Case Study 5
Managing Partner Coaching
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Managing Partner of full-service firm in business for 32 years, with 17 partners, 4 of counsel, 10 associates, and 26 staff.
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53 years old, with the firm for over 20 years, in the managing partner role for 3 years.
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Client faced the following challenges:
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Conflict among partners​
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Underperforming partners
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No succession plan in place
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Trying to balance administrative responsibilities with client development and managing her practice
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Associate attrition
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Vetting lateral hiring opportunities and acquisitions
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Stress management
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Work/Life Balance
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1
Assessment
We kicked off the coaching engagement with a half-day planning planning session during which we:
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Discussed personal and professional challenges and opportunities​
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Identified her personal mission, vision, and values
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Articulated the firm's mission, vision, and values
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Assessed her leadership skills and abilities
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Addressed individuals and situations perceived to be obstacles to her success as a leader and to the firm's ability to grow
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Set personal and professional goals
2
Alignment and Implementation
Following the planning meeting, we created a coaching plan that included objectives, goals, metrics, and timelines to provide direction and accountability. The goals and action steps were designed around the MP's highest and best use (the best way to align her skill sets and personal goals with the firm's expectations of her). We held monthly coaching sessions that provided her with guidance, advice, brainstorming opportunities, and support.
In addition to our regular monthly calls, the client frequently reached out to us for real-time assistance with crisis management, handling partnership conflicts, idea sharing, vetting potential acquisition and lateral hiring opportunities, and strategy discussions. These timely conversations provided her with a fresh perspective as well as much-needed moral support.
3
Measuring Results
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The client spearheaded a comprehensive succession planning discussion and subsequent plan to facilitate the retirement of 6 partners with a detailed transition process.
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She was able to successfully transition some of her own clients to junior partners.
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For the first time since she became the managing partner, the client was able to take a 10-day vacation with her family with limited interaction with the office during her absence.
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She stepped off of 2 charitable boards that required much of her time to focus more on her firm leadership responsibilities, internal mentoring, and personal time to take care of her mental health.
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The client took a more active role in the recruiting process, forming a task force to target lateral associate hires from the community. This led to 2 qualified hires with no recruiter fees, saving the firm $75,000+.
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She instituted a regular cadence of partnership meetings focusing on building trust and holding them accountable for their administrative and financial contributions to the firm. This improved overall billing by 28%.
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She avoided a disadvantageous and potentially disastrous merger opportunity.
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FIRST YEAR PROJECT OUTCOMES:​​​​
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More time with family and better stress management.
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Improved relationships among partners, reducing tensions and encouraging a focus on solutions, not problems or criticisms.
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Her clear vision and more hands-on leadership improved firm culture and morale, and promoted more accountability among the lawyers and staff.
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Measurable improvement in recruiting and retention of attorneys.
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Enhanced profitability throughout the firm.
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Better client outcomes through the assignment of junior partners with more time to dedicate to their matters.