Partner compensation and
partner performance measurement
The way in which profit is distributed and the Key Performance Indicators for partners, will drive behavior. TGO Consulting will help define effective KPI's for partners and associates that will incentify behavior that will make the firm as a whole more profitable and will help create strong and deep client relationships.
TGO Consulting has extensive experience in partner compensation models and we have developed balanced systems of performance monitoring that help stimulate behavior that is in the best interest of both the firm and the individual partner. We also have a wealth of best practices when it comes to partners reaching the ‘retirement’ age and on how to reduce the risks connected to lateral hires.
In every partnership here is a natural tension between successful high earning performers and those who are trailing behind. The profit distribution systems are found to amplify or moderate these dynamics. With few exceptions, distributions and compensation systems are paired with some form of measuring of the performance of individual partners. Law firms often do not realize the influence these parameters have on the behavior of partners and on the performance of the firm as a whole.