Is the firm retreat a dying exercise?
During the current economic downturn, many practices eliminated the annual retreat in an effort to save money. But it’s when the revenues and business future are most mercurial that a retreat is most needed, says Robert Denney, a Wayne, PA, law firm management consultant.
The firm needs to know how to navigate through the financial waters as well as position itself to take advantage of new markets when the money climate starts to improve.
Here are the whys and hows of a productive retreat.
Why all the effort?
The value of a retreat, Denney says, is that it forces the attorneys to come up with the best possible solutions and plans.
He gives the example of developing a strategic plan. Discuss it during an hour-long meeting in the office, and the attorneys are preoccupied with the business they have to return to. But outside the office, overnight and out of town, they have no option but to devote the time and attention needed to develop a viable plan.
Whatʼs a retreat suited for?
A retreat is designed to address major issues, such as a potential merger or a change in partner compensation or a business development plan.
After a merger, it’s a venue for both sides to determine how they will integrate into the new organization.
It can also be used simply as an opportunity “to discuss the state of the firm.” And it’s always a socializing opportunity.
Even if there’s no pressing reason to have one, “it’s wise to hold a retreat annually,” Denney says. The firms that do so invariably end up with “strong cultures,” good internal communications, and good business.
Who gets invited?
A retreat is always for the partners, but the associates need to be included at least in part “so they feel part of the firm.”
Who attends depends on the agenda. The firm might reserve one day for subjects that are appropriate only for the partners and then have the rest of the time for partners and associates.
For the social events, everybody should be invited.
What about staff? They may or may not be included depending on what’s being discussed. Denney cites one client firm that had merged a year earlier but still had a we-versus-they attitude and so invited the staff to discuss ways to unify the new practice.
Also, he says, topics such as improving communication and identifying firm culture are appropriate for partners, associates, and staff as well.
Plan how far out??
A worthwhile retreat takes a minimum of three months of planning and more if the firm is large. It takes that much time to decide where to meet. And if the meeting is to be in a hotel or resort, reservations need to be made that far in advance, if not longer.
The attorneys also need that much time to clear their calendars.
There are outside factors as well. “There’s no need to plan it for the weekend the managing partner’s daughter is getting married.”
The most appropriate time for a retreat is at the end of the firm’s fiscal year. That allows the practice to go into the next year knowing what changes and adjustments need to be made.
However, Denney says, in special circumstances such as the unexpected death of the managing partner, the firm obviously needs to retreat immediately to map out its response.
Who does the planning?
Unless the firm is very small, the planning should be done by a committee. And make it “a mark of honor to get picked for it.”
The committee’s job is to find out what issues need to be discussed and put together an agenda. And again, that’s going to take a few months.
Members should include a representative from each practice area and office site. If associates are going to attend, they should be represented as well. The same with staff.
What’s the agenda?
As to what to put on the agenda, the answer is “the bigger picture,” Denney says.
Don’t include administrative or operational matters such as implementing new software or adding a new healthcare plan. Those belong in the regular partner meetings.
A retreat agenda should cover elements such as evaluating how the firm did during the past year in terms of finance and business generation, setting goals for the coming year, developing a strategic plan, and planning the marketing. It can also include pressing issues such as the firm’s response to the departure of a major practice group.
To set the agenda, the committee talks with or sends questionnaires to the people who will attend to identify what they need and also to ask what they want to include.
For the associates, the questions might be
- What do you feel are our strengths? Our weaknesses?
- Which practice areas have the most potentialfor growth?
- Do you think we should consider expanding a practice group? Merging with another firm?
Then give a list of topics and ask which ones they think need to be discussed. Include things such as expansion and growth, financial matters, firm structure, firm management, practice organization and management, technology, compensation, marketing, business development, client service, culture, recruiting, and training.
If 12 out of 20 associates say, “I want to talk about expanding the firm” then that needs to be on the agenda.
If staff are going to attend, get their input as well by asking questions such as
- What do you like best about thefirm?
- Where does it needimprovement?
- How effective is the communication from the attorneys? From management? From administration?
- What would help you do your jobbetter?
- Are there other things you could be doing to benefit the firm?
Just three sessions?
The ideal agenda, Denney says, covers no more than three main topics, or fewer depending on their severity.
Hand out the agenda in advance and include whatever information people need to review for the discussions.
There should be no more than three sessions, and each should go no longer than three hours.
If the audience is large, make the last part of each session a break-out period where smaller groups discuss what’s been presented. If the topic is recruiting, for example, they might discuss what schools to focus on, how many associates to hire, and how to assign mentors.
Summarize the results
Within a week after the retreat, the retreat committee should distribute a summary of what was discussed and outline the actions the firm will take as a result.
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