Shoosmiths rewards high-performing lawyers

Following a firm-wide consultation process over the past year, Shoosmiths legal advisers will now have the opportunity to increase their overall compensation with an individual performance bonus. This will be based on chargeable hours recorded beyond expectation and a minimum number of responsible business hours, including pro bono or volunteer work. The new scheme aims to recognise, celebrate and reward significant contributions to client service and the firm's financial success, with implementation set for 1 April 2025.

CEO David Jackson (pictured) said: “Shoosmiths’ culture remains at the forefront of any enhancements to our people offering and this bonus scheme has been calibrated to reward colleagues who go above and beyond, whilst also discouraging over-working to the point of burnout. In line with our firm’s values, the bonus rewards the exceptional efforts of our talented lawyers and signals the importance of including pro bono and volunteer work in our business practices. This is an exciting development that supports our ambition to retain and attract outstanding talent, powering us to be a leading upper mid-market law firm by 2030.”

The current 1350 chargeable hours expectation remains unchanged, with the bonus applying to legal advisers who exceed 110% of this target. For example, a legal adviser recording 1485 chargeable hours can earn a bonus ranging from 2% to 9% of salary, depending on the firm's overall performance, with an ‘on-budget’ firm performance resulting in a 5% total bonus award. The maximum potential bonus reaches 19% of salary based on a combination of individual and firm performance.

To qualify, legal advisers must complete a minimum of six hours of responsible business activity, supporting Shoosmiths’ responsible business priorities. A capacity management tool will be used to ensure fair work allocation, with legal advisers encouraged to flag availability. A comprehensive training programme for managers will accompany the implementation, covering fair work allocation practices, unconscious bias training and effective use of the capacity management tool.

The new performance bonus will operate alongside Shoosmiths’ existing firm-wide collegiate bonus scheme, which pays all eligible employees up to 7% of salary based on year-end performance, with a 3% pay-out for a typical ‘on-budget’ performance.