Sentences with phrase «lockstep compensation»

The firm traded a lockstep compensation structure for a competency - based system several years ago.

The traditional salary model for law firm associates is lockstep compensation, in which associate salaries go up by a fixed amount each year from the associate's law school graduation.

But a willingness to approach compensation as an institution (lockstep compensation) makes for firm longevity.

The topic of lockstep compensation somehow manages to be simultaneously divisive, critically important, and — for those not writing the cheques or cashing them — numbingly boring.

Our lockstep compensation structure ensures seamless collaboration worldwide between different teams, offices and practices.

UK - based firm Linklaters, which last year lowered associate pay raises, announced it is returning to full lockstep compensation for its associates...

We're a traditional lockstep compensation firm, because that engenders a high level of cooperation between and amongst partners, and that means partners treat other partners with greatest level of respect.

In 2008, Rhee — a Klein protégée, who founded the New Teacher Project after teaching in Baltimore for Teach for America — proposed huge salary increases for those teachers who would give up lifetime tenure guarantees and lockstep compensation and agree to have their performance linked to student test - score improvements.

Not exact matches

Instead they are subjected to «lockstep seniority - based compensation.»

Twenty - two per cent said their compensation method involves equal partnership, five per cent said lockstep, and 34 per cent said they use a different approach entirely.

The survey shows merit is still the most common compensation method for equity partners, at 44 per cent; 17 per cent said they use equal partnership; four per cent said lockstep; and 35 per cent use a different method altogether.

MacEwen does not discuss whether either lockstep or EWYK would help improve partner / associate relations, but maybe that's a factor that firms should consider when they examine these different compensation schemes.

So far, some lockstep firms have kept their compensation systems intact, but they have seen some big producers walk out the door.

The new programme changed the previous performance - emphasised compensation system into a modified lockstep, which encourages partner collaboration and centralises firm resources.

CMS Cameron McKenna has boomeranged from an eat - what - you - kill compensation plan back to its lockstep roots, writes Bruce MacEwen.

«When a firm with the clear American tilt towards eat - what - you - kill compensation goes up against a firm with the U.K.'s tilt towards lockstep, it turns out that incentives do matter and the U.S. partners battle longer and harder to win the business.

«eating» without «killing» each other: a performance - driven lockstep model for lawyer compensation in law firms

The firm abandoned its lockstep partner compensation scheme, which rewarded lawyers based on their seniority, in the 1990s, and recruited a clutch of star performers, including some with high - paid special deals outside the equity partnership.

By contrast, it is difficult to achieve maximum benefit from personal work plans in firms that have lockstep or other seniority - based compensation systems.

Like many other firms, it will soon be changing from lockstep to a competency - based advancement and compensation structure.

The two firms currently operate pure locksteps, the traditional compensation system employed by U.K. law firms under which an equity partner's profit share automatically rises each year based on seniority, rather than on merit.

This brings us back to a point we've raised numerous times in the past, which is that with major law firms always moving in «lockstep» in terms of compensation, firms need to find creative ways to distinguish themselves from competitors in areas other than compensation when recruiting attorneys.

We also discuss the movement away from lockstep promotion and compensation to an individualized merit - based system by examining one firm that has done it and another about to make the switch.

Since most law firms march «lockstep» in terms of compensation, this leaves areas such as work life balance programs (e.g., flextime arrangements, telecommuting, sabbaticals, etc.) as an area where firms can stand out from the pack.

Ms. Saeed conceded that the lockstep - compensation system removes a powerful lever of management control.