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“Current Trends in Partner Compensation Plans”
People generally do what is measured and rewarded. As a result, it is difficult to change behavior unless you can affect compensation. Firm leaders need to ensure incentives are aligned with current firm goals and objectives.
The principals of LPC have chaired law firm compensation committees and understand the challenges of establishing systems that are predictable, and provide both fundamental and relative fairness. Their experience is that most compensation systems require periodic modifications rather than wholesale changes.