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					Why change is necessary
Peter Scott
Peter Scott Consulting
Why adapting to change is necessary

 “It is not the strongest of the
   species that survive nor the most
   intelligent, but the ones who are
   most adaptive to change”

 Charles Darwin
 ‘Origin of species’

              PETER SCOTT CONSULTING
The forces driving change
 The changing needs of clients

  In order to provide clients with what they
  want, law firms need critical mass
    Breadth and depth of resource - people
 - Rise of the national firms
 - Global firms
 - Need for consolidation



                PETER SCOTT CONSULTING
Other drivers of change?
  Technology
  Economic forces
  Globalisation
  Political forces




              PETER SCOTT CONSULTING
Impact on legal profession?

 This will happen to your talent unless……




          TALENT
                                            £




              PETER SCOTT CONSULTING
Are you struggling to
attract and keep good
people?


       PETER SCOTT CONSULTING
Why partners leave law firms
    Personal reasons         1
                             1                       Total number of mentions
                                                 Number of times as 1st or 2nd reason
         Pushed out           2
                              2
       Profile of firm                            15
                                            11
       Equity sooner                  7
                                  4
      Culture of firm                                            25
                                          10
    More opportunity                                        21 25
     Quality of work                                                         33
                                                            21
                                                                        29
            Financial                                              26

                         0             10              20             30                40


                             PETER SCOTT CONSULTING
Do you have mechanisms to
prevent the attrition of high
quality performers?



           PETER SCOTT CONSULTING
If you have lost good people for
any of those reasons…….

Face up to reality




            PETER SCOTT CONSULTING
What is the real cost of replacing people?



   Disruption
   Recruitment fees
   Training of new recruits
   Effect on morale of people leaving
   Loss of relationships/clients




               PETER SCOTT CONSULTING
Face up to your sacred cows




            PETER SCOTT CONSULTING
How to improve your chances?

  Carving up the profits is not a
  substitute for making sufficient
  profits

  Is your average PEP above or below
  the average PEP in your markets?

  - if below, you will be AT RISK

              PETER SCOTT CONSULTING
                       Reward


                                           Performance
Your values
                                           Tracking &
and culture        strategies to            Feedback
              help attract and retain
                  the best people

                                    Training
        Career                         &
      Development                 Development
                  PETER SCOTT CONSULTING
Your values?
 What is valued in your firm?
 Do you reward what you value?
 Do you invest in what you value?

What does it take to succeed at
your firm?


           PETER SCOTT CONSULTING
Do you invest in what you value?
                         Values


                 Skills & Behaviours


         Performance Metrics – Quality /Quantity



                Performance Review


          Closing the Performance Gap


         Learning & Development Strategy
                 PETER SCOTT CONSULTING
                       Reward


                                           Performance
Your values
                                           Tracking &
and culture        strategies to            Feedback
              help attract and retain
                  the best people

                                    Training
        Career                         &
      Development                 Development
                  PETER SCOTT CONSULTING
Reward - focus on the BIG ISSUES

 Align your reward strategies with
   your firm’s objectives

 - to help the firm achieve its
   VISION

 -its ability to COMPETE

              PETER SCOTT CONSULTING
                       Reward


                                           Performance
Your values
                                           Tracking &
and culture        strategies to            Feedback
              help attract and retain
                  the best people

                                    Training
        Career                         &
      Development                 Development
                  PETER SCOTT CONSULTING
Do you have a transparent partner
admission / progression process?

   Do you have an associate / partner
   development programme in place?
   Do you ask your people about their
   career ambitions?
   Do you focus your investment in people
   to advance your and their objectives,
   rather than sheep-dipping people
   through training courses?

              PETER SCOTT CONSULTING
Do you have succession planning strategies?

   “Ahh….only 5 more years to go”




                PETER SCOTT CONSULTING
                       Reward


                                           Performance
Your values
                                           Tracking &
and culture        strategies to            Feedback
              help attract and retain
                  the best people

                                    Training
        Career                         &
      Development                 Development
                  PETER SCOTT CONSULTING
Do you invest in what you value?
                         Values


                 Skills & Behaviours


         Performance Metrics – Quality /Quantity



                Performance Review


          Closing the Performance Gap


         Learning & Development Strategy
                 PETER SCOTT CONSULTING
Performance metrics

Do you measure what
matters?




           PETER SCOTT CONSULTING
To build your ability to attract and retain….


 Do you have systems to
 manage relationship conflict?




                 PETER SCOTT CONSULTING
“Relative worth”


  “I’m so
   marvellous..
  …so why is he
   earning more
   than me?”

             PETER SCOTT CONSULTING
PETER SCOTT CONSULTING
Are we all going in the same direction?




                PETER SCOTT CONSULTING
Maister’s “Predictive package”

“Client satisfaction is a top priority at our firm”

“We have no room for those who put their personal agenda ahead
of the interests of the clients or the office”

“Those who contribute the most to the overall success of the office
are the most highly rewarded”

“Management gets the best work out of everybody in the office”




                          PETER SCOTT CONSULTING
Maister’s “Predictive Package”

“Around here you are required, not just encouraged, to learn and
develop new skills”

“We invest a significant amount of time in things that will pay off in
the future”

“People within our office always treat others with respect”

“The quality of supervision on client projects is uniformly high”

“The quality of professionals in our office is as high as can be
expected”



                         PETER SCOTT CONSULTING
A final thought….


“Change before you have to”

Jack Welch




             PETER SCOTT CONSULTING
Any questions?

				
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