Career growth at a law firm: Oleksandr Polivodskyy has disclosed five key factors
Partnership is an integral part of any firm’s development strategy. And although such crucial issues are always determined jointly, it is not possible to altogether avoid problems. At the same time, it is quite possible to minimize negative outcomes and eliminate typical mistakes.
During his authored lecture for the training course Leadership in Law recently held in Kyiv, Sofiya Law Firm’s Partner Oleksandr Polivodskyy told about partnership, its forms and types, the key factors driving associates up the path to partnership, and a law firm’s organizational structure.
Thus, in his expert opinion, apart from work experience, a law firm’s partner must possess certain skills and expertise that make him stand out among the firm’s average staff members, such as:
1) ability to take on responsibility;
2) organization of new practices, development of contacts, image formation;
3) leadership skills - management and mentorship;
4) understanding of managerial functions;
5) creative thinking.
When talking about the organization and establishment of partnership, Mr Polivodskyy pointed to some widespread mistakes causing misunderstandings and conflicts and ultimately resulting in the closure of business. They are unreasonable romanticism and naivety, overestimation of available resources and, on the contrary, underestimation of one’s own potential. Another factor of particular importance is, of course, the financial rules that should never be neglected. ‘The ‘everything-equally-shared’ model is unlikely to succeed,’ Mr Polivodskyy asserts, ‘just as the policy of sole use of shared resources. In this context, there should be a system of mutual financial reporting to secure ethical conduct by all partners.’
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