A comprehensive guide to partner compensation and contribution management in professional services firms
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A firm’s profit sharing model is central to its partnership ethos and culture.
In this comprehensive handbook, Michael Roch and Ray D’Cruz 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.
Filled with practical insights, this book draws on principles of partnership, motivation and incentives in human capital management, and executive compensation in closely held businesses. Looking beyond the numbers, the authors balance the big picture with a detailed how-to for any professional partnership, irrespective of geography, size and maturity. The core elements cover:
In addition, the book addresses contemporary and specialist topics such as rewarding partners in management roles, incentivising collaboration, supporting diversity and well-being, and how firm leaders can engage partners on the journey of evolving their partner compensation system.
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