Few lawyer managers would claim that setting compensation for partners and associates during this recession is a simple task.
In the most simplistic terms, the easy answer for lawyer managers would be to increase the compensation of the most productive lawyers and decrease it for the least productive, based upon the firm’s definition of the term “productive.” However, before making long-term compensation decisions simply to improve short-term economics, a more thoughtful and prudent approach for dealing with this issue would be for lawyer managers to take a holistic view toward compensating partners that includes: assessing the firm’s current culture and components of the partner compensation system; focusing on what is important to the firm at the present time and going forward; and determining whether the current partner compensation system reinforces the current or desired culture and motivates partners to perform those billable and nonbillable activities that are deemed to be important to progress the firm.
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