Welcome to The One Minute
Manager. Our goal is to provide you with quick
tips that will enhance the success of your practice.
Within 60 seconds you will gain an idea that will
increase your profitability or simply ease the burden
of a difficult management issue. We hope you will
find
this a valuable resource.
The One Minute Manager . . . . .
Mount Vesuvius erupted in 79 AD burying Pompeii.
During recent excavations, they discovered the
following expression inscribed on a wall: "What is
happening to the younger generation?". It is
comforting to know that ancient history reflects the
same anguish that each generation views of their
successors. Despite the anguish, every generation
has accomplished much, albeit with differing values
and approaches.
Most law firm management positions are held by Baby
Boomers who have lived through a working life of
unprecedented success rooted in hard work,
promotion based on longevity, and respect for
authority. This work style succeeds particularly well in
a law firm. The economics of a law practice requires
high billable hours; and the competition for business
requires unrelenting pressure from demanding
clients.
Generation X - those born between 1964 to 1980 -
have rebelled against this business model. Many are
products of daycares, divorces, exposed earlier to
negative world events, and witnessed their hard
working parents lose their jobs from uncaring
employers. They are very cynical of following the
same path as their Boomer bosses. Generation Y -
those born after 1980 - faced similar experiences but
enjoyed greater independence together with a sense
of entitlement.
Few law firms have adapted to the X- Y generations
either in regard to the lawyers or the staff. At this time,
Generation X represents 29% of the workforce and
Generation Y is 15% of the workforce. Within a few
years, they will become the majority and the present
law firm approaches will become unworkable.
Today's highly profitable sweatshops will no longer
have a constituency to maintain the Boomer model.
An evolving law firm will have much to gain by
embracing this very bright generation. They are
confident, team orientated, eager to gain promotion by
performance rather than seniority, truly computer
literate, and have high expectations of themselves. All
are great qualities for a highly successful law firm.
Also remember that your client base is shifting to
the X - Y Generation and they will have little interest in
a firm that does not reflect their values.
The world has progressed far since 79 AD, and will
further advance with each succeeding generation.
Robert Hardie, Managing Director
Management Counsel Group
phone:
(416) 402-0759