The past six months have taught us a lot about working from home, staying focused when the world seems to be falling apart, and getting along with new "coworkers." When the abstract concept of a pandemic hitting our shores became a reality last spring, many were left scrambling to pick up work and take it home for the foreseeable future. When our people had to take time away to care for small children, elderly parents, and sick family members, few had a plan in place for filling those holes.
If the past six months have taught us anything about running a law firm, it's that we need to have a plan in place. Our emergency plans - contingency planning - help us prepare for an unexpected exit (permanent or temporary) from the practice of law. Our long-term succession plans help us prepare for a planned exit from the practice of law - typically in the form of retirement. Neither plan is complete without the other.
As we settle into our new normal and the initial adrenaline rush has worn off, it is time to start planning. Talk to your people. Ask them about what's going on in their lives now and their plans for the future. Even if you think you know, the pandemic has changed things. Retirement plans have changed for many - some want to retire earlier; others may need to work longer to recover from financial setbacks. Perhaps some want to work a reduced schedule to spend time with family or perhaps some want to work from home full time. In either case, you may need to groom others to step up to the plate. You won't know until you ask.
Pandemic or not, the benefits to succession and contingency planning are immediate. The organizational work required to craft the plans will help your firm work more efficiently and effectively - regardless of where people are working. Young lawyers, interested in their careers, want to work where they can see the path to equity partnership and leadership. There is no time like the present to plan for the future. Like the old proverb: the best time to plant a tree was 20 years ago; the second-best time is now.
Ready to get started? Affinity is happy to help with the difficult conversations and help your firm plan for any contingecy or emergency. Contact us any time at 877-676-5492, or request a consultation.
