However, this focus on the remuneration system misses the broader issue. There are many reasons for this, most commonly a lack of trust between the partners and “management” over the implementation. There is little that causes greater angst in a firm than the partner remuneration system. This formed the basis for longer term support to leadership and participation at Board meetings as they reached a conclusion. We assisted the Board to develop a decision-making framework to evaluate and prioritise the options and went on to perform the initial assessment. We worked with the leadership of a leading Australian law firm that had several potential suitors, together with viable stand-alone strategic options and its own merger targets. This leadership support can extend to a broader “Board advisor” role – often following a Board workshop we will support the Board at future meetings where strategic issues are discussed, challenging and ensuring the right questions are asked to facilitate robust governance and decision making. This is often in the context of providing an independent thought-partner to a leader going through a strategic review process, helping to develop, challenge and articulate their thinking. On occasion we provide this support on a standalone basis, playing a light-touch advisory role “behind the scenes”. It is a privilege to have such a relationship, and it is built on the values and deep care for the firm’s success that we demonstrate through our work. This was consolidated at a Board workshop that identified several immediate investments regardless of the scenario, a refocusing of investment around market leading strengths, and a new market facing model that would allow rapid response to market opportunities in their sectors of focus.Ī natural consequence of the way we work is that we often become a trusted advisor to the Managing Partner and/or Chair. In parallel we conducted a two month scenario planning exercise where teams of partners, coached by leading external business people, developed future scenarios and potential strategies under each. We worked with a leading Australian firm, performing a rigorous analysis of performance and return on equity that gave new insights, and correlated that with partner and client feedback about market strengths. We have great experience in crafting the story with leadership to engage and inspire the firm, while ensuring that it does not shy away from the tough choices that strategy involves. This can be challenging – and sometimes confronting. Amadeus Professional has run bespoke scenario planning sessions for firms, ranging from short workshops with the Board, to broad exercises involving multiple teams in a process that develops partner talent.Ī key part of a successful firm strategy is in developing the clear narrative and measures of success. This process can often involve scenario planning - this process allows the firm to build broader understanding of the challenges it is facing and develop the agility to move between strategic responses. We are highly experienced in this stakeholder engagement process, running partner interviews, consultation workshops and focus groups as required. The strategy development process is a “co-creative” one – it will need to be delivered by the partners, so the need to build ownership through the process is critical. This includes a rigorous, fact-based review of the internal and external strategic context and evaluating the options available. The market is forcing firms to be far more disciplined about making and following through on these choices – it is no longer sustainable to be “good enough” at a broad range of services, or to allow partners to find their own paths organically.Īmadeus Professional can help you to make informed decisions about your strategic path through a tailored process suited to your current position and strengths.
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