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Succession Diagnostic

This Diagnostic should not require more than 15-minutes to complete. It is divided into two parts — Leadership Succession and Client/Attorney Relationships. Your responses will provide our team with the data necessary to score your firm’s “succession readiness.” Within five business days you will receive a personalized Succession Assessment detailing areas deserving attention.

We guard and respect your privacy, and your response is kept confidential. 

 

Click the button below to start the Diagnostic.

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Part 1: Leadership

The first ten questions of the diagnostic focus on Leadership Succession

Question 2 of 22

1/20

Is leadership succession a topic discussed at the firm?

A

Yes, the topic is openly discussed among the firm’s owners

B

Yes, we discuss succession, but not in a substantive way

C

No, leadership succession is not openly discussed in our firm

Question 3 of 22

2/20

Does the firm have a written plan to address leadership succession?

A

Yes

B

No

Question 4 of 22

3/20

Does the firm have a written plan in place for handling the unexpected loss of the current leader?

A

Yes, we have a well developed written plan in the event of an unexpected loss

B

Yes, we have a written plan but it is not substantially developed

C

We do not have a written plan; however, there is a general understanding of steps we would take

D

We have not addressed this topic (We do not have a written plan; and there is no understanding of the steps we would take)

Question 5 of 22

4/20

What is the age of the firm's current leader?

A

Under age 50

B

50-55

C

56-60

D

Over age 60

Question 6 of 22

5/20

Which best describes the firm's approach to selecting its next leader?

A

The next leader is selected by consensus or near consensus of the owners

B

The next leader is selected by a vote of the owners

C

The next leader is selected by the current leader or leadership group

Question 7 of 22

6/20

Will the firm's next leader be required to possess certain leadership qualifications as a condition precedent to selection?

A

Yes

B

No

Question 8 of 22

7/20

What support for leadership development exists at the firm?

A

The firm regularly encourages leadership development activities including the pursuit of outside education and training as well as internal leadership development activities

B

The firm supports and reimburses for leadership development if requested by individuals

C

Leadership development is not a part of our firm’s culture or a priority for the firm

Question 9 of 22

8/20

Has a successor to the current leader been identified?

A

Yes, and there is universal support for the choice

B

Yes, but there are pockets of dissatisfaction

C

No, we have not identified our next leader

Question 10 of 22

9/20

How long has the firm's current leader served in that capacity?

A

Less than 3 years

B

3-6 years

C

6-10 years

D

More than 10 years

Question 11 of 22

10/20

Are there any other factors that should be considered in assessing the firm's readiness for leadership succession?

Part 2: Client Relationships

The second half of the diagnostic focuses on client/attorney succession

Question 13 of 22

11/20

Is client/attorney succession a topic discussed at the firm?

A

Client transition and preparing for it is a core part of our culture

B

We talk about client transition, but have no formal framework or policy

C

Client transition is not a topic that we have addressed in a substantive way

Question 14 of 22

12/20

Does the firm have a written succession plan to address client/attorney succession?

A

Yes

B

No

Question 15 of 22

13/20

Does the firm have a written plan in place for handling the unexpected incapacitation or loss of a lawyer who plays a critical role in a key client relationship?

A

Yes, we have a well developed written plan

B

Yes, we have a written plan, but it is not substantially developed

C

We do not have a written plan; however, there is a general understanding of steps we would take

D

We have not addressed this topic (We do not have a written plan; and there is no understanding of the steps we would take)

Question 16 of 22

14/20

What percentage of firm fee revenue is associated primarily with lawyers over age 60?

A

Less than 10%

B

10-15%

C

16-20%

D

More than 20%

Question 17 of 22

15/20

Has the firm calculated/determined its “succession gap” as defined here —

A firm’s succession gap is the projected difference during the next five years between the loss of revenue from attorneys likely to retire or otherwise leave the firm and the growth in revenue associated with the firm’s other attorneys.

A

Yes

B

No

Question 18 of 22

16/20

Which best describes the firm’s approach to any type of compensation support to facilitate client/attorney succession?

A

We have a compensation system that transparently recognizes and rewards client/attorney succession

B

We subjectively recognize and reward client/attorney succession efforts in setting compensation

C

Client/attorney succession is not a factor in our compensation system

Question 19 of 22

17/20

To what extent does the firm initiate conversations with clients regarding client/attorney succession?

A

We require our attorneys to have periodic conversations with client regarding the client/attorney relationship and how it will be impacted by succession

B

We suggest our attorneys have periodic conversations regarding client/attorney succession, but do not have a formal mechanism that attorneys must follow

C

Client conversations regarding client/attorney succession are not part of our culture

Question 20 of 22

18/20

Please indicate the degree to which client/attorney succession is addressed in the firm.

A

Client/attorney succession and preparing for it is a core part of our culture

B

We talk about client/attorney succession but have no formal framework or policy

C

Client/attorney succession is not a topic that we address in a substantive way

Question 21 of 22

19/20

If client/attorney succession is addressed at the firm, which of the following options best describes the firm’s process for the transition of key relationships from senior attorneys to more junior attorneys?

A

The firm is committed to causing and monitoring client/attorney succession, and we have a process in place

B

We monitor client/attorney succession activities but do not have a specific process that causes such activities to occur

C

We do not cause or monitor client/attorney succession to a significant degree

Question 22 of 22

20/20

Are there any other factors that should be considered in assessing the firm's readiness for the succession of attorney/client relationships?

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