Partner compensation is a topic of perpetual debate but rarely positive change. Too many focus on the formulas and mechanics that will “divide the pie” rather than growing it first. We look at partner compensation more broadly, working with senior leaders to:
- Develop partner roles to match firm needs with best and highest use.
- Design the evaluation and income determination process including criteria, data, process, and governance/rules.
- Create the profit pool and income distribution system.
Many firms spend weeks or months working to find the right solution, only to realize that partners are still muttering “unfair,” and leadership is not seeing progress toward desired performance goals. If no one is satisfied, the model isn’t working. So what is the key to successful partner performance management and partner compensation? Making sure performance “asks” and compensation “gives” are tightly linked and both are focused on addressing the achievement of strategic firm goals.
Visit this page to download our latest report The Partner Performance Management Playbook to find out how to successfully implement a partner compensation plan.
