Free Market Evaluation - Send us your resume and we will give you free feedback
Sexual Harassment Claims Against Law Firm Settle
Sexual Harassment Claims Against Law Firm Settle
University of New Mexico Law School Reveals Higher Employment Rates
University of New Mexico Law School Reveals Higher Employment Rates
Tentative Settlement Reached with Uber for Family of Killed Girl
Tentative Settlement Reached with Uber for Family of Killed Girl
Washington, D.C. Attorney Arrested for Child Porn Allegations
Washington, D.C. Attorney Arrested for Child Porn Allegations
Legal Job Listings
Download PDF

Law Firms Urged to Create Succession Plans View Count: 88

A principal from the firm of Altman Weil said that the fear of alienating clients since the recession has become a major fear of law firms, causing them problems with implementing succession plans within their firms. The principal, Alan R. Olson, said, “I’m still seeing firms planning only effectively at the last minute.”

What

 job title, keywords

Where

 city, state, zip



Olson told Reuters that without proper leadership transition plans in place, law firms could see gaps in expertise and a loss of relationships with clients. He said that firms need long-term plans in place that can take effect over a span of five years. These plans can help clients transition to new lawyers within the firm.

Olson said that the plans are critical because firms are seeing 30 to 40 percent of practicing lawyers are beginning to retire in Canada and the United States. Olson said that firms should begin talking about succession issues by figuring out the inventory of their practice areas within their firms.

Get JD Journal in Your Mail
Subscribe to our FREE daily news alerts and get the latest updates on the most happening events in the legal, business, and celebrity world. You also get your daily dose of humor and entertainment!!




“Talking with senior lawyers, many of whom might be at their peak in terms of performance and productivity, can certainly be uncomfortable for an individual lawyer, but that’s a barrier that needs to be crossed,” said Olson.

“Doing so in a planning context doesn’t remove all the discomfort, but there’s a better chance to create a win-win-win outcome for clients, the firm and the individual.”

Law Firms Urged to Create Succession Plans by

Tagged: , ,

Posted by on February 13, 2013. Filed under Home. You can follow any responses to this entry through the RSS 2.0. You can skip to the end and leave a response. Pinging is currently not allowed.

 

 

Related Posts: