Partner Performance: Reward Partner Performance and Contribution

Even though some may want to focus on “fixing” partner compensation first, the last element of developing partner performance and accountability is rewarding performance. A properly designed and well-thought-out partner compensation system can drive desired behaviors and inspire your partner group to achieve high performance. Likewise, a poorly designed system will drive unwanted behaviors and discourage a one firm culture. In this session, we’ll explore an approach to compensation that rewards those who contribute to a unified strategy, including:

  • The role of trust in any compensation plan and balancing the inherent self-interest of each partner with what’s right and fair for the group
  • The potential cause-effect relationship between compensation and your firm’s buy/sell and governance models
  • Transparency in determining partner compensation and the pros and cons of open and closed compensation systems
  • The mechanics for structuring a fair, rewarding and understandable compensation plan

Apply these concepts to transform your partner compensation system so it rewards partners for both individual and overall firm success!

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