The End Game

At Generation Generosity, we believe that law firms can achieve new levels of success when they pursue a Triple Bottom Line, making their firms a place where:

1. Loyal clients want to buy;

2. Talented lawyers want to build a career; and

3. Leaders want to serve a greater purpose.

Doing so will require a shift in the way lawyers and law firms think and act, and there are lots of indicators that this change is already afoot. Several trends point to the changes that are underway–increasing attention to alternative fees, client feedback and service, work-life balance, training and professional development, pro bono and community service, to name a few.

But many believe that the need for change created by market forces may outpace the rate at which lawyers and law firms are willing to make that change. The Intelligent Challenge made just this argument with respect to the way law firms attract and retain talent with an ever-changing end game. He argues that because of the new pressures of outsourcing, technology, commoditization and globalization, the current slow changes to the status quo will be sufficient only in the short term and in order to compete in the global war for talent, new and better career structures must emerge.

Assuming that’s right, how can we make law firms a place where talented lawyers want to build a career? If the pot of gold at the end of the rainbow that was partnership is no longer enough to keep our best and brightest lawyers engaged and motivated, what is?