Managing Performance Reward

Tutor: Peter Scott  CPD Hours:  35 hours  Duration: 6-9 months

Course Cost: £1395

• Understanding the different methods of reward used by law firms to remunerate partners and the relative merits of each.
• As part of devising a partner reward mechanism matched to contribution, identifying the skills required in your firm to deliver to clients the range and levels of service they will require in the future, and the related partner ‘skills and performance gaps’ which will need to be remedied and enhanced if your firm is to become and remain client competitive.
•  Understanding your partners’ ‘culture and values’ in order to be able to:

identify what will be needed to motivate partners to enhance their performance levels to meet the needs of clients in the future; and

recruit and retain high performers

• By understanding your clients’ needs and your partners’ values, to develop transparent and effective mechanisms to measure, and appropriately and competitively reward, partners’ performance in a way which helps to advance the achievement by your firm of its objectives.
• Understanding how, as part of a change management process, to implement a move from one form of partner reward mechanism to another.
• Learning how to use reward mechanisms in relation to developing career paths in your firm (including succession planning) as a way of achieving enhanced performance and to advance your firm’s goals.

• An in-depth understanding of:

how different methods of reward are used by law firms to remunerate partners, and their comparative merits relative to achieving a firm’s objectives.

how to measure partner contribution; and

how to match partner reward to partner contribution

•  The ability to devise and implement a partner reward mechanism in your firm based around matching partner reward to partner contribution and designed to:

enhance performance in those areas identified as requiring improvement if your firm is to advance its objectives; and

enable you to recruit and retain high performers  

• Identify the key areas of performance in your firm which you will need to improve, measure and reward, in order to manage your business more competitively.
• Identify the areas and the causes of under-performance on the part of partners and the factors in the culture and values of your firm which are likely to motivate partners to take steps to improve their performance.
• Develop an effective partner reward mechanism designed to achieve higher performance and aligned with your strategic objectives
• Improve your firm’s ability to recruit and retain high performers.

Download an application form here