Practice Development Counsel

Phyllis weiss haserot
Phyllis weiss haserot

President & Founder

212 593-1549

Articles: Multi-Generational Solutions Archives

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10 Issues Of Aging Partners, Ageisim, And Discrimination

  • A large cohort of baby boomers is approaching traditional retirement age.
  • Some firms/organizations have mandatory retirement age requirements. They can be strict, flexible, observed or not; leading to special circumstances and favoritism claims.
  • Younger partners want to assume more authority and client responsibilities and receive more credit.
  • Older partners feel pushed out and feel undervalued for their wisdom, maturity, judgment, experience and history of contribution.
  • There is an age gap in some firms that stopped hiring younger professionals and laid off many during poor economic times.
  • Establishing tiers of non-equity partners created a substantial mass of partners not required to develop the skills for major client responsibilities and senior management positions.
  • The lateral hiring craze has created a mix of cultures and partners who don't want to retain older partners and continue their compensation at expected levels.
  • Most firms are not giving enough attention and resources to professional development of younger professionals so that they will be qualified and experienced enough to shoulder the responsibilities of a fully mature and responsible partner.
  • Increasingly firms are being confronted with age discrimination claims.
  • There are few policies for flexibility on hours and non-billable responsibilities for senior partners.

© Phyllis Weiss Haserot, 2006.