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Source: Partner Advantage Advisory
Poor management results in malpractice and ethics risks. Here are some examples of partner and firm behavior that may contribute to this risk:
- Compensation based on “eat what you kill,” or solely on recent performance
- Not enough time spent in professional development
- Accepting the wrong clients
- Lack of knowledge of what other partners are contributing in terms of profits
- No transition plan for retiring partners
- Lack of knowledge about the goals and direction of the firm
- Refusal to be managed
- Averse to referring work to others in the firm
- Failure to transition client management to others
- Noncompliance with client acceptance policies
- Not enough time devoted to training, supervising, and developing staff
- Living above their means
- Lack of trust among partners
- Pressures on earnings
From Partner Advantage Advisory, November 2005, p. 4. Hudson Sawyer Professional Services Marketing Inc. www.hudsonsawyer.com. Subscription $279 per year; single issues—$25. Orders 800-945-6462. To view the complete article, click here. |
