Publications
Managing Partner Magazine's Risk Management for the Modern Law Firm Forum
July 2008
Sedgwick partner Randy Miller, chair of the firm's Professional Liability Practice Group, spoke on two panel discussions as a part of the Ark Group and Managing Partner Magazine's Risk Management for the Modern Law Firm Forum. This one-day master class was designed to take an in-depth look at several key risk issues facing today’s law firms by exploring tools they need to translate risk management theory and policy into real-world practice.
Mr. Miller spoke on the following panels (official panel descriptions below):
Managing Risk Associated with Rapid Growth and/or Mergers
Mergers and rapid growth put stress on the entire organization. Whether or not your firm has or is planning to merge with another organization, growth strategy is often a top management concern. Spikes in lateral hiring and even aggressive organic expansion create similar challenges. Surges in volume (rapid growth) or organic expansion create similar challenges and the lessons are mutually beneficial. This session identified key issues and challenges that “spike” in the run up to, during and after a merger or growth spurt. This session explored and discussed:
- Understanding the growth risk landscape: strategic vs. operational risk
- Streamlining conflicts management during periods of rapid growth
- Managing client expectations and service experience amidst changing firm composition
- Protecting confidential information as new resources join (or leave) the firm
- Accelerating productivity and avoiding poor impressions when bringing on new resources
Lateral Movers at Law Firms: Perspectives, Opportunities & Business Risks
How does your firm navigate the risks and rewards stemming from lateral hires as a growing factor in improving the quality of legal services and profitability? This session explored risks associated with lateral attorney movement. It also looked at steps firms can take to prevent defections and issues to be aware of when attorneys do leave (pertaining to information management and confidentiality). Attendees will explored and discussed:
- Best practices and pitfalls for managing lateral hiring activities
- Techniques for identifying potential lateral departures before attorneys leave
- How to handle client information when attorneys join or leave
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