Market Areas > Practice Management > Partner Compensation

Align or Decline: Making Partner Compensation Reflect Law Firm Objectives

Course Description:

When it comes to partner compensation and rewards, the status quo has to go.  In fact, changing client needs and competitive markets mean that law firms must take a close look at how partner performance (and subsequent) compensation link with strategic goals and financial objectives.

Yet, despite the clear need for revision, it’s still unusual for a firm to make the connection between strategic pay for partners and firm goals. 

CoursE highlights:

This comprehensive audio conference will look at new ways of approaching partner pay, with the larger firm picture in mind.  During this event, our expert faculty will discuss ways that you can create a compensation and rewards system that supports firm strategy, including:

• How often to review strategies and what new compensation components should be considered for 2011 and beyond
• Why it makes sense to reward those who create value and how to get started
• Ways that a compensation system can encourage lawyers to work at efforts which help the firm stand out from the crowd.
• Why consistency counts and how documentation helps
• Ways to make communication of strategic direction and client focus a firm-wide (rather than individual) initiative
• Core values and how they should be reflected in your compensation system
• How to create a compensation system that reflects current goals, rather than a ghostly celebration of the past

Featured Faculty:

J. Mark Santiago, Member, KermaPartners

Mark is a member of KermaPartners and leads the United States practice. He is located in the New York City office.
Mark has consulted to the legal profession for more than 25 years. He led successful project teams in the areas of outsourcing, mergers & merger due diligence, strategy development, firm restructuring, financial management, partner compensation, shared service center feasibility studies and merger integration planning and implementation engagements.

Mark led teams that developed the Business Case rational to out-source the administrative functions for the two largest law firm outsourcing projects in the United States. He conducted due diligence studies for some of the largest law firm mergers in the United States. Identified significant issues for the acquiring firm to consider in the merger value proposition.

He also led the restructuring of mid-sized law firm that identified non-strategic practices and attorneys, outsourced administrative functions and focused firm on core competencies. PPEP increased by 35 percent in one year. Mark managed the design and implementation of pay for performance Partner compensation systems featuring 360 degree performance feedback and linking partner compensation to firm strategy.

Gary B. Fiebert, Executive Director, Schulte Roth Zabel LLP

Gary B. Fiebert is an executive leader with over 20 years of experience in strategic business planning, finance, firm management, organizational change, human resources and marketing.  In addition to his current position as Executive Director at Schulte Roth Zabel LLP, Mr. Fiebert has held senior management positions at a number of law firms, including KMZ Rosenman, Rosenman & Colin LLP and Mudge Rose Guthrie Alexander & Ferdon, as well as at national management consulting firms, including Gilbert Tweed Associates, Gafrey Associates and Touche Ross & Company (the predecessor firm to Deloitte Touche Tohmatsu).

Mr. Fiebert holds a Bachelor of Engineering degree in Industrial Engineering from New York University and a Masters of Science in Management Engineering from Long Island University.  He was certified as a Management Consultant, the Law Practice Management Section of the NYS Bar Association, the LFA Caucus of the Association of Legal Administrators and a member of the New York City Executive Directors' Group.

Mr. Fiebert is a regular speaker at industry conferences and seminars, focusing on the development and implementation of innovative solutions to achieve long- and short-term strategic objectives.

MONEY-BACK GUARANTEE:

Pricing:

Your CD recording includes the complete audio conference presentation, audience Q&A and presentation materials.

Each CCM event presents a variety of information and is presented for each organization to develop its own approach and methodology.