In May of 2023, I (Mike) tried to raise awareness of the challenges of navigating generational changes by focusing on the impact on partner compensation… The post Navigating Generational Friction in Law Firms appeared first...more
4/29/2025
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Succession Planning
Well, 2024 flew by, didn’t it? This was a year of sometimes very long days bundled together into fast weeks and even faster months for many. We now find ourselves ready to close another 12-month chapter, take a quick...more
Do you want to see something scary? Borderline terrifying? Foreshadowing of major, inevitable changes in the practice and business of law? Take a look at this horror-show of a chart from the Thomson Reuters Institute &...more
It seems like most discussions of law firm productivity these days – from Partners to paralegals – include references to declining billable hours, which are further extended into comments on declining work ethic. Sadly, such...more
As we all gaze into our crystal balls and try to predict what will happen in 2024 with any degree of certainty, our views are pretty hazy. Think back to this time last year, which was filled with much handwringing,...more
Much has been written about the pressures developing, both within law firms and more broadly, due to the dramatically different perspectives and expectations across generations. These pressures continue to develop at a...more
I’ve seen a few merger negotiations recently that really caught my attention because they may foreshadow a new type of law firm merger – a pure talent grab. Interestingly, none of these discussions resulted in an actual...more
Something interesting is happening in the world of law firm merger matchmaking and due diligence. Specifically, the order of importance for the key components of the vitally important compelling business case is shifting for...more
In 2018, I posed a list of rhetorical questions for law firm leaders to consider in the coming year. I hope most leadership teams have addressed those questions because, as the business model evolves and the challenges grow...more
For months, every law firm leadership team has been navigating completely uncharted waters with respect to the impact of the pandemic on the practice of law, the business of law, and the mental health of lawyers and staff who...more
The law firm world is facing serious consolidation pressures right now. Public numbers on “closed” deals would suggest to any uninformed reader that all the hubbub is about really large firms acquiring really small firms,...more
To say that we are in a period of change and transition is an understatement. About a year ago, we all went home, the IT professionals in all law firms proved they were worth their weight in gold, and most law firm...more
As a result of the global pandemic and the impact that it has had on law firm operations, platforms, and business models, there is a rapidly developing competitive threat that could, particularly in small markets (by...more
I recently wrote about the outcomes of our most recent 30 law firm merger & acquisition projects within the context of a clear uptick in activity and our prediction of increased activity over the next few years. Within that...more
In our recent analysis on The Legal Marketplace in a Post-COVID World, we predicted a significant uptick in law firm merger activity once the immediate medical crisis was brought under control. For larger firms, this will be...more
In our COVID-19 Recovery Playbook, we provided our thinking for firm leadership on how to manage through the current crisis. In this four-part continuation of that work, we examine where and how the industry may be shaped by...more
Before the calendar slips too far into the new year, I want to share five important emerging trends or steps for law firm leaders to consider in 2020, each of which will have significant short and long-term implications for...more
In the course of our Partner Compensation System work, we have seen many law firms that allow origination credits to be “shared” for purposes of both financial reporting and compensation-setting. Of course, the goal is to...more
Talk of transitions and succession planning is something we are all familiar with right now. The demographics within many law firms make these areas of focus critical for future success. While most of these conversations...more
As suggested by the question marks in the title, this following post is intended to be a thought-piece…not a recommendation for the entire legal industry.
Most law firms I know do not offer sabbaticals as a benefit to...more
On a recent business trip to Latin America I witnessed an interesting everyday event that directly speaks to the value of leadership when dealing with a group of strong personalities. As I was walking along a park I saw a...more
Rhetorical question – a question asked solely to produce an effect or to make an assertion and not to elicit a reply (dictionary.com)
The business of law continues to change dramatically and law firm leaders constantly...more
Many law firm leadership teams are making key decisions today that will determine the long-term success or failure of their firms. The current mix of pressures on the rapidly evolving legal business model (e.g., client...more
In my last blog I posed a simple question – is your firm’s culture putting your firm at risk? My thoughts at that time were built entirely from the law firm perspective and were focused on internal issues and lawyers’...more
While I acknowledge the vital role that culture plays with respect to defining each law firm’s working environment, creating expected behaviors, and establishing a “glue” among the lawyers, I am increasingly seeing law firms...more