I know that a managing partner is appointed to lead and run a law firm and should do just that – get on with the job. However, there are many things that a firm must in turn do, ideally up-front, to assist their newly appointed managing partner and to give him or her a fair shot at making a go of a very challenging and sometimes trying role. Leaders, particularly new ones, are real people and need real help and support. Wise firms put this in place.
The problem is that due to the strange animal that is the law firm partnership or equivalent, most firms don’t really get involved to implement just a few basic steps that can serve to make or break a managing partner, or at least increase the chances of success and his or her maintaining some semblance of normal life. The right steps taken up-front, and a few carefully thought-through foundation-stones laid, can make his or her life so much easier and get a much better outcome for all concerned.
Partnerships have this strange view that because they have chosen someone from their ranks who they believe has the credentials to lead (and usually does) that this is the end of the matter – the new incumbent can and will sort out any teething snags or issues arising in relation to the role and will simply work out work and time pressures and so on. The problem is that most new incumbents believe this as well. They don’t want to undermine the partners’ confidence in them or give any indication that they are struggling and need help.
It is not a good combination and can quite unnecessarily lead to a bad outcome, and be tough on the managing partner. It is fair to say that the root causes of many managing partner roles not panning out can be traced back to what is or is not done in these early stages.
What are some of the challenges faced when a new managing partner is appointed?
- a fear by the managing partner he or she will, over time, lose a highly successful practice;
- a fear (by the incumbent and the firm) that the managing partner may never re-build a practice after the role and may be left high and dry. This can cause all manner of defensive behaviours which can work counter to making a success of a leadership role;