The practice group leadership role has changed dramatically over the past couple of years. Those who have survived the economic downturn have had to not only hold the fort, but to rebuild business and capitalise on the opportunities arising out of an easing but still uncertain economic landscape.
Managing Partner’s new report - Strategy Development for Practice Group Leaders, looks at the role of the practice group leader within the context of this more difficult and changing environment, in which the practice group leader needs to be fully engaged not only with the demands of his or her own team, but also with the practice group’s position within the changing strategy of the business as a whole.
This report assesses the new role of the practice group leader, the tools they will need, and the management strategies they will need to implement within the changing legal landscape, highlighting issues including:
- The practice group leader for the 21st century law firm.
- What it means to be a practice group leader today
- Attracting and retaining clients, raising the group’s profile internally and externally
- Measuring and improving performance and profitability
- Reducing risk, and implementing innovative cost-management and client strategies to capitalise on market opportunities;
- Recruitment, retention and talent development at the practice group level
- Motivating and incentivising teams through on-going economic uncertainty;
- Financial management and the all-important implementation of alternative fee arrangements;
- Marketing and CRM strategies for practice group leaders including the role of social media marketing in profile raising techniques;
- Diversity and initiatives for women at practice group level;
- Risk management – particularly in terms of practice group supervision, and client and matter intake; and
- Successor issues – what happens when a great practice group leader announces their departure? And what can firms do to cushion the potential blow?
Case studies from numerous practice group leaders from leading law firms provide essential insights into the issues above, from those directly in the know.
Chapter 1: The practice group structure
Chapter 2: Practice group leadership in the context of culture
Chapter 3: Practice group financial management
Chapter 4: The 21st century practice group leaderCheck our Executive Summary and full table of contents here