Large law firms are expanding their coaching capabilities by hiring their own full-time coaches and/or by sponsoring the coach training and accreditation of members of their existing teams (especially within their talent and BD teams). In parallel, the use by law firms of external coaches is also increasing.
Law schools, and therefore law students, have your number. Schools go to great lengths to prepare their students for their OCI experience—sharing lists of interview questions to be prepared for, lists of questions to ask of their interviewers and even classifying the different types of interviews and interviewers students may come across. For example, New York University School of Law highlights the following interviewer types.
As much as the use of leadership and executive coaching in law firms is increasing, some firms hesitate to adopt coaching broadly as a key developmental tool. While an obvious institutional concern may be cost, the concerns for individuals typically focus on the time, energy and vulnerability required.
Last year, we at Volta set out to understand how law firms are using coaching. Through our Coaching Insights Survey, we asked law firms in the Am Law 200 and beyond to share what they are doing coaching-wise. Of the Am Law 200 (ranked by revenue), no fewer than 123 law firms use coaching, with a high number of those being in the first 100. In our second article to mark International Coaching Week, we share some of what we discovered:
The use of coaching by law firms is undoubtedly increasing. This executive summary of the Volta Coaching Insights Report captures key findings and data points from our survey and subsequent research.
“Executive presence” is for many people I talk to in law firms a “know-it-when-you-see-it” kind of thing. While they may be confident that they can tell you who has it, or more often in the context of lawyer coaching, who doesn’t, they may struggle to define it clearly.
It is a universal, albeit ironic, truth that by listening to those who are leaving your firm, you can more actively focus your retention initiatives so as to hold on to people you want to keep.
In our first article, we discussed the challenges law firms face in confronting succession issues. In this article, we offer a succession planning outline for firms that are ready to take on the challenge.
Another year is over, another just beginning. As U.S. law firms close their accounts for 2015, law firm leaders and partners are taking stock of how they did. And how their competitors did. So where do we stand when it comes to U.S. law firms’ financial performance in 2015?