Join us at the roundtable to discuss partner compensation
Author: Michael Roch,Lead author, The Partner Remuneration Handbook (2022)
Following the publication of the 2020 Equity Partner Contribution & Compensation survey results, MHPR Advisors in partnership with Performance Leader is pleased to deliver a three-part series of online roundtable events
Metrics & KPIs in Partner Contribution & Compensation
Wednesday 26 August 20
9AM - 10:30AM UTC +1
6PM - 7:30PM AEST
Note: this roundtable is for a maximum of 18 participants.
Overview
Most firms use metrics and KPIs to measure partner performance, yet 75% of the most commonly used metrics relate to production. If there’s truth to the saying what gets measured gets done, firms need a new approach to metrics. Could a new approach align to a firm’s emerging strategic challenges in areas such as digitisation, innovation, collaboration, the client experience and pricing? Join our discussion-based roundtable as we consider these issues and share insights.
This roundtable considers:
- The rise of metrics and KPIs in professional firms (and some of the pitfalls);
- Why, when and how to use metrics and KPIs;
- The pros and cons of common financial and non-financial metrics and KPIs;
- Metrics and KPIs for the new strategic challenges facing firms; and
- Finding the right measures and KPIs for your firm (and using them well
Hosts
Michael Roch
Michael Roch is Managing Director of MHPR Advisors and Head of Consulting for Performance Leader. For over 20 years Michael has advised global professional partnerships, international PSF networks and founder-led firms on partner remuneration, profit sharing, funding, governance, succession, business model design and other strategic issues. Having earned his spurs in Big 4 accounting (USA) and Big Law (UK), as an entrepreneur Michael has co-founded and led a global strategy boutique and served as Co-CEO Europe of a 4,000-member consulting platform. Michael is author of Partner Remuneration in Law Firms (Globe Publishing).
Ray D'Cruz
Ray D’Cruz is the CEO of Performance Leader. Ray advises clients on partner and employee contribution frameworks, contribution management practices and the design and implementation of technology. He has worked with over 100 PSFs internationally. Ray is a former lawyer and senior HR practitioner. He is co-authoring the second edition of Partner Remuneration in Law Firms (Globe Publishing) with Michael Roch.
Remunerating Partners in Firm Leadership Roles
Wednesday 23 September 20
9AM - 10:30AM UTC +1
6PM - 7:30PM AEST
Note: This roundtable is for a maximum of 18 participants.
Overview
How is firm leadership valued in partner compensation?
Our 2020 Equity Partner Contribution and Compensation study found that only 32% of the partner reward systems of our global respondents explicitly accommodate the achievement of partners in management roles. This raises three questions, which our roundtable considers:
- What should firms expect from all their partners when it comes to leadership and management?
- Most firms have a few partners who take on specific senior leadership roles. How should these firm leaders be rewarded?
- How can firms ensure that firm leader reward is fair to them and supported by the broader partnership?
- What factors should be considered in firm leader performance assessment and remuneration?
Hosts
Michael Roch
Michael Roch is Managing Director of MHPR Advisors and Head of Consulting for Performance Leader. For over 20 years Michael has advised global professional partnerships, international PSF networks and founder-led firms on partner remuneration, profit sharing, funding, governance, succession, business model design and other strategic issues. Having earned his spurs in Big 4 accounting (USA) and Big Law (UK), as an entrepreneur Michael has co-founded and led a global strategy boutique and served as Co-CEO Europe of a 4,000-member consulting platform. Michael is author of Partner Remuneration in Law Firms (Globe Publishing).
Joel Barolsky
Joel Barolsky is Managing Director of Barolsky Advisors and a Senior Fellow of the University of Melbourne. He is a monthly op-ed contributor to the Australian Financial Review Legal Affairs section and creator of the Price High or Low iOS pricing app. Joel has provided strategy advice to over 100 of Australia and Asia’s leading professional service organisations. Around 70% of his clients are repeat clients or come directly from referrals from existing clients. For the past 30 years, he has helped law, accounting and other business advisory firms plan, innovate and grow. He is a recognised thought leader evidenced by regular conference keynotes, press mentions and the global reach of his blog, Relationship Capital.
Managing Poor Performance & Underperformance
Wednesday 28 October 20
8AM - 9:30AM UTC
7PM - 8:30PM AEST
Note: This roundtable is for a maximum of 18 participants.
Overview
Can your firm continue to tolerate poor performance?
Almost without exception, all firms we speak to admit to having issues with poor performing and underproductive partners and staff, but are realising – particularly in the light of the 2020 pandemic – that they cannot afford to carry passengers any longer. It is often said that “there is a difference between rigorous and ruthless”. Could a more rigorous approach to tackling these issues help firms to weather difficult times?
This roundtable considers:
- How to define and measure underperformance
- Constructing a framework and process for remedial action
- How to treat strugglers and stragglers sensitively but firmly
- Why lateral hires often fail and how to address the issue
- Recovery plans for those needing “intensive care”
- Lost causes and intractable problems
Hosts
Ray D'Cruz
Ray D’Cruz is the CEO of Performance Leader. Ray advises clients on partner and employee contribution frameworks, contribution management practices and the design and implementation of technology. He has worked with over 100 PSFs internationally. Ray is a former lawyer and senior HR practitioner. He is co-authoring the second edition of Partner Remuneration in Law Firms (Globe Publishing) with Michael Roch.
Nick Jarrett-Kerr
Nick is a member of Edge International, a leading global consultancy to professional service firms. Over the last two decades, he has established himself as one of the leading UK and international advisers to law firms. Over this period, he has consulted to firms in more than twenty-five countries on four different continents on issues relating to strategy, governance, mergers, equity/ownership structures, partner performance, succession issues, profit sharing and other business-critical matters. Nick is the author of the recent best-selling Special Report Tackling Partner Underperformance in Law Firms no win its 2019 second edition (Ark Group).
