The following column is by Janet Stanton, Partner, Adam Smith, Esq., LLC—Bruce

We were wondering what a help-wanted ad for a Managing Partner[1] would look like; knowing of course, that we’ll never see one.  For better or worse, it remains unthinkable for a law firm to hire an outsider for that position.

But, what should a job description for a Managing Partner include?

We must begin by pointing out that the role of the MP has no other equivalent within the firm.  The reason is that the MP is the primary advocate for the firm as a whole – both internally and externally.  This is not to say that there aren’t others who advocate for the firm, but that is not a sine qua non for them; it is for the MP.

That role is entirely consistent for company leaders in other industries.  But in another example of Law Land’s exceptionalism, this distinctive responsibility of MPs is often in addition to continuing to service their clients.  Why do I say this is exceptional?  It is that in no other industry do captains of multi-million dollar enterprises continue in their day jobs.  It would be as if a corporate CEO also served as a shop floor foreman; doesn’t happen.

So what would a proper job description for this critical leadership role look like?

According to a “Feature” article in the journal of the Association of Legal Administrators which included a survey of 167 Managing Partners, their three highest priority efforts on behalf of the firm, on a 1-7 scale, are:

1. Consensus building (5.18)
2. Defining and communicating strategic objectives (5.12), and
3. Serving as a change agent (4.84)

McKinsey would seem to agree with this set of priorities.  Their article What is Leadership? (August 2022), opens by defining leadership as behaving in a way that “helps people align their collective direction, to execute strategic plans, and to continually renew an organization.” We believe these accurately and effectively capture the most essential activities of an MP.

However, according to aforementioned article out of the Association of Legal Administrators,

Surprisingly, the role of managing partner at most law firms is not accompanied by a formal job description. According to [the] survey, 59% of managing partners reported that they lack a formal job description, with another 10% reporting that their firm has one but it is not followed closely.

Getting more specific…

The role of the MP at a high-performing law firm has two fundamental dimensions, internal and external; examples follow:

Internal priorities:

• Articulating and building consensus around the strategic direction for the firm
  • Defining choices: Where to invest and where to withdraw
    • Targeted/focus practice areas
    • If applicable, industries/core client bases
  • Office footprint (geography)
    • Are we in every key city we need to be in?
    • And nowhere we do not need to be?
  • Is the business side of the firm truly and effectively integrated? Is it respected as a fully worthy and essential capability of the organization side by side with the legal practice?
  • Communicating the why’s and why-not’s (that is to say, why choices were made between yes/priority and no/stop)
    • Overseeing implementation/execution
      • Delegating responsibilities to specific individuals and teams comprised of lawyers and business professionals with benchmarks, timelines, and accountability
    • Identifying the right people for key roles and ensuring they have the authority and freedom of action to perform those roles effectively and decisively—unless and until they reveal shortcomings in judgment or execution.
      • Keep in mind that these are key firm leadership roles and not entitlements or seniority-based appointments.

External priorities:

• Client focus
  • Ensure consistently high standards of client service across the firm
  • Key client visits
  • Highly selective prospecting/marketing
• Ambassador of the firm to the market
  • Enhance the visibility and perception of the firm
• High-level industry and competitive intelligence gathering
  • High priority conferences, events
  • Not just “legal” world but high visibility industry/client sector gatherings
    • Capitalize on the “star power” of the MP

Evaluative criteria

Even the most salient and pointed job description is just so much verbiage absent evaluative performance criteria with teeth.  Our perspective is that these should be developed and specified with rigor, but enforced with sensitivity and grace in light of changing circumstances and realities in the market, which without fear of contradiction one can predict will develop in unforeseen ways over the course of a four to six year term.

As such, the evaluative criteria  for the MP’s performance must revolve around the firm’s fortunes overall, including, critically, its success at executing on its strategic plan.

Closing thoughts

The clear implication of the above is that being an outstanding legal practitioner is, strictly speaking, not germane to someone’s qualifications to be in the MP role.  However, we well recognize this is critically important to build and maintain trust and confidence among the partnership as a whole.

Our research over the past nearly 20 years has identified defining aspects of the most consistently successful law firms.  One of the most critical characteristics of these firms is strong, effective leadership.

As we’ve seen the MP is a singular role with singular importance to a firm.  Chose wisely and clarify both expectations and aspirations for that position.

[1] Some firms prefer the title of Chair, which is a distinction without any real difference.

Courtesy Gemini Generative AI (one and only one prompt cycle)