Rise of the Legal COO (eBook)
159 Seiten
Globe Law and Business Ltd (Verlag)
978-1-78742-948-2 (ISBN)
In the five years since the first edition of this book published, there has been an accelerated rise in the number and influence of COO roles in the legal sphere. No longer the preserve of the largest national and international firms, mid-tier firms and even New Law and alternative legal service providers are considering a COO as a potential - perhaps even essential - component of law firm management, to achieve increased efficiency, productivity, and meet the demands of a highly competitive market. With contributions from a number of current law firm COOs, alongside some of the most respected and sought-after consultants working in this space, this second edition of Rise of the Legal COO examines the scope and variety of the legal COO role, and how the challenges and demands of the position have altered as law firms have evolved. It contains updated chapters from the first edition, and several brand new chapters covering topics such as:How the COO can enable innovation and digital transformation in their firm;The COO's role in managing profitability and client engagement;The use of data in law firm management; andThe New Law COO. There are also all-new, exclusive interviews with legal COOs from a variety of national and international firms, covering topics ranging from the importance of relationships and adapting to the new hybrid, post-COVID world, to encouraging innovation in firms and strategies to recruit and retain talent. There is no doubt that a good COO is an invaluable part of a firm's management team, and the opportunities for talented individuals with broad operational management skills will continue to grow. Heavily backed up by the first-hand experience of the contributors, this title provides essential guidance to the current and future legal COO on the skills and strategies they need to succeed, and to law firms on how to recruit, integrate, and develop a COO who will be a good match for their culture and help them achieve their ambitions.
Executive summary . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ix
About the authors . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . xvii
Part 1: Role of the Legal COO . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1
Chapter 1: Horses for courses – the spectrum of chief operating officer roles in law firms . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3
By Chris Bull, principal, Edge International
COO models . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5
Model 1 – “Riding shotgun” . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8
Model 2A and 2B – The chief finance and operating officer . . . . . 9
Model 3 – The internal service and procurement head . . . . . . . . . . 10
Model 4 – The infrastructure head . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 11
Model 5 – The shared service head . . . . . . . . . . . . . . . . . . . . . . . . . . . . 13
Model 6 – The practice COO . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 14
Model 7 – The operational transformation leader . . . . . . . . . . . . . . 15
The corporate legal operations head . . . . . . . . . . . . . . . . . . . . . . . . . . 16
Conclusion . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 17
Chapter 2: Shaping change: the rise of the COO . . . . . . . . . . . . . . . . . . . . . 19
By Laura McNair, head of people and operations, Totum
Defining leadership – why COOs? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 20
Makings of a modern COO . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 21
Stepping-stones – the business manager role . . . . . . . . . . . . . . . . . . 22
Structure and remit of the COO role . . . . . . . . . . . . . . . . . . . . . . . . . . . 23
What makes a great COO? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 25
Recruiting your COO . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 26
Into the future . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 27
Writing a COO job description . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 27
Chapter 3: The three flavors of law firm COO . . . . . . . . . . . . . . . . . . . . . . . . 29
By Stephen Allen, chief scout, Trampelpfad, and Mark J. Masson, managing partner, Lotis Blue Consulting Chief operating officers’ changing roles,
Role #1: “head of back office” . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 30
Role #2: “chief efficiency officer” . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 32
Role #3: the strategy driver . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 33
The empowered client . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 35
When to make a change . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 35
Where does a firm go from here? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 36
Chapter 4: The role of the chief operating officer in a law firm – post-pandemic . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 39
By James G. Perkins, chief operating officer and chief compliance officer at Procopio, Cory, Hargreaves & Savitch LLP
Background . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 39
Pandemic preparation . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 40
The comforter, managing uncertainty, and a Black Swan event . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 41
Strategy and uncertainty . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 43
Concluding thoughts . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 47
Chapter 5: Habits – are they your COO superpower or holding your firm back? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 51
By Paul Bennett, solicitor and partner, Bennett Briegal LLP
What is a habit? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 51
Habits matter . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 51
Business habits . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 52
Your habits . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 54
What positive habits should you adopt to discharge your COO duties? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 55
Conclusion . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 58
Chapter 6: When a new firm leader takes the reins . . . . . . . . . . . . . . . . . . 59
By Patrick J. McKenna, internationally recognized author, lecturer, strategist, and seasoned advisor to the leaders of premier law firms
1. Be clear on the new leader’s specific goals . . . . . . . . . . . . . . . . . . . 61
2. Be honest and candid in identifying those areas that the firm leader may regard as a weakness . . . . . . . . . . . . . . . . . 61
3. Sort out the reporting relationships . . . . . . . . . . . . . . . . . . . . . . . . . 61
4. Determine boundaries and division of responsibility . . . . . . . . . . 62
5. Identify expectations and the specific behaviors you want to see . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 62
6. Determine your preferred communications protocols . . . . . . . . . 63
7. The COO needs to know how to best read and interact with the firm leader . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 63
8. Determine how you need to operate in order not to undermine each other . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 64
The bottom line . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 64
Chapter 7: Factors that impede effective firm leader-COO relationships . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 65
By Patrick J. McKenna, internationally recognized author, lecturer, strategist, and seasoned advisor to the leaders of premier law firms
1. You need to have respect for one another . . . . . . . . . . . . . . . . . . . 66
2. There should be role clarity . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 67
3. Have the ability to compromise . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 67
4. Provide candid feedback . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 68
5. Beware of the divide-and-conquer ploy . . . . . . . . . . . . . . . . . . . . . . 68
6. Poor performance can overwhelm any relationship . . . . . . . . . . . 69
Conclusion . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 69
Chapter 8: The COO role in managing profitability and client engagement . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 71
By Steve Nelson, executive principal, The McCormick Group
History . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 71
Distinction between internal and external responsibilities . . . . . . . 73
Emphasis on profitability . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 75
Management of key categories . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 76
Impact of the pandemic . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 77
View of the future . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 78
Chapter 9: Three roles the COO must play to enable innovation and digital transformation . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 81
By Kate Boyd, COO, Sente Advisors
Introduction . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 81
COO as culture keeper . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 81
COO as technical strategist . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 83
COO as metrics maven . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 85
Conclusion . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 87
Chapter 10: The chief operating officer and the use of data in law firm management . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 89
By David S. Schaefer, managing director, Calibrate Consulting, Inc.
Maintaining competitive advantage in a digital market . . . . . . . . . 89
The power of KPIs for law firms . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 91
What are the right number of KPIs? . . . . . . . . . . . . . . . . . . . . . . . . . . . 93
Presentation of KPIs – dashboards and scorecards . . . . . . . . . . . . . 94
Changes in KPIs . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 94
The need for accurate and clean data . . . . . . . . . . . . . . . . . . . . . . . . . 95
Create a data-driven culture . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 95
How can you boost data literacy to support your KPI strategy? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 96
The future of data analytics in the legal industry . . . . . . . . . . . . . . . 97
Annex: list of possible KPIs and metrics . . . . . . . . . . . . . . . . . . . . . . . . 98
Chapter 11: The New Law COO . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 101
By Kiran Scarr, counsel – transformation, Support Legal Limited
The emerging dominance of New Law . . . . . . . . . . . . . . . . . . . . . . . . . 101
The business of New Law . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 104
The New Law COO . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 107
The leadership behaviors of a New Law COO . . . . . . . . . . . . . . . . . . . 107
Collaboration for growth . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 111
Part 2: Interviews with Legal COOs . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 113
Interview 1: Peter Blair, chief operating officer of Quadrant Chambers . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 115
Interview 2: Kimberly A. Gardner, chief operating officer of Holland & Knight LLP . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 121
Interview 3: Ricarda Hauke, chief operating officer of Taylor Wessing Partnerschaftsgesellschaft mbB . . . . . . . . . . . . . . . . . . . 131
Interview 4: Andrew Keith, chief operations officer of DAC Beachcroft LLP . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 135
Interview 5: Jennifer P. Keller, president and chief operating officer of Baker Donelson . . . . . . . . . . . . . . . . . . . . . . . . . . . 139
Interview 6: Darren Mitchell, chief operating officer of Simmons & Simmons . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 145
Interview 7: William Robins, operations and compliance director, Keystone Law . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 151
About Globe Law and Business . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 159
| Erscheint lt. Verlag | 31.1.2023 |
|---|---|
| Verlagsort | London |
| Sprache | englisch |
| Themenwelt | Recht / Steuern ► Allgemeines / Lexika |
| Recht / Steuern ► EU / Internationales Recht | |
| Recht / Steuern ► Privatrecht / Bürgerliches Recht ► Berufs-/Gebührenrecht | |
| Schlagworte | Chief operating officer, Legal COO, Operational management, Legal operations |
| ISBN-10 | 1-78742-948-2 / 1787429482 |
| ISBN-13 | 978-1-78742-948-2 / 9781787429482 |
| Haben Sie eine Frage zum Produkt? |
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