Midsize law firms rethink C-suite strategy, Bricker included in industry trend
In a recent article, “Midsize Firms Still Navigating 'Sea Change' on C-Suite Roles” (subscription required), Law.com’s Mid-Market Report reveals that many midsize law firms are shifting their leadership strategies, often consolidating, reinventing or omitting traditional executive roles. Rather than relying on historic organizational charts, they are using this post-Great Recession era to evaluate the firm’s greatest needs and opportunities rather than simply fill a position.
Using the firm’s Business Development department – and the recent hire of Chief Business Development Officer TaKeysha Sheppard – as an example, Managing Partner Jim Flynn describes how Bricker’s structure has evolved gradually over time. Flynn remembers “when a lot of the [the firm’s management] functions were performed by lawyers.” However, Bricker has eliminated some attorney leadership roles in favor of hiring business professionals to grow and manage the business.
Flynn also describes that before filling the Business Development role and before acquiring TaKeysha, the firm paused the hiring process to reinvent the role, “using other professional services firms as models.” Similarly, midsized firms are adjusting their perspective on management positions. No longer are C-suite positions considered cost centers for firms but as profit centers.