Thirty-eight percent of AmLaw 200 partners are expected to retire in the next eight to ten years. This reality is already causing financial and structural unease throughout the legal profession, yet many stakeholders prefer to avoid addressing the issue head on because it requires engaging in uncomfortable conversations. Succession Planning and Retirement Strategies for Law Firms and Lawyers showcases the perspectives of both law firm management and individual partners in order to mitigate the discomfort of retirement conversations and help develop effective transition plans that meet the needs of all stakeholders.
Written by a certified career/life management coach with more than three decades of experience working with the legal profession, this book is designed to help all participants address assumptions, thoughts, and emotions around aging and retirement to influence transition outcomes in a positive manner. It illustrates how firms can build on current professional development and well-being programs to ensure the successful navigation of this transition, and lays out a structure and timeline for preparing personalized transition plans that serve the firm, the partner, and clients. The book contains numerous tools and exercises to help guide discussions and planning.
Among the specific topics covered are:
- Strategic plans designed to launch retirement discussions
- Aligning talent management strategies with life cycle
- Impact of compensation and culture on succession planning
- Mindset of aging partners
- Designing post-practice life
- Tending to physical, mental and emotional well-being
- Collaborating for better outcomes