New Olswang appraisal scheme to poll clients and staff
Olswang has overhauled its partner appraisal system in a move which will see partners assessed by clients and business creation teams. The City firm approved the changes in a vote last month, with the new system set to come into effect from the end of the year.
December 07, 2010 at 01:56 AM
2 minute read
Olswang partners set to be evaluated against practice group targets after appraisal system launch
Olswang has overhauled its partner appraisal system in a move which will see partners assessed by clients and business creation teams.
The City firm approved the changes in a vote last month, with the new system set to come into effect from the end of the year.
Formal feedback from clients, business development, IT and accounts staff will now be used as part of the partner appraisal process, with client relationship management and development also to be monitored in a more structured way.
Business account managers with responsibility for handling client relationships will provide feedback on how partners deal with clients, which will feed directly into the appraisal process.
Partner activity levels will also be monitored against a set of practice group and individual partner targets set at the beginning of the financial year by practice group heads. The first practice group strategies and targets were developed at the beginning of the 2010-11 financial year.
Olswang chief executive David Stewart (pictured) said: "We have introduced a more rounded appraisal process which gives better comprehension of partners' contributions across the board. We are making sure client relationship management is at the forefront of everyone's mind."
The news follows the changes Olswang made earlier this year (1 September) to associate pay which saw it move from a post-qualification experience model in favour of a merit-driven structure.
Associates will be given biannual appraisals and will be expected to meet defined criteria before they can rise to the next level.
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