In the next few years, huge numbers of lawyers will begin reaching retirement age, a phenomenon that will leave many law firms without their founding partners or other longtime leaders. Today's firms need to plan for the future and identify tomorrow's leaders among the ranks. "You've got to find people who are interested in seeing the firm prosper," said Judith Lockhart, managing partner of Carter Ledyard & Milburn.
April 23, 2007 at 12:00 AM
1 minute read
Adding to that exodus are the skyrocketing associate attrition rates and increased lateral defections that have created an ever-shifting workplace where the chance for new opportunities often trumps law firm loyalty.
The upshot is that many of today’s law firms have a real problem with planning for tomorrow.
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