Purposeful leadership is essential for firms seeking to position themselves at the forefront of the next era of the legal industry evolution.
Change is inevitable. Flat demand for traditional legal services, continued pressure on expenses in an environment of uncertainty debunks any myth that law firms can go on as they always have.
Leaders must be equipped with the knowledge, foresight and resources required to propel their firms into the next generation of legal services. In addition to casting a compelling vision of the future that others willingly follow, they must embody specific leadership traits essential for transformation. Like no other time in their history, law firms need a provocative strategy that not only responds to client demands in a rapidly changing industry, but anticipates the future, clearly seeking its purpose. We believe this can be accomplished by leveraging talent assets to differentiate oneself from the rest.
In a recent Client Advisory, Hildebrandt Consulting LLC and Citi Private Bank predict continued modest growth in an environment consistent with post-recession years.
“Requiring strong and visionary leadership, a high caliber management team, and each partner’s commitment to hard work and profitability, the most successful firms will focus on adapting their business, leverage and partnership models to operate more efficiently and grow revenue under these challenging market conditions.”
The Advisory predicts that the market will reward firms “who focus on operational efficiency in its broadest sense – not just managing expenses, but transforming the way they run their firms and deliver legal services.”
The firms who embrace this opportunity and commit to purposeful leadership will seek talent who embody the following traits:
Quest for Transformation
Fill your team with individuals who embrace change and become bored with the status quo. Leaders driven by this quest, face challenges with an open mind and remain calm and true to the greater purpose even under adversity. Transformational change is hard work and is not for the faint of heart. It takes endurance, perseverance and commitment to stay the course.
Developing these talents within your firm’s culture and leadership team requires intentional actions as part of an overall talent development strategy. Our Advisory Services respond to the need for firms to attract, develop and equip leaders to confidently take their firms into the future.
This article was authored by Calibrate Legal alumna Carol E. Crawford, SPHR, SHRM-SCP