Our last blog post, “Law Firm Partnership Part 1: Do True Partnerships Still Exist?” explored the changes that have occurred in the partnership model in recent decades and the core aspects to healthy partnerships. In this post, we will examine the qualities needed to advance to equity partner status and what it takes to be…
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Citi Private Bank has released its third quarter report on law firm growth and it indicates a slow-down since their mid-year report. The following findings are important to note: Demand was nearly flat at .3% Revenue growth other than due to billing rate increases was only .3% Firms have seen an increase in compensation expenses…
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Leadership is not a title or a position. The best leaders have developed competencies that enable them to drive their firms forward, think conceptually and strategically and effectively build and rely on teams and networks. According to the 2016 Deloitte Global Human Capital Trends report, eighty-nine percent of companies see leadership as an important or…
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Recent surveys show that less than a third of law firms have a formal retirement or succession planning process in place. Those that have one tend to focus more on retirement age and phase-down compensation approaches usually with a focus only on a few partners expected to retire within two to five years. A much…
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