In January 2017, the Professional Practices Alliance hosted a well-attended breakfast seminar entitled "Partner Contribution and Reward: Creating Partner Remuneration and Evaluation Processes to Drive Your Firm's Business Strategy".
In March 2017 the session was rerun and recorded to allow more people access to this interesting discussion.
Clare Murray of CM Murray LLP chairs the session in which David Shufflebotham (Partner Contribution & Reward Specialist and Founder of PEP-UP Consulting Limited), Bettina Bender (Partnership and Employment Law Specialist, CM Murray LLP) and Corrine Staves (Partnership Specialist, Maurice Turnor Gardner), discuss key issues relating to partner contribution and reward.
The discussion considers the following issues using real-life examples and experiences from professional services firms:
- How can firms create a new partner evaluation and reward structure to drive the strategic business plan and ensure all partners are pulling together in the same direction?
- How do you balance and weigh business development, cross referral, mentoring, leadership, conduct and other key expectations, against all important financial targets?
- What governance structures and management skills will you need to get your new partner evaluation and reward systems to work?
- And what about partners on maternity leave, on long term sick leave, or on part-time/flexible working - how should your reward system minimise those risks as far as possible?