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Establishing Core Values in Your Law Firm
The slow economy of the last three years forced law firms into unprecedented personnel cuts that hit support staff as well as associates and eventually even cut into some partnership ranks. For many firms, these were agonizingly difficult decisions.
Some firms had to come to grips with the fact that they had gotten lax on their recruiting, promotion, and performance standards. Some lawyers weren't cutting it. Some were producing revenue but causing other problems. Many firms had more lawyers than work. When someone has to go, who decides? On what basis? Does an underperforming lawyer get a chance to improve? To what level, and over what period of time?
The need to deal fairly with people while also dealing with profitability in a businesslike way has motivated many firms to document a written set of core values or standards that provide clear, firm-wide expectations regarding individual contributions and mutual accountability.
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