How Should Firms Measure Partner Contribution?

Professional Practices Alliance (PPA)

We are delighted to bring you this recording of an expert discussion on "How Should Firms Measure Partner Contribution?" between leading specialists in Partnership & Employment Law, Partnership Compensation, and Law Firm Management.

The discussion was chaired by Corinne Staves (Maurice Turnor Gardner LLP), with panellists Claire Watkins(Buzzacott LLP), David Shufflebotham (PEP-Up Consulting), Robert Millard (Cambridge Strategy Group), Sarah Chilton (CM Murray LLP), and Zulon Begum (CM Murray LLP).

The question of how professional services firms should measure partner contribution is a complex one, and is made no less complex by the unprecedented times in which we live. However, these times also present an opportunity for firms to rethink and refocus the way they measure partner contribution for the better in the future.

The key themes you can hear addressed by the panel are:

1. The importance of defining and effectively measuring partner contribution.

2. Dealing with the age-old problem of how best to measure cross-referrals within firms.

3. How firms can align partner contribution with the business’s strategy and success?

4. Being aware of common discrimination risks in the way firms typically measure partner contribution and effective steps to avoid those risks as far as possible.

5. Using professional services constitutional frameworks to embed KPIs and encourage the right contributions from partners.

6. Is it one size fits all when it comes to partner contribution or is the situation different for smaller firms? If so, how should they adapt?

7. In what ways might the COVID-19 crisis change how partner contribution is measured?