it makes managing them easier.
by marc rosenberg
the role of the managing partner
over the years, during countless partner interviews, many have told me they aren’t sure of their role and what is expected of them.
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here is a basic, universal technique for improving performance and providing feedback:
| step | activity |
| 1 | clarify the person’s role in the firm and expectations in writing. |
| 2 | continually monitor the person’s performance of the above. |
| 3 | praise the person when expectations are met. |
| 4 | help the person resolve difficulties meeting expectations. |
| 5 | provide formal, written performance feedback. |
it’s that simple!
here are examples of different roles and expectations for partners:
- a client-service partner is expected to service clients with high-quality work, satisfy their needs, retain them and cross-sell the firm’s services. this role will most likely be the same for all client-service partners.
- run the tax department.
- take on clients of other partners (usually specified by name).
- manage the wealth management division.
- delegate clients to others (usually specified by name).
- delegate work to staff that you are doing yourself, thereby reducing your annual billable hours from 1,300 to roughly 1,000.
- be a rainmaker in the firm.
- be the firm’s go-to person for estate planning.
- increase realization from x to y.
- mentor two staff (specified by name).
- develop a backup person to yourself on your major clients.
- use technology more efficiently (specifics cited).