Marcie Borgal Shunk.
There is a crisis brewing in law firms. In an era of volatility and transformation, law firms are now, more than ever, reliant on their culture, vision and operational approach to drive performance—all of which, at their core, rely on effective leadership. Multiple recent longitudinal analyses of the AmLaw 200 illustrate this connection, repudiating that size alone creates an advantage. Few firms, however, have the processes, tools and structure in place to develop and select the best leaders for their organizations. Moreover, the most revered leaders in law firms may not be those who have significant, positive, long-term impact on their firms.
The reasons for this crisis are many and varied, but perhaps the most salient is in the qualifications partners look for when electing representatives to lead the firm. Primary among these is an individual’s prowess as a rainmaker and overall smart lawyer. Compound this with election cycles maligned with financial performance trends, little to no formal experience running a complex business and poor transition and succession planning, and it sounds somewhat miraculous law firms have made it this far. Yet they have; and perhaps it is less surprising in context.
