Practice turnaround and the role of the practice leader: have you got what it takes?

In this series, we are looking at leadership in a crisis.

Practice management, how to spot an underperforming practice and how to turn things around are perennial challenges for professional and financial services firms. These problems which were exacerbated during the pandemic have been brought into sharp relief with recession looming, with practice leaders, firm managements and boards in crisis mode, with little time to focus on the day-to-day practice management.

Building High Performing Practices explores the nature of practice group underperformance and its causes. The report examines three key areas of focus that leaders have used to turn underperformance around and put practices onto a growth trajectory. To inform this report, we’ve interviewed 40 leaders across the professional services industry to capture the wisdom from their experiences in leading these changes.

Chapter one focuses on the role of the practice leader, looking at what makes a high-performing leader, how to manage underperformance and a whole host of top tips for leaders.

Read chapter one here.

Author
Mike Mister
Mike is a Partner at PSFI and works with professional services firms on designing, developing and supporting change agendas and building improved leadership capabilities in partners. His areas of expertise include helping organisations understand the importance of partners as leaders in building sustainable practices, the leadership and motivation of diverse, high performing teams and leadership across the partner life cycle.
View Mike Mister's profile
Author
Mike Mister

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