Page 40 - Leaders in Legal Business - PDF - Final 2018
P. 40
and to uncover insights that help develop options for a solution to the issue in the steps that
follow.
Depending on what needs to be done, this element may simply take the form of a
structured management interview, though additional assessment work is likely (financial, client,
process, culture, talent, etc.). Even our best-structured assessment tools need to be tailored to
each law firm in order to accommodate its unique features, and often to accommodate the lack of
sound management information that goes beyond basic financial data.
For a major project that seeks to change how partners operate the business (and their
practices) or to help a partnership make fundamental decisions about their future, we usually
encourage that partners outside the firm’s management are involved early in the diagnostics
process.
If this initial stage discovers that the problem the firm’s management wants the
consulting firm to address isn’t the most important issue, a good consultancy will not blindly
carry through the project that was sold but have a candid discussion with the client about a
fundamental adjustment to project scope.
Second, developing and testing options: Unlike in law, in business there usually is more
than one right answer to a challenge or more than one way to reach a goal – it is the constraint of
resources (partner time and money available for investment) that often helps determine the best
way ahead. Developing different options and testing which option will provide the maximum
benefit to the law firm with the least investment of partners’ cash and time is a better approach
than to provide one solution and ask the partners to accept or decline this single option. In our
experience having worked with major law firms in more than 50 countries, we find time and time
again that most well-meaning initiatives put forth by firm management end up not being
implemented or adopted by partners because firm management concluded on a single path too
early.
Third, involving partners in decision-making: Most readers of this e-book will belong
to law firms with 150 or fewer partners; most if not all partners will know one another and
expect some degree of understanding about what management is doing and why. “Horror stories”
within law firms abound of Big 4 accounting firms where “partners” are employees who are paid
high bonuses but who do not even have a say when their firm undertakes a major merger or
acquisition, let alone a lesser decision to acquire a certain piece of software.
We have seen even the simplest measures fail because an insufficient number of partners
were involved in the creation of the solution. Diversity and social mobility initiatives are a key
example where well-meaning and well-designed initiatives by heads of human resources fail to
be implemented properly and, thus, provide a questionable return to the firm simply because the
partners were merely informed about how that initiative will add value to the firm but are now
sufficiently involved in understanding and shaping how that initiative will change their practices.
The approach that will work best really depends on the size, style, and sophistication of
the firm, and the nature and complexity of the problem. In some cases, a factual and directive
report is all that is required, but the range of issues that a consultancy deals with tends to be
contentious and involve a range of overlapping factors (e.g., culture, governance, and process).
Thus, a bespoke engagement plan will need to be designed that steers over time a course of fact
and opinion gathering; stakeholder (client, staff, partner) involvement; and communication,
which will lead to consensus and usually a vote. The “consultation” is particularly important:
26
follow.
Depending on what needs to be done, this element may simply take the form of a
structured management interview, though additional assessment work is likely (financial, client,
process, culture, talent, etc.). Even our best-structured assessment tools need to be tailored to
each law firm in order to accommodate its unique features, and often to accommodate the lack of
sound management information that goes beyond basic financial data.
For a major project that seeks to change how partners operate the business (and their
practices) or to help a partnership make fundamental decisions about their future, we usually
encourage that partners outside the firm’s management are involved early in the diagnostics
process.
If this initial stage discovers that the problem the firm’s management wants the
consulting firm to address isn’t the most important issue, a good consultancy will not blindly
carry through the project that was sold but have a candid discussion with the client about a
fundamental adjustment to project scope.
Second, developing and testing options: Unlike in law, in business there usually is more
than one right answer to a challenge or more than one way to reach a goal – it is the constraint of
resources (partner time and money available for investment) that often helps determine the best
way ahead. Developing different options and testing which option will provide the maximum
benefit to the law firm with the least investment of partners’ cash and time is a better approach
than to provide one solution and ask the partners to accept or decline this single option. In our
experience having worked with major law firms in more than 50 countries, we find time and time
again that most well-meaning initiatives put forth by firm management end up not being
implemented or adopted by partners because firm management concluded on a single path too
early.
Third, involving partners in decision-making: Most readers of this e-book will belong
to law firms with 150 or fewer partners; most if not all partners will know one another and
expect some degree of understanding about what management is doing and why. “Horror stories”
within law firms abound of Big 4 accounting firms where “partners” are employees who are paid
high bonuses but who do not even have a say when their firm undertakes a major merger or
acquisition, let alone a lesser decision to acquire a certain piece of software.
We have seen even the simplest measures fail because an insufficient number of partners
were involved in the creation of the solution. Diversity and social mobility initiatives are a key
example where well-meaning and well-designed initiatives by heads of human resources fail to
be implemented properly and, thus, provide a questionable return to the firm simply because the
partners were merely informed about how that initiative will add value to the firm but are now
sufficiently involved in understanding and shaping how that initiative will change their practices.
The approach that will work best really depends on the size, style, and sophistication of
the firm, and the nature and complexity of the problem. In some cases, a factual and directive
report is all that is required, but the range of issues that a consultancy deals with tends to be
contentious and involve a range of overlapping factors (e.g., culture, governance, and process).
Thus, a bespoke engagement plan will need to be designed that steers over time a course of fact
and opinion gathering; stakeholder (client, staff, partner) involvement; and communication,
which will lead to consensus and usually a vote. The “consultation” is particularly important:
26
