For a number of years now there has been a lot of debate about the benefit or otherwise of Partners taking on Non-exec Director roles (NED) balancing this with concerns around conflict, focus etc... http://www.thelawyer.com/non-exec-role-needs-careful-consideration/120698.article. However it is a healthy way to develop individual skills and explores how to be more valuable to clients both within the firm and on into the future.Whilst this debate rages within partnerships, there is another debate going on within Head Hunters or Recruitment consultancies, about whether Lawyers are ‘any good’ as NEDs. This appears to be because too many lawyers approach being an NED as a lawyer, or think they could/should offer cheap legal advice, when in fact they are required for their commercial/business and sector experience and connections.
In the third corner are the potential boards of commerce, NFP, etc., who on the whole have no idea just what many of the Partners involved in running their legal practices have to contend with and just how relevant their experience could be. This gap will slowly decrease over the coming years but it will take some time unless Partners learn more about how to have a more flexible approach to just what is valuable about their experience. If you are interested in opening this debate, let us know as Simon is able by run in-house sessions on what it means to be an NED (as a lawyer himself).
So to those MPs who are adamant they do not want their high performing Partners and lawyers to be distracted from billing just keep your eyes on the longer term career for these good people – as this too may offer a graceful way out through the ‘gate’ of retirement.