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A spent force

Promotion to partnership no longer brings the perks and rewards it once did, so what do we do with an unmotivated band of staff?

11 May 2016

Many years ago, a promotion to partnership was a defining moment in someone's life. Gone were the days of late night work and sleepless nights. Now you could enjoy long lunches with clients, schmoozing prospects and international conferences in Geneva. However as any partner will tell you, that is no longer the case. Being promoted to partnership is now merely an opportunity to work longer hours under more pressure with no job security, and to spend your weekends remotely logged onto the offices computer system.

Unsurprisingly, after a while some partners grow weary of the stress and begin to lose motivation. We have all seen it. The partner in his late fifties who is going nowhere, keeps his portfolio ticking over and manages to leave the office by 5:30 every evening. He knows he is not going to get promoted further within the partnership and has one eye on early retirement, while the other is on the latest score ...

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