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Every firm eventually finds itself in need of a new leader, which means the executive committee or board must seek to replace the incumbent.
Concerns over leadership succession and loss of expertise are among the biggest fears cited by current law firm leaders. But surveys show that many firms are doing little more than talk about the problem. Even where firms do have a succession plan in place, this is often found to be based on assumptions with strategic gaps and no realistic contingency plans. The result is that when law firm leaders leave abruptly, firms are thrown into chaos.
The Changing of the Guard is a highly practical step-by-step guide to the various phases that law firms need to work through in a firm leadership selection process, from choosing a nominating committee and setting a timeline, through to analysing candidates' strengths, and transition processes.
Patrick McKenna is an expert on law firm management and strategy issues and is internationally recognised and acclaimed for his work. This report contains a complete framework for law firms to use when developing an effective and coherent process for succession planning.
Read valuable insight from newly appointed law firm leaders on the succession process within their firm, which highlights the challenges these leaders faced and includes advice for firms about to embark on a similar process. Gain contextual knowledge from research and surveys conducted by Patrick McKenna with law firms over the past couple of years.