||Boston: Successful Succession: Integrated Transitioning Strategies
||Susan Russon [LMA Northeast]
||Jun 20, 2017 12:00 PM America/Eastern
||Jun 20, 2017 01:30 PM America/Eastern
||There are many things threatening the law firm business model, but one of the most important and overlooked is impact that the generational shift will have on our economy and prevalent need for integrated succession planning.
In no other time in history have their been four generations occupying the job market. More than 75 million Americans are in the Baby Boomer generation, and each month, there are more than 250,000 Boomers turning 65. Corporations began their leadership succession shift several years ago, but the law firm model has been slow to respond because they often don’t enforce mandatory retirement. Generational differences can cause great confusion and frustration because of differing priorities, values and communication styles.
It is also reported by many that the Silent and Boomer generations have been slow to integrate colleagues into the client relationship, often demonstrating a hoarding mentality. Between the perception that senior attorneys aren’t sharing work and the fundamental differences between generations, great disruption with both clients and colleagues is widespread as leadership changes and succession planning begin to take place within law firms. Those firms that don’t take this seriously and adapt their business model will continue to lose talent as laterals move to firms that offer a more attractive and transparent platform.
So, what is the most effective approach to succession planning? During this session, we will examine industry trends, obstacles, opportunities and best practices that attendees will be able to apply to their respective firms.
Key takeaways include:
- Leadership Succession Planning
- Developing a Firm Succession Strategy
- Mandatory Leadership Rotation and Term Limits
- Identifying Senior Leaders and Determining Succession Teams
- Attorney Sunset Planning and Consideration
- Leadership Roles and Accountability Measures
- Incentivizing Engagement and Participation
- Transition Planning
- Developing the Next Generation
- Client Relationship Succession Planning
- Solidifying Client Relationships through Engagement
- Integrated Client Teams
- Understanding Client’s Succession Strategy
Jeanne Hammerstrom is the CMO at Benesch, bringing 25 years of legal marketing experience to her post. Ms. Hammerstrom has responsibility for marketing, communications & practice development, and oversees a staff of business development, public relations, advertising, event planning and other professionals. She also participates in the firm’s Executive Committee, Strategic Growth Committee and Client Service Committee. Under Ms. Hammerstrom's leadership, Benesch was ranked the highest of any non-AmLaw 200 firm in the country by Marketing the Law Firm's 2012 national ranking list, “The Eighth Annual MLF 50: The Top 50 Law Firms in Marketing and Business Development.” Benesch ranked 4th overall and is the only non-AmLaw 200 firm in the top five. Benesch received a second place award for its Interactive Recruiting Campaign at the 2013 Legal Marketing Association (LMA) Annual Conference. Active in the legal industry, Ms. Hammerstrom was recently named a Fellow of the College of Law Practice Management. She is a former President of the International Legal Marketing Association (LMA), Chair of LMA's 2009 Annual Conference and a past-President of LMA’s Pittsburgh Chapter.
Jill Huse is the co-founder of Society 54, LLC. Jill, a certified Worldwide Association of Business Coach, is a renowned as a trusted professional services advisor who is highly regarded for her progressive ingenuity, research-based strategy and, most importantly, her ability to deliver results for clients. She has worked in professional services marketing for more than fifteen years. As the former Director of Marketing and Business Development at one of the most reputable AmLaw firms in the southeast, Jill structured and led her team in developing, implementing and managing award-winning communication, business development and marketing initiatives. Jill is a tenured member and past president of the Southeastern Chapter of the Legal Marketing Association (LMA). Jill is a certified Legal Lean Sigma Yellow Belt, a Change Management Specialist, and just received her Masters in Law Firm Management from George Washington University.
||Foley Hoag LLP
155 Seaport Boulevard
Boston, MA US 02210-2600
||LMA Northeast Region Administrator