Succession Planning & Future Partner Training
The Strategic Partner has developed a powerful training programme for law firms that identifies and prepares solicitors for the step into a Partnership or Ownership.
The purpose of the programme is to provide future partners with expertise and guidance on a range of topics that partners of law firms should know and understand.
The focus is to prepare them for the challenges that will confront them to manage a law firm, partake fully as a partner, interact with clients, staff and external business’ to ensure that they get the maximum input (or output) from every relationship.
Above all, the strategy is to ensure that the future partners of a firm are ready for the challenges they will face to take the firm forward maintaining, creating and enjoying a profitable and successful future for themselves and their firm.
Whilst the training is designed to run for 6 months in a series of monthly sessions, the reality of working in a law firm and preparing for a Partnership is that adaptation may be required as the needs of both the firms and the individuals change on an ongoing basis.
The course is designed to run for 6 months but can be extended into 12 months as needed.
Each of the sessions is a day in duration, however, these can be broken down further into ½ days if that suits the firm’s requirements.
Through the duration of the training programme and for 3 months thereafter (which can be extended), those enrolled into the training will be provided with access to a mentor to provide ongoing support, guidance and assistance on topics where they need assistance.
Training is provided by experts in the industry who have practical management and expertise in the sections. TSP lead the programme but assistance is also provided from Menzies who are a leading legal accountancy firm and FireTap, who are a leading marketing and advertising agency, who specialise in legal marketing.
Each firm is different as are their requirements. To ensure the firm and the individuals gain maximum benefit from the programme, an initial session is held with the current partners enabling a full discussion on the expectations of the course and final requirements. The programme will then be added to and adapted to meet these needs.
Below, we set out the suggested areas to focus on, these can be adapted, reduced and extended as needed.
The obvious goal is to enrich the knowledge and skills sets of new Partners or those being chosen for potential Partnership to prepare them fully for taking on the responsibility of being a Partner.
This process can also be used to help identify future Partners as a feedback will be provided to the Partnership on each individual as a profile is built through the duration of the programme.
Strategy and Programme
The following sets out the proposed programme which can be updated and tailored to meet the specific needs of any firm.
Workshops will include: -
- Regulation and Compliance
- Solicitors Accounts Rules and the Code of Conduct – what does it mean in Practice
- Implementing and maintaining risk review and audit standards
- Dealing with the SRA and interacting with them
- Managing complaints and general client service
- COLP duties
- COFA duties
- Managing and controlling risk both personal and firm wide
- Financial Management – the basics
- HMRC and law firms
- NI and ErNI
- Reading and understanding management accounts
- What is required to by your accountants to prepare the accounts
- Planning and forecasting
- Law firm marketing and business development
- Understanding the fundamentals
- Digital marketing inc Social media management
- Proposal and winning sponsorship for your ideas
- Building a marketing and advertising strategy
- Winning new business, the tactics and the approach
- New Business Management and Conversion
- GDPR and data protection
- Management and Controls
- Importance of objectives and targets
- Performance management for all levels
- Managing and influencing upwards
- Anti-discrimination and ethics
- Stepping up to being a decision maker
- Managing relationships
- Client relationships
- Planning and delivering training
- Case Management and Data
- Technology in the legal sector
- When to use or introduce technology
- Use of the case management system success and failure
- Managing data
- Using data effectively
- When to change or upgrade
- Financial Management and Strategy – understanding and application
- Building a strategy – what to consider, who to involve and how to present
- Managing and monitoring results
- Review and adapt – why, how and when
- Assessing impact of strategies, when to change, when to continue and when to stop
- Reporting and communicating
Each session will bring practical learning through demonstration of application and case studies to support and aid understanding.
Additional Support (optional)
Throughout the duration of the training and beyond each of those included on the course are provided access to a mentor who will guide them and provide support on an ongoing basis assisting with challenges they face and assisting with coaching.
This is a confidential service where those on the programme can interact with the mentor generally for support and guidance, providing them with an outlet to obtain impartial and independent advice to overcome challenges they face in their day to day role.
The firm will be interested in the success of the programme and how the individuals are responding. Whilst we are not creating a stressful environment but one that encourages participation, it is important that the Partnership understands how each of the attendees is performing.
Whether the firm would like a written report or a meeting with the Partners through the programme feedback will be provided. Meetings are preferable to ensure the full meaning of feedback can be expressed.
These assessments are designed to ensure the Partners understand the potential for their future leaders and identifies development needs to be addressed before they are placed into decision making positions.
The pricing for a full programme will depend on several factors and be confirmed following an initial conversation.
We will work with the firm to ensure the pricing is cost effective, affordable and deliverable full value into the firm.
Although an intensive programme this is delivered in a way that encourages full participation by the attendees.
Our focus is to provide practical learning and accelerate experience enriching the future Partners of the firm so they are better prepared for the challenged of management and ownership.
Each of those providing the courses have been leaders in their own right at senior levels in the legal industry or in their specialist sector. The programme itself is bespoke to the firm and will be adapted to meet the firm’s requirements.
For more information about our ‘Succession Planning and Future Partner Training’ services call us on 0203 911 9710 or you can email us at email@example.com.
Download our Succession Planning and Future Partner Training brochure here for more information.