Making Excellent Performance Pay

Venue: TBC/ London

Location: London, United Kingdom

Event Date/Time: Apr 22, 2010
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Description

Most firms have gone into a continuous cycle of reviewing fee income, debt and cost reduction exercises including re-organisations. Faced with the challenges the recession has posed, Executive teams should now be looking for ways to respond to these challenges, including how to retain the firm’s USP (unique selling point) – and retain talented partners and staff.

Senior Management teams should have clear focus on what will add most value to the business and should understand the relationship between value creation and performance in the core processes. They should be capable of identifying any brakes that are seriously hampering performance or spurs that could improve profitability – and develop initiatives to address either.

Having altered the firm’s structure or delivery of legal services, agreed shorter/different working hours, as well, perhaps, as remuneration, firms now need to find creative ways to energise and re-align partners and staff with individually and team-led reward strategies. These should be designed to support the individual, the practice area teams as well as the health and wealth of the firm. Firms such as McDermot Will & Emery, UBS, Reed Smith and DLA Piper have declared that Performance Related Pay is the way forward for the next decade, and to develop the lawyer for 2020.

Many senior leaders may feel ill-equipped nor know where to turn to and so what actions to take. Turning the fortunes of your firm around may require bold action in a time when many have become more and more risk-averse.

Assuming that you and your firm have already evaluated your threats and opportunities with regards to the marketplace, established the range of services and practice areas that will (or will not) have a huge impact on your firm’s success in the coming months. These forecasts for your firm for the next year to 2 - 5 years will only happen if you can guarantee, your partners and staff will deliver your plan. This interactive one-day masterclass will offer ideas and guidance on how to align your and their aspirations, career paths along with the needs of your clients, delivering excellence.

Do not miss this unique opportunity to get up-to-speed with the critical subject of radical thinking in your firm to drive performance!

Your masterclass leader is:

Patricia Wheatley Burt (FCIPD) has been providing business consultancy services for 20+ years operating throughout the UK and increasingly globally and will be facilitating the day. With clients ranging from regional practices with multiple offices to the Top 100 law firms Patricia and her team of Consultants and Trainers at Trafalgar provide pragmatic advice, support and solutions to Executive Teams and individuals to help improve the profitability of their firms, delivered cost effectively


Supported by:

Julian Dawson, MD, Durler Consulting

Julian‘s background is through the army as a graduate of the Royal Military Academy, Sandhurst and running businesses in the Far East. Julian specialises in providing a holistic recruitment and development solution partnering line managers seeking change-orientated leaders. He has contributed to press articles for many years, including with Personnel Today on attracting senior women back into the workplace after maternity leave.

Rowan Williams, Partner, Baker Tilly

Rowan is a partner with accountancy firm Baker Tilly. She has extensive experience of working with firms in the professional practices sector, advising on both strategic and compliance matters. She also works with corporate clients across a range of sectors and uses this experience to bring different ideas and fresh thinking from the corporate world to her professional practice clients.
This one-day masterclass is designed to help you:

• Consider the options you have as an employer, testing your appetite for radical choices in both the short and longer term
• Appreciate how your fellow partners and staff are feeling, their anxieties and effects on sustainable and repeatable delivery of legal services
• Understand what you need to do to take advantage of your partners’ and staff’s loyalty and willingness to change: what will and will not work, across the range of ages and motivations?
• Re-organisation strategies, options and implications on careers, succession plans and talent retention
• Work through business improvement action plans to provide value creation
• Explore ways to make sound and immediate links between pay and performance, using KPIs, competency frameworks, all designed to align with the firm’s priorities

Who should attend
• Managing Partners
• Senior Partners
• CEOs
• COOs
• Heads of Human Resources
• Heads of Leadership Development
• Heads of Training
• Heads of Organisational Development
• Heads of Performance Management

Venue