Navigating Staffing Challenges as a Partner: Insights from the Trenches
As a mid-level equity partner, I often find myself caught in the whirlwind of responsibilities that come with the territory. Just a few days ago, I wrapped up a significant sell-side transaction for one of my largest clients. Despite the exhaustion from not having spent quality time with my family over the past three days, the success was a welcome boost to my spirits.
However, life in the corporate world can be unpredictable. On my way home for what would likely be a brief moment with my wife before she turned in for the night, I received a call from my department head. Without hesitation, he voiced his frustrations about our current staffing situation. His main concern? My General Manager (GM) was falling short, despite our millions in billings. He dropped the responsibility of resolving this issue squarely on my shoulders.
As I processed his words, I felt a simmering frustration. I was eager to reconnect with my wife—even if only for a fleeting moment—but instead, I faced a critique from someone who has long since lost touch with the daily grind we endure.
Moments later, my evening became even more complicated with a call from a senior associate. While he typically does an adequate job, he had missed an important deadline. An inconvenience, certainly, but one I had resolved to handle—until he proposed involving a junior associate in the project. The issue? This junior had a knack for over-documenting every assignment, which I knew would lead to significant write-offs that could jeopardize our profitability.
It became clear that the senior associate lacked an understanding of the business’s financial intricacies. To him, billing hours seemed to be the sole focus, with concepts like margin and profitability having little relevance. In that moment, I decided to take a stand. I firmly communicated to him that long hours of billing do not equate to effective work. The necessity of understanding the broader business implications was critical, and I made it clear that I would not involve the junior on any of my files.
While the senior associate appeared taken aback by my candid approach, he acknowledged my points. As I drove home, I couldn’t shake the feeling that perhaps my delivery was too harsh. Did I overstep, or was it necessary to reinforce these fundamental concepts?
Conclusion: In high-pressure environments, communication and clarity are essential, but they must be balanced with empathy. As partners, we’re not just leaders but also
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