C-level priorities in law firms – a Managing Partners’ Forum update
Managing Partners’ Forum, always a wonderful source of information on the professions, has recently published its quarterly CEO Priorities Monitor, and it makes for some interesting reading. The report highlights the priority areas for C-Suite executives in legal and professional service firms around the world.
For the Managing Partner and CEO, differentiating the brand and improving client relationships come first and second. Interestingly, and perhaps reflecting the difficult times faced by many European and American firms, increasing efficiency and leveraging technology are also high priorities.
For the COO the main priority is consistent client relationships and efficient systems.
For the CMO – no surprises – it’s client relationships.
For the CIO process improvement is a clear leader, followed by infrastructure and new systems.
For the Finance Director, cash flow sits first, with cost control, budgeting and profitability rounding out the top four.
For the HRD, motivation and reward lead the list, while leadership, career development, engagement and skills development also stand out. All of these items can ultimately be tied back to a strategy that is focussed on keeping and developing top performers.
For the CKO, systems and processes are number one.
For SkillsScorecard the out-take is simple: systems that can efficiently support firms to develop, engage and retain people are vital – and given the prevailing conditions – the time to look into them is now.
Managing Partners’ Forum, led by Richard Chaplin, is an independent professional body that represents the management team at professional firms worldwide. They conduct campaigns, events, research and Leaders’ Groups in areas such as Finance, HR, Knowledge and Marketing. With many hundreds of members the world over, MPF is the leader in advocating and supporting professional management in service firms. One of the main events in the MPF calendar is the MPF European Leadership Awards, an annual awards process and ceremony to recognise outstanding achievement in professional service firm management. Ray D’Cruz from SkillsScorecard a member of the international judging panel. Contact MPF here.