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  April 2008  
 

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