Firm culture can sabotage your success as managing partner

Managing partners often struggle to measure the extent to which they have been successful in the role. Their impact on the firm's revenues, profits, number of lawyers and geographic spread tends to be considered most important. An often-overlooked measure of success is the way a managing partner has positively influenced the firm's culture. The way your people treat each other can make or break any strategic growth plans.

Rising short-term profits are rarely enough
to retain high performers when they are unhappy with the way things are done in an organisation. Countless top-ranking partners have left high-growth firms to establish successful and durable practices at firms that have cultures and values which are more compatible with their own.

What does the way your people treat each other say about your firm's culture? Do they willingly give support and take advice from colleagues? Do they act as sounding boards for the development of each other's thoughts? Do they view the successes of their colleagues as a threat to their job security or income? What does your firm do to encourage people to be personally invested in helping each other?

Internal relationships are key to retaining both talented lawyers and high value clients. Without support from each other, your fee earners will struggle
to provide clients with global legal solutions, no matter how many mergers or acquisitions you facilitate.

A vital component of delivering high-quality and high-value global client services is internal knowledge sharing. Your firm's culture is a big determinant of whether people will help each other and, in turn,
allow others to help them. But, people are unlikely
to give their full support to colleagues in other practice groups and offices unless they have built trusted and reciprocal relationships with each other.

Changing an inherently 'me first' organisational culture requires stakeholder commitment and leadership by example. All staff will need to receive a consistent message about 'the way things will be done around here from now on'. Training on active listening skills could also help to foster a more supportive rather than an adversarial approach
to working together.

Of course, a big part of embedding a cultural change programme is measuring and rewarding appropriate behaviours. Penalising inappropriate behaviours (regardless of rank or stature) is equally important to ensure clear expectations are set.

Cultural change is always a challenge, but the benefits are worth it: greater recruitment and retention, client satisfaction and, ultimately, business growth. These things can only reflect well on you as managing partner and stand your firm in good stead as an employer and a service provider in the years
to come.

Until next time,