Over the past decade, Reed Smith LLP has grown by mergers and acquisitions. Sure, that growth is great, but it can be a problem if the merging companies aren’t compatible culturally.
“We thought we did our homework in each transaction,” says Greg Jordan, global managing partner of the law firm, which saw 10 percent growth from 2007 to 2008 and posted more than $980 million in 2008 revenue.
“We did our due diligence. We thought we were merging with organizations that had compatible cultures. I think we got that right. But, when you grow so quickly through combinations, this seemed to be an important checkpoint to make sure that we had everybody understanding what we were trying to accomplish, what we were about and that we were roughly on the same page.”
So in early 2008, Jordan brought in a consultant to conduct group meetings with more than 400 of Reed Smith’s employees from all levels to find out what they thought were critical cultural values to continue the success of the firm.
“For any organization that’s undergone substantial change, whether it’s change through mergers, change through key personnel, change through divestitures, whatever it might be — if you’ve gone through substantial change, then that might be a good time to do a double-check on your core values.”
To Jordan, the keys to creating a solid culture for the 3,300 people that work at the firm revolve around understanding those core values, communicating and then reinforcing the importance of them.
“It’s making sure that’s not just something that gets dusted off once a year, but it’s something that becomes an everyday part of the company,” he says.
Those values and the company’s culture are directly linked to the company’s success.
“It’s like having a healthy atmosphere at home in your family, and it has a lot to do with how people are doing,” he says.
Here’s how Jordan refreshed the company’s culture and how he is energizing it for the future.
