Herbert Smith Freehills partners have approved details of its new partner remuneration system, introducing a managed lockstep with a strong merit-based element.
The new system, which will come into effect at the start of the 2014-15 financial year will see the introduction of a “balanced scorecard” by which the firm will assess partners’ performance. The scorecard will take into account a number of factors including financial performance and business development, engagement with staff, client servicing and contribution to the success of others.
