Creating a More Perfect Union

Source: Partner Insights

Partner unity is the theme of this article by August Aquila. Here are highlights, excerpted with permission.

Everyone knows that partner unity is one of the keys for success. And we know the benefits of having greater partner unity than the next firm—better client service, less employee turnover, superior profitability. But many firms don’t know how to create partner unity.

Partner unity does not mean that all partners are clones of each other, that they all have the same skill sets, that they are at the same stage of their lives, that they agree on how the firm should be managed, or that they are “best” friends.

Here are five steps for creating partner unity:

• Have a real mission, vision, and core values that are lived in the firm.
• Create an open environment based on authentic trust.
• Encourage open and passionate debate on critical issues.
• Hold each other accountable. In other words, any and all partners should be willing to call their peers on performance or behavior that is hurting the team.
• Focus on results and not merely activities. Many partners are very busy during the year, but produce few results. Firm leadership must set the tone here. A pay-for-performance program is a key to helping the firm focus on results.

For the complete article, click here.

From Partner Insights, Aquila Global Advisors, LLC, April 15, 2009, www.aquilaadvisors.com.