As law firms in Australia continue to compete in a tight market for legal talent, independent Australian law firm Johnson Winter & Slattery is introducing an employee share plan so associates will feel they own part of the business.

Johnson Winter is one of only a few law firms in the country to offer its lawyers an employee share plan—a vehicle used mostly by listed companies and some private companies, that is said to increase employee retention and is believed to increase productivity and performance because employees who are also shareholders feel they are directly responsible for the value of their company.