This month sees the release of the The Partner Remuneration Handbook - A Guide to Compensation in Law and Other Professional Firms, by Performance Leader’s Michael Roch & Ray D’Cruz.
In this comprehensive handbook about partner compensation in professional firms, Michael and Ray provide guidance for senior and managing partners, partnership boards, remuneration committees and all others involved in the partner compensation process on designing effective profit-sharing systems, reaching fair reward decisions efficiently and implementing contribution management processes that motivate partners.
Michael and Ray have each been advising firms on sensitive partner issues for over 20 years. The handbook combines practical insights gained through their consulting work and extensive interviews, with theoretical principles of partnership, motivation and incentives in human capital management and executive compensation in closely held businesses.
The key sections of the handbook cover:
Part I. Trends shaping partner reward
Part II. Reward structures in professional partnerships, including the seven primary partner reward systems
Part III. Managing partner contribution, including motivating high-achieving partners, aligning contribution, objectives and measures, performance conversations, addressing underperformance and reporting and analytics
Part IV. Key elements of effective reward governance, including Remuneration Committees, decision making and communication
Part V. Special issues, including collaboration, rewarding partners in management roles, DEI, wellbeing and change
Part VI. The way ahead: ten principles for partner remuneration systems in ambitious professional services firms
Find out more and pre-order your copy from the publisher, Globe Law and Business.