The leadership teams of partnerships face tough choices as they evaluate performance over an unprecedented period. Inevitably underperforming partners will be targeted for compulsory retirement. Partner exits offer a valuable opportunity to gather information that would otherwise not be available and turning it to the firm’s advantage. Strategies may be developed with the benefit of fresh intelligence that improves the firm’s culture, approach to the evaluation of performance and outlook on more diverse career models. This can help reduce the risk of exits or conflict and contribute to longer term profitability.
Our partner Ivor Adair recently contributed an article in Legal Futures sharing his views on performance management and on the problems and opportunities for management where a partner is compulsorily retired.
You can read the full article here.