Next Generation, Next Destination™ Program
Our Signature Program
Transitioning Is the New Retirement
How many of these issues are keeping your firm from performing at its best?
- Transferring responsibilities from one generation to another.
- Difficulty making room for younger people to move up because the senior ones want to stay and continue to be productive.
- Senior professionals and executives who won’t let go and have too much of their identity tied up in their positions and their work.
- People who would be willing to transition clients to younger people but would be penalized by the compensation system
- How to minimize defections to other firms due to lack of opportunities based on inter-generational issues.
- Clients who want to work with partners younger than the current lead client partner.
Never before have workplace transitions seemed so complex and challenging.
Boomer Quiz »
Inter-Generational Relations: What Are Your Hot Spots? »
More than succession planning — The Solution to the Looming Demographic Perfect Storm
As the Baby Boomers are positioned to move on, will they participate in a smooth transition? Will the next generation be ready? Will the significant, strong relationships survive?
The issues for the firm are:
- Financial — cost of transitioning, lost revenue from loss or underuse of talent.
- Personnel — making the most of talent, maintaining morale, resolving generational differences and objectives, being “fair” to both older and younger partners
- Governance-related — workable policies, best practices
The issues for individuals are:
- Psychological — identity, self-esteem, denial, etc
- Career — a fulfilling next phase
- Economic — lifestyle, security
- Health/fitness — maintaining it
- Legacy — contributions: both financial and through involvement
How will your firm address these vital issues? Practice Development Counsel’s *Next Generation, Next Destination*™ program provides the guidance and tools to help you plan and succeed.
Connecting the dots: How you benefit
Firms
- Create room for promotion of younger partners to greater responsibilities and authority
- Minimize defections
- Treat senior professionals fairly and retain their goodwill
- Reduce tensions among the generations and facilitate client and business retention
- Avoid legal, negative publicity and morale problems
- Foster professional development of younger professionals
- Relieve management stress on these issues.
Individuals
- Attain awareness of opportunities in the next phase of career/life
- Acquire tools to create a path to the next career/life destination
- Maintain identity and self-worth in a changing career environment.
*NEXT GENERATION, NEXT DESTINATION* A Business Case »
Transitioning — The redefined retirement solution
Here’s how we help
As a neutral party to deal with your sensitive issues on transitioning:
- Assess the firm’s needs: challenges, opportunities, partner sentiment
- Provide expertise on relevant management issues
- Identify alternative roles and resources for partners in transition
- Provide coaching for individuals and management
- Conduct engaging workshops for age 50+ professionals in a non-threatening environment
- Collaboratively design Action Plans
- Monitor progress and provide additional coaching and consulting
- Conduct management briefings
*** Practice Development Counsel takes the points of view of both the firm and the affected partners, working with you to arrive at feasible and mutually satisfying solutions
Why Us? Our Value-added
Principals Phyllis Weiss Haserot and Richard T. McDermott serve as neutral parties to help resolve personal and emotional issues that affected partners are experiencing as well as providing access to high quality resources to deal with economic, health, next career and legacy issues. With decades of experience as practitioners, managers and consultants and coaches in professional firms, we know and understand professional service firm cultures, methods of operation and how the players think.
Phyllis Weiss Haserot is a business development and organizational effectiveness expert and thought leader with more than twenty years of experience advising professional firms. She is President of PRACTICE DEVELOPMENT COUNSEL, a consulting and coaching firm working with law and other professional firms. She works with firms on inter-generational relations, transition and succession planning, strategic business development coaching, influence strategies, retention and integration, client relationship management, implementing flexibility, collaborative culture and workplace conflict resolution. (see bio)
A frequent speaker and facilitator, Phyllis is the author of The Rainmaking Machine and The Marketer’s Handbook of Tips & Checklists (both West 2009), a monthly e-Alert on inter-generational relations, and is a prolific author in the professional and business press. (see bio)
Richard T. McDermott is a business case study on successful partnership retirement planning and has held a number of law firm management positions. He retired as a partner of Clifford Chance in 2004 and continues as an Adjunct Professor at Fordham University School of Law. He is a consultant to Moody’s Financial Services, is a mediator, and serves as a principal with Practice Development Counsel in its *Next Generation, Next Destination* programs.
Dick served as Chair of Clifford Chance’s Legal Personnel Committee, which is responsible for the training, development, advancement and evaluation of attorneys in the firm’s Americas Region. Previously, he served as a member of the firm’s Finance and Legal Employment Committees and on the management committee of two mid-sized firms. (see bio)
For a confidential, exploratory conversation, contact:
Practice Development Counsel
212-593-1549 or pwhaserot@pdcounsel.com
See www.nextgeneration-nextdestination.com
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Succession Planning:
Succession Planning »
Succession Planning: A Looming Challenge »
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If the above questions piqued your interest and you know they need to be addressed, contact us at 212-593-1549 or pwhaserot@pdcounsel.com.
We’ll share our “Best Practices for Transitioning” list at a brief meeting to discuss your challenges and needs around transitioning.