Beyond the numbers: A fair system for evaluating partners
Abstract: While partners share some basic roles and responsibilities as attorneys and owners, each is likely to bring something a little different to the table. How, then, can a firm ensure that performance reviews — and compensation decisions — are fair? This article discusses some of the standard measurements involved, and explains that an evaluation process needs to consider the many roles partners play in the firm, along with four factors that determine a firm’s profitability. A sidebar talks about evaluating and compensating unique practice partners.