I may be making a big assumption but I hope that you are already engaged in partner goal setting in your firm. If done well, it will raise the bar for each partner which in turn will raise the bar for the firm. We all have heard the basic rules of the game including having a limited number of measurable, stretch goals. Here are a few ideas to really juice up your process for better results.
Coaching and mentoring the firm’s partners is one of the most important if not the most important responsibility of your managing partner. Depending on the size of your firm, the managing partner may personally do it or get others involved. The goal setting process is a team sport. The MP and his/her management team sits down with the partners and together they come up with the goals. Equally important is the involvement of the MP in follow up meetings to discuss progress. A good rule of thumb is that you need to have a dialogue every sixty days or so. The biggest reason why goal setting programs fail is lack of follow up by firm leadership.
Hygiene vs. Goals.
I see too often what I call hygiene items listed as goals. There are some things that are like brushing your teeth in the morning – you just need to do it and you really shouldn’t be rewarded for it. Your firm should have minimum expectations for partners that include things like putting your time in, doing your billings, collecting your receivables, etc. They are not goals. Partners should be impact players and their goals should have a high impact on the firm’s success.
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