Pawlow And Rice: Firms That Prepare Future Leaders Will Have A Competitive Edge When Succession...

Expert Q&A

Jeff Pawlow and Coral Rice of The Growth Partnership, based in St. Louis, are among the profession's foremost experts in leadership training. Here, they discuss the essentials of identifying a great leadership training program for your firm.

Q: What's driving the increasing

A: Succession planning. People aren't really asking about leadership; they're asking about succession. We believe we'll see that issue gathering steam and momentum in the next few years. A handful of people say they want to groom leaders, but most want to ensure their firms' futures. Candidates for these leadership roles need better skills in communication, business development, practice management, productivity and project management, and they need help developing them. Aging partners are beginning to wonder if their retirements are secure, because they're not confident that younger generations can or want to lead the firm. As much as we'd love to see an altruistic motive for leadership training, it's really a matter of self preservation that's driving demand. We believe we're five years away from the succession crisis in the profession really ramping up, and firms that have prepared will have a competitive advantage. We predict that if firms don't address their succession issues today, many will sell at a discount tomorrow.

Q: What criteria should firms use to select those they send to leadership training?

A: Don't send people you want to fix. Send your stars. If you focus your energy, resources, attention and time on people who are already on board, who are excited and want to be part of your future, then you're more likely to get others looking and saying, "Oh, pick me too!" Lead the people who want to be led and help them develop leadership skills. Manage the rest. Sometimes firms we work with are concerned about controlling havoc if they tell people they're not going. Have the courage to manage those reactions and to send a message to the rest of the gang: "Hey, we see these people as our potential future. If you want to be part of our potential future, you can be. Help us understand that level of interest through your actions on a daily basis."

Q: How do I see ROI on our investment in leadership training?

A: Whoever you work with, whether it is an outside training or consulting firm or your own internal resources, should have some level of accountability to you and your organization. Most assess ROI by determining whether the participants liked the program via completed evaluations. Some even determine through testing or other evaluation whether participants actually learned anything. A good consultant will help you evaluate whether participants are actually applying what they learned, if it's making a difference in your organization, and what you've gained by its application. Examples can include the business brought in, time saved, processes created, and the effect on the teams participants work with. There must also be some type of accountability index. One key to measuring ROI is knowing what you want to achieve in terms of measurable results and changed behaviors before going in. What do you expect in terms of business development or customer satisfaction? Tell your leadership training provider your specific desired results.

Q: What's the role of shareholders and other leaders of the firm who aren't attending the leadership training?

They should see themselves as "sponsors" of the trainee. They should agree to learn enough about the program at a high level so they can support and champion each person's participation and help remove roadblocks when it's time to implement lessons from the program. Often, participants feel a little hamstrung in being able to apply what they are learning. Older and more experienced partners should help clear the way for them to take lessons learned back into the firm.

Q: How do we ensure that lessons from the program are sustained on an ongoing basis?

A: Most firms have experienced training programs that generate lots of excitement beforehand, and two weeks after the program, almost everything's forgotten. Look for a program that has people prepare, participate and follow up. Studies show that if participants reconnect and recommit after the program, retention goes up to 80%. If they don't reconnect and recommit, retention is less than 10%. We recommend weekly reconnections to the content and sessions with a personal coach after the program is completed.

When they recently launched The Partner Institute, a leadership development program, Pawlow and Rice anticipated holding one session in its first year. Demand was so strong that they ended up with three sessions, plus exclusive sessions for an association and a customized in-house program for at least one firm. Pawlow and Rice can be reached at (314) 209-0922; info@thegrowthpartnership.com.