Jenkens & Gilchrist, a 500+ attorney national law firm with nine offices from New York to Los Angeles, has proven Maister right with our Women's Marketing Group. Now in its second year, the Group had its genesis with a female attorney who saw the need for business development mentoring and better communication among her peers throughout the firm. Her idea, developed with the support of a key Board member and with my help as an in-house marketing professional, has expanded to include a quarterly series of firm-wide videoconference meetings for female partners and associates, related business development activities, and an Intranet Marketing Library that we help the attorneys grow themselves.
Defining 'Spousal' Benefits
July 27, 2004
Recent moves by various cities, states, and municipalities to legalize or ban same-sex marriage have generated a flood of press, but little concrete advice as to the potential implications of these laws and related court rulings. The dearth of specific and actionable analysis of the implications of these shifts in the law places law firms, as well as most large enterprises, at a competitive disadvantage by forcing them to react as these laws change. This issue is an especially pressing one for large law firms with offices in many states because the definition of "spouse," and thus the availability of "spousal" benefits, may differ in diverse localities.
Mentoring Is Good For Law Firm Profitability
July 27, 2004
As a first year associate at a large law firm, I once asked a very successful junior partner the secret to his success. His response ' also the title to a Harvard Business Review article ' was: "Everyone who makes it has a mentor." That's when I noticed that he did indeed have a mentor ' a close working relationship with a very senior partner, who taught him how to achieve success in a law firm environment. Now, as a legal search consultant, I find that mentors are an increasingly important part of law firm life. Mentors boost overall firm profitability by helping associates ' among the firm's most valuable resources ' succeed. In fact, associates with long-term mentors are more likely to make it to the coveted partnership ranks. Thus, mentoring improves recruiting, aids in associate retention, and can ' if properly utilized ' promote workplace diversity. Simply put, firms with successful mentoring programs can gain material marketplace advantages.
Practice Groups Lead To Better Management
July 27, 2004
The evolution of law firm management has been slow and deliberate, usually built around established business management models. For most firms, the model is flat: A few senior-level administrative managers work closely with the partnership's executive management and make most of the decisions. But recently, several firms have adopted a new management model: practice group administrators.
Sabbaticals Benefit Both Firms and Partners
July 27, 2004
A steadily increasing number of law firms are offering partners the opportunity to take a sabbatical. A few firms are even requiring them to do so. And more lawyers are taking them. It's a "win-win" situation.
