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Evaluating leaders: Getting the most value out of managing partners

Managing partners who are evaluated in the same way as their partners are more effective managers and leaders, says Joey Smith

16 February 2015

In a recent issue of Managing Partner, Brian Schwartz laid out a complete roadmap for evaluating and compensating managing partners.1 He dealt with many challenges that confront managing partners on a day-to-day basis. In particular, the article identified issues that firms generally fail to recognise, such as the importance of motivating a managing partner towards certain behaviours.

Today's law firms need strong, dedicated leadership. To ensure that type of leadership, firms must decide what is important and, more importantly, ensure they communicate those priorities to the managing partner. Schwartz talked about goals, evaluations and compensations. Surprisingly, the most difficult part of implementing his plan may be convincing firms to evaluate the performance of their managing partner.

Most firms have no formal method of evaluating their managing partner. It just does not exist. Some of the absence can be explained by a lack o...

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