We have more than 500 partners across the world. Most of them own the firm; they are all its leaders and managers. How do we make sure they are all pulling in the same direction?
It takes a combination of things. For example, when identifying future leaders, we look for people who live the firm’s values, whatever their background. We discuss our vision in depth at leadership training courses. And our “lockstep” profit-sharing structure motivates partners to make decisions for the benefit of the whole firm.
In practice
An enhanced partner-selection process
Most partners will say that the most important decision they make each year is the selection of new partners. In 2006, we enhanced this selection process, to ensure we identify people with the qualities required to take on the wider responsibilities of being a partner, and to make sure we treat all candidates fairly and consistently.
Candidates are still assessed against the same criteria. What is new is that their peers and juniors now provide confidential feedback in the year running up to their candidacy. They also have a competency-based interview with an independent panel of partners and the senior partner of the firm, along with a discussion of a realistic scenario they might face as a new partner. It is a rigorous process, and considerable time is devoted to it by a team of independent partners.
Lockstep
Linklaters’ equity partners are remunerated from a single global profit pool and their share is based on years as a partner rather than performance. This encourages partners to think about the interests of the whole firm when making decisions.
The Linklaters Leadership Programme
Our Leadership Programme is run by professors from Harvard Law School, and focuses on the complexities involved in leading a firm such as ours. Through the programme, we have been able to develop a common understanding of the leadership challenges facing us and create clear action plans. More than 280 partners have attended the programme.
The Linklaters Leadership Programme
Over the last four years, more than 280 of our partners have attended our Linklaters Leadership Programme – a five-day course run by professors from Harvard Law School.
The programme uses an analysis of case studies covering a range of topics from strategy to crisis management, each designed to get people thinking about what it takes to be a leader.
Nathalie Hobbs, partner in our Paris office, went on the programme in 2004. “It was an eye-opening experience, not only working on the case studies which dealt with a variety of management and leadership questions, but also seeing how our senior partners approached the issues that arose,” she said. “For me, the most interesting discussions were those on the firm’s strategy. They were the furthest away from my experience thus far as a partner, and so forced me to look at things from a different angle.
“Another thing I took from the programme was just how many facets there are to the role of leader at Linklaters. As well as being a lawyer working on transactions for your clients, you’ve got to lead and develop your people, find new work and clients, manage the financial aspects of your team and keep an eye on the long-term development of the practice! I think it’s a challenge for leaders generally to juggle all these different aspects.”