Planning for Succession Planning

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Succession planning is one of those management issues that often does not get attention until a senior partner or rainmaker announces plans to leave or retire – and then the firm goes into crisis mode.

A smart law firm will plan for a broad spectrum of issues associated with senior-level partners’ departure from practice, before that crisis occurs.  These issues may include: client service and client relationships; practice skills and expertise; firm governance and leadership roles; or functional management roles and experience.  Many of these issues are long-term in nature.  It can take years or decades to build new client relationships to replace outgoing expertise, or to develop new people for key governance roles.

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