Insights from Joel Barolsky now on the Resolution Room!
Joel has been a strategic advisor in law and professional services for over 30 years (www.barolskyadvisors.com). He has also co-authored the Australian edition of the Thomson Reuters State of the Legal Market Report and is a Senior Fellow at Melbourne Law School, University of Melbourne, where he teaches the business of law.
I asked him the question: “What makes law firms fly - or die?”
Joel identified five key factors:
1. Shared Direction
This is about vision and strategy, working in the right markets for the right clients.
2. Shared Values
Values remain critical - but only if they are lived, and not rhetoric. If you want to dive deeper into this topic, check out my great conversation with Steve Simpson on Unwritten Ground Rules (UGRs).
3. Shared Power
This is a feature of the partnership model, which, despite talk of its demise, remains prevalent. Shared power empowers individuals, allows individual flair and performance - while still valuing the collective.
4. The Shared Pie
This touches on remuneration and governance - a topic for a whole different podcast! Joel and I briefly discussed various remuneration models in legal services which serve to promote both meritocracy and collaboration- an elusive and ever-present challenge. Many of us have seen firsthand the danger of more purist individual performance models which (at their extreme) can allow for what Joel described as 'cultural terrorists'.
5. Leadership and Management
Bringing all these forces is an effective central management, which promotes efficiency and fairness, allows different voices to be heard, and ensures cultural alignment.
Joel described these 5 factors as both a framework and a diagnostic tool, referencing some firms which no longer exist as examples.
We ended on a note of optimism. Although we agreed that technology - especially AI - will disrupt process-driven work and pricing, lawyers of the future will be more rewarded for what used to be described as 'soft skills', including their ability to partner with clients in complex, grey areas of law. That is, when some level of technological parity is reached (and this race is certainly on), there will be a premium placed on the human skills of partnership, including solving complex client problems.
I regularly share short insights on mediation, negotiation and all things leadership. From how to optimise success in negotiations, to the skillset required to sustain high team performance and promote resilience. I share these video reflections, drawing from my experience both as a former leader in professional services and now as a mediator and leadership coach.
"Damien is an incredible Mediator. He is experienced, is always across the brief and has a depth of legal knowledge that can assist the parties to navigate even the most complex issues to reach a resolution. Damien is my first choice for any Mediation, especially for vulnerable plaintiff’s feeling overwhelmed by the process as they are immediately comforted by his affable and empathetic nature.”
Damien was engaged as an Executive Coach in our business to navigate a half-decade of poor habits, realign our leadership team and position us for a strategic exit.Facilitating an executive workshop was instrumental in resolving internal conflicts and realigning us to a collective focus on future opportunities.
I have especially appreciated your logical and calm approach to problem solving, and I have valued your methodical and composed demeanour in tackling complex issues. You have not only equipped me with effective strategies but also instilled a sense of confidence and clarity in my own decision making processes.
