DLA Piper implements dramatic remuneration changes
DLA Piper has dramatically altered its remuneration structure, introducing a system of points earned through performance with the intention of driving profitability.
One key characteristic being touted of the new system is that partners will not progress or regress along the new payment band too quickly. Partners can move through the payment bands according to their performance throughout the year, albeit slowly. The firm is intent on moving focus from metrics such as revenue or billing numbers to actual profits.
The firm also has a new lockstep system in place for partner who have been newly promoted. New partners operate in the lockstep for three years, moving up one band each year.
DLA's partnership had to approve the changes by vote. Bylaws required 75 percent of the partners to vote in favor for the changes. The threshold was handily met with 94 percent voting their approval.