Compensation and Remuneration Revisited
Clarifying and Defining What the Firm Expects of its Partners Before deciding the best method of compensation and profit sharing in law firms, it is important to be clear about what the firm expects of its partners and what roles and responsibilities it needs them to perform. Partners equally need to be clear how they […]
Linking Partner Targets to Profit Shares
The issues of partner performance and rewards are rising on law firm agendas, especially with the impact of new age discrimination legislation. Law firm leaders talk a good game about how the firm ‘rewards what it values, and values what it rewards’ but in reality many firms give scant regard to anything except seniority and […]
Be a Cheerleader for Downsizing
To reach their potential in productivity and profitability, greater numbers of firms than ever before have been focusing very seriously on the development of effective practice groups. However, many firms succumb to the temptation of choosing the wrong professionals to head up their practice groups. Historically, firms have tended to make practice leader that individual […]