Remuneration (Re)Design for Law Firms
Published: July 2016
Publisher: Ark Group
Country of Publication: UK
Format: Paperback (98 pages)
The issue of compensation in law firms can be a minefield; the question of how to measure and reward partners combined with the increased pressure to provide greater value for less, more and more firms are being forced to rethink how legal work is priced and staffed, and how lawyers should be evaluated and compensated.
Compensation (Re)Design for Law Firms is designed to help law firms develop a strategy and framework to ensure consistency and quality of compensation decisions, retain and motivate individual lawyers, and incentivize them in ways that will benefit the partnership as a whole.
Compensation (Re)Design covers topics including:
- Why compensation programs exist in the first place
- Best practices for partner compensation
- Current trends in partner compensation in professional service firms
- Combining KM and business development processes to provide additional client value
- Utilizing individual scorecards to encourage partner performance
- The vital components of a well-conceived compensation plan
- Compensating and incentivizing right behaviours
- Aligning a firm's compensation and strategic plans
- Evaluating the effectiveness of the firm's compensation system
- Compensating 'management' to ensure future success
...and features expert insight, pragmatic guidance and supporting case studies from the likes of:
- James D. Cotterman, principal of legal management consultancy Altman Weil, Inc.
- August J. Aquila, CEO of AQUILA Global Advisors, LLC
- Joel A. Rose, president of Joel A. Rose & Associates, Inc.
- Michael Roster, co-chair of the Association of Corporate Counsel's Value Challenge Steering Committee; previously managing partner of Morrison & Foerster's Los Angeles office and GC of Stanford University
- Arthur Greene, principal of Boyer Greene LLC
- David C. Baca, partner, Davis Wright Tremaine LLP
- Julious P. Smith, Jr., chairman emeritus of Williams Mullen
- Thomas Berman, principal at Berman Associates
- Timothy B. Corcoran, Principal at Corcoran Consulting Group, LLC
- John Jeffcock, Chief Executive, Winmark
Compensation (Re)Design will help all law firm leaders establish a flexible compensation strategy that will address the current and future strategic needs of the firm.