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Stakes and ladders: Moving from lockstep to merit-based partner remuneration

Managing partner Linda Woolley shares Kingsley Napley’s experiences in moving from a lockstep to a merit-based partner remuneration system

19 January 2012

 

Key  takeaway points:
  1. Why we decided to change the firm’s remuneration system for equity partners from lockstep to merit based.

  2. How we brought about that change (while keeping the confidence of the partners).

  3. An outline of three remuneration methods: pure lockstep, modified lockstep, combined lockstep/merit and how we progressed through each.

  4. How far our objectives in making those changes have been achieved.

  5. The contribution of honest appraisals to fair remuneration decisions.

 

This article explores how Kingsley Napley has progressed, in a six-year period, from remunerating its full equity partners thr...

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