HSF set to overhaul partner pay in post-merger shake-up
Herbert Smith Freehills is set to introduce a merit-based element to partner pay as part of its post-merger restructuring, in a clear departure from legacy Herbert Smith's rigid eight-year lockstep. The system 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, bringing the firm closer to merger partner Freehills' system, which is more heavily linked to individual performance. The new 'balanced scorecard' system has been given the go-ahead by management and comes as proposals on the wider remuneration structure are due to be put to partners.
New system with performance-based element gets green light
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