As the profession changes rapidly, it is time again for a refreshed firm strategy. When considering how to approach planning, the topic can be polarizing. Some of the firm's leadership generally embrace the process and appreciate documentation on priorities, and some avoid it as much as possible and say that their plan "is in their heads."
Whatever the preference for rolling out a strategic plan, it is essential that firm leadership establishes firm goals and priorities so everyone is on the same page. Competing priorities can wreak havoc on progress and firm culture even when partners agree on goals. Interpreting how to best execute these goals can be a sneaky derailer.
So, what do you do when partners and departments have competing priorities? Many leaders deal with this frustrating issue.
He said: I am sometimes surprised by the number of partners who struggle with other partners on decisions relating to the firm. Once leaders decide on the firm's direction and goals, partners should stand united and work together to achieve these goals so the firm succeeds.
She said: I am not surprised by this, unfortunately. Firm leadership may set a goal involving being best in class in client service, growing at a specific rate, or expanding geographically. This goal may include recruiting a particular type of talent or upgrading the client list or firm's offerings. The problem is that we fail to anticipate the room for goal interpretation. Interpreting how to execute is an unanticipated area where many obstacles and issues arise. You can have two partners competing for resources or making decisions that ultimately contradict one another, all to reach the same declared goal.
He said: I have seen this. One typical example is when one partner holds on to all clients — unprofitable ones included — and works to super-serve them to support showing up as a great client service partner. Other partners may be culling their clients, so they have the time and resources to serve top clients better. Both behaviors technically work towards the same goal but are also in conflict. This inconsistency causes frustration on everyone's part, and dispute generally arises.
She said: In this case, leaders must be on the same page regarding client ranking, client profitability targets, and client culling consistently across the firm, which allows all partners to focus on super-serving clients, which supports the overall goal.
He said: I agree. This tends to be a challenging topic.
She said: Speaking of challenging topics, another common conflict when working towards a goal is the tug of war related to productivity goals and flexible work schedules. Having solid productivity goals supports the goal of increased profitability, whereas flexible work schedules support the vision of being a preferred employer. Some see these as forces working against one another. Again, conflict ensues.
He said: I can see where that can happen. Which goal trumps the other? Are they in alignment or do they contradict each other? Both goals can be achieved if clarity and behavior expectations exist.
She said: There is no denying that partners need to be on the same page with the expectations, or the culture suffers. Avoiding these conflicts or disagreements can quickly impact buy-in and trust at the partner level, creating firmwide inefficiencies and confusion at the team member level. Disagree in private, debate it, then commit to buying into the decision as a leadership group and always support one another in public.
He said: In these examples above and in many other potential conflict areas, ongoing discussions and clarity on how to best accomplish goals and roll out initiatives can help eliminate competing priorities.
They said: Firm goals and priorities should not compete if the firm has clearly articulated its vision of where it is heading and how it wants to be known. When it comes to addressing competing priorities, the sooner, the better. The longer these issues fester, the worse they can become. The best leaders are committed to working together and through conflict in a timely and healthy manner. Part of the planning process should include addressing these conflicts as they arise. This approach can help firms achieve goals and realize the organization's vision, which is exciting and rewarding for everyone involved.
