Partner compensation is central to any professional partnership

New handbook provides fully updated guidance for those involved in managing partner contribution and compensation
By: Globe Law and Business Ltd
 
LONDON - Aug. 31, 2022 - PRLog -- The Partner Remuneration Handbook: A Guide to Compensation in Law and Other Professional Service Firms addresses this important topic in depth.

Partner compensation and how partners share profits is central to the cohesive fabric of any professional partnership. While one adage says that "there are as many profit-sharing systems as there are partnerships", there has recently been the emergence of a global practice about what "merit" means and how risk and reward are shared among partners in professional service firms.

In this book, Michael Roch (CEO of MHPR) and Ray D'Cruz (CEO of Performance Leader) provide guidance for senior partners, managing partners, partnership boards, remuneration committees and others (department heads, CFOs, HRDs) involved in designing effective profit-sharing systems, motivating and managing partner contribution and reaching fair reward decisions.

Filled with practical insights, this book draws on principles of partnership, motivation and incentives in human capital management, and executive compensation in closely held businesses. Looking beyond the numbers, the authors balance the big picture with a detailed how-to for any professional partnership irrespective of geography, size and maturity.

This title encompasses three core elements:
  • Exploring the different partner reward systems found in most professional firms.
  • Showing how partnerships define and discuss partner contribution commitments that further the firm's overall strategic, operational and financial objectives.
  • Providing decision-making guidance about marrying reward to performance and on Remuneration Committee governance.
It also addresses a myriad of special topics, such as rewarding partners in management roles, and provides a proven approach for how firm leaders can take partners with them on the journey of evolving their partner compensation system.

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Publication information:

Author(s):
Michael Roch, Ray D'Cruz

Publication date: Aug 2022

Format: Hardback

Pages: 383

Price: £225.00

ISBN: 9781787428485

For more information about this book

https://www.globelawandbusiness.com/books/the-partner-remuneration-handbook-a-guide-to-compensation-in-law-and-other-professional-service-firms

ENDS

NOTES TO EDITOR


To obtain a review copy of The Partner Remuneration Handbook: A Guide to Compensation in Law and Other Professional Service Firms, please contact Sian O'Neill.

About Globe Law and Business
Globe Law and Business was established in 2005, and from the very beginning, we set out to create law books which are sufficiently high level to be of real use to the experienced professional, yet still accessible and easy to navigate. Most of our authors are drawn from Magic Circle and other top commercial firms, both in the UK and internationally.

Contact
Sian O'Neill
Managing Director
***@globelawandbusiness.com
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