Ashurst has rolled out a new flexible working scheme for equity partners intended to make it easier to work part-time without hindering progression through the lockstep.

The City law firm has introduced a new policy that will allow equity partners to remain at the same point in the firm's lockstep while being remunerated on a pro rata basis.

The arrangement replaces the firm's previous policy, which saw those seeking to work part-time moved down the lockstep to accommodate their reduced working week.

It is one of a number of flexible working options devised by a committee, led by senior partner Charlie Geffen (pictured) and global head of corporate Stephen Lloyd, that was formed at the start of 2011. Other possibilities include giving partners the option of leaving the equity while 
they work part-time.

As part of the scheme, Ashurst is also piloting a remote working project with partners and employees and improving IT systems. The new flexible working options will be open to all partners, but one of the motivating factors has been a desire to retain more female staff in the partnership.

Geffen commented: "What matters is output and it is not necessarily the case that the output of someone working flexibly is any different from someone who is not. Clearly those who choose to have a more structured part-time arrangement will be compensated on the basis of what they achieve and their availability to support colleagues and clients."

Allen & Overy introduced a flexible working scheme allowing partners to remain in the equity while working part-time last year. It allows partners to work either a minimum four-day week or increase their holiday entitlement in return for remuneration on a pro rata basis of at least 80% of standard profit share capped at 30 equity points.

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