They may have skills, but are they the right ones?
By Marc Rosenberg
How to Bring in New Partners
There are many ways to measure the performance of staff on the path to making partner.
MORE: Three Types of Skills You Need to Become a Partner | Six Ways New Partners Differ from Managers | Sixteen Duties of a Partner | Seventeen Basic Expectations of Partners | The Four Essentials for Every New Partner | Five People to Keep Out of Partnership | Nine Ways to Woo a Prospective Partner | Tell Potential Partners What It Takes
Exclusively for PRO Members. Log in here or upgrade to PRO today.
As is my style, I will present far more measures than most firms actually use. But I doubt you’ll perceive any of the methods here as unimportant.
They are not listed in any particular order of importance.
Stellar performance appraisals: This includes oral feedback that is shared among the partners.
Masterful management of client responsibility: Before staff are considered for partner, they should have been assigned a small client base to manage. This includes performing the work, managing client relationships and attending to all the administrative aspects of engagement management, such as billing, collection and planning. Mastery is evidenced by the following:
- Clients call the potential partner instead of the prior or originating partner. Some clients prefer this.
- Clients are retained.
- The partner potential has moved the firm’s services to clients upscale.
- Realization targets are achieved. Write-offs are at an acceptable level.
- Projects are delivered on time. Billings and collections are timely.
- Potential partners achieve formal, written goals. All managers should participate in a goal-setting program, just like partners.
Skillful management of staff:
- Staff give the manager strong scores on upward evaluations.
- The manager is effective in mentoring staff and giving them timely performance evaluations, as evidenced when staff advance under the partner potential’s tutelage.
- The manager exhibits strong supervisory skills, including delegation, training, review of work, timely job-by-job evaluation and accessibility.
Business development: Potential partners are both active in business development activities and successful in originating business. They demonstrate a healthy, positive attitude toward bringing in business.
Technical skills:
- The partner potential manages multiple projects at the same time.
- When the partner potential’s work is reviewed, minimal changes are required.
- The manager works on highly complex matters so that partners delegate these projects confidently.
Productivity: Achieves the firm’s targeted billable hours at strong levels of realization consistently for many years. Productivity also relates to nonbillable activities such as staff management, billing, collection and performance of assigned firmwide projects.
Specialization: Over time, the partner potential has acquired one or more specialized skills and/or industry expertise and is considered a go-to person in these areas by the firm.
The baseball umpire’s credo: The partner potential is mobile, assertive and loud. He or she speaks up at partner meetings and is influential, assertive and self-confident. The person seeks responsibility.
Strong work ethic: The partner potential is willing and able to work extra hours to get the job done, ensuring that clients’ needs and deadlines are met.
