Why throw them out?
By August J. Aquila
What Makes a Great Partnership
There has been a lot of debate about the lack of future partners and how firms are going to survive from one generation to the next. And, at the same time, many firms may have an asset that they are getting ready to retire – their older partners. Firms are so worried about generational differences in the workplace that they tend to forget about the value of their senior or older partners.
MORE: How to Deal with Underperforming Partners | When ‘Quiet Quitting’ Hits the Partner Ranks | 12 Points of a Good Compensation Plan | Ten Steps to a New Managing Partner | What Managing Partners Must Be Doing | Do Your Partners Pay Their Own Way? | How to Create Firm Accountability
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I am not suggesting or recommending that unproductive partners should be kept in the firm. These partners should be dealt with immediately, no matter what age they are.
However, I am suggesting that we look at senior partners as valuable assets and determine how we can best employ them.
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