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Compensation systems are typically a strategic afterthought, seen as the means by which to allocate the spoils of a successful strategy. They’re viewed as affecting the level of grousing among partners, but not a firm’s performance. The data, however, indicates the reverse is true. Profitability growth has varied markedly by compensation system over the past decade, while partner satisfaction has been consistent across all systems. The choice of compensation system is thus best thought of as a critical strategy decision, with second-order implications that leaders need to think through and manage adroitly.
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How to Build the Law Firm of the Future
By Joel Wirchin
The onus is on law firm leaders to balance risk and opportunity. How can firms guide through an increasingly perilous landscape rife with opposing hazards to start building the law firm of the future today?
The Flight to Quality and Workplace Experience
By Anthony Davies
That the pace of change is “accelerating” is surely an understatement. What seemed almost a near certainty a year ago — that law firms would fully and permanently embrace work-from-home — is experiencing a seeming reversal. While many firms have, in fact, embraced hybrid operations, the meaning of hybrid has evolved from “office optional,” to an average required 2 days a week, to now many firms coming out with four-day work week mandates — this time, with teeth.
Old Dog, New Tricks: Time to Retire Associate Lockstep Compensation
By J. Mark Santiago
This article maps out a system that would enable law firm management to implement a meaningful pay-for-performance system that drives positive associate performance and enhances the firm’s culture.
Determining Law Firm Employee Classification Through the ABC Test
By Jonathan Weinberg
Law firms have traditionally been large consumers of contract labor for a variety of purposes. These workers are traditionally classified as independent contractors, issued a 1099 and treated as ineligible for employee benefits. In recent years, many states have started to adopt the “ABC” test to determine whether a worker should be classified as an independent contractor or an employee.
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