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There's a new trend on the horizon: partner purges. Are they necessary? Is such a drastic move ultimately good for the law firm?
I generally agree that sometimes such a move is needed, but there are some tough issues involved. Partners of firms that have spun off from Big-Law firms have isolated part of the problem. Those founders of the spin-off firms say one of the reasons they left their large firms in the first place was because of the increasing focus on an “eat what you kill” culture, and the valuation of “book of business” over partnership and collaboration. Whole Foods CEO John Mackey recently made a great comment: “We all need for our red blood cells to keep producing, but if they stop reproducing, we die.” Law firms need to continue to create red blood cells within the firm or the firm dies. If “book of business” is the primary metric used by law firms to classify partners to purge, several problems may produce unintended consequences:
What, Exactly, Is 'Deadwood'?
When law firms talk about “deadwood,” what should they mean? The term should refer to those partners who retired and forgot to tell their partners or clients. Or they could mean those equity partners who are supposed to act as owners but act as employees. Firms should also mean those partners who are acting like jerks, as described in one of my articles for this publication (see www.lawjournalnewsletters.com/issues/ljn_partnership/18_5/news/156623-1.html). The list should include those partners who value their own compensation over collaboration within the firm and with clients. Collaboration in this case means a group of people bound together by a common vision and accountable to one another for the accomplishment of that vision.
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