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How to Tie Partner Compensation to Business Development in Law Firms
About This On-Demand Webinar:
The legal industry has undergone massive disruption due to economic conditions, increased competition, changing client attitudes, and technological advances. As a result, U.S. law firms are rethinking how lawyers should be evaluated and compensated.
In the past, some have categorized partners who are “finders” – those who find the work; “minders” – those who mind the work; “binders” – those who manage the work and clients; and “grinders” – those who simply churn out legal work. Firms can no longer sustain all of these categories and need lawyers to be accountable for driving revenue.
A well-designed lawyer compensation plan - one that ties compensation to business origination and revenue goals – is a key tool in a law firm's success tool box. Managing partners should have a system for compensating lawyers who support the firm's immediate and long-term revenue objectives.
In this one hour on-demand webinar our presenters explore the interrelationship between marketing, business origination, revenue focused activities and compensation systems in law firms.
The presentation addresses the following:
- How to align lawyer compensation with firm efficiency and business development goals
- How to motivate attorneys to perform these revenue targeted activities
- Where current compensation systems fall short
- Challenges managing partners face when trying to implement a revenue focused culture at the firm
- How to proactively deal with the issue of non-performers
- How to develop and foster rainmakers
- And much more...
Speakers:
Jerry Cohen
Founder/ Managing Partner
Cohen Tauber Spievack & Wagner P.C.
A founding partner of CTSW and managing partner of the firm, Jerry Cohen has been engaged in business and commercial law for over thirty years.
Bill Sansone
Partner
Withum
Bill is a Partner at Withum and the Practice Leader of the Law Firms group. With nearly 40 years of experience in public and private accounting and specialized expertise in law firm practice management, Bill focuses his practice on turning financial data into bottom-line growth for his clients. He is a licensed CPA with a BA degree in Accounting from Pace University.
Jake Weichholz
Principal
Withum
Jake is a Principal at Withum, a national advisory, tax and accounting firm. He is a retired partner from EY where he co-lead EY's Law Firm Services group. Jake has been advising law firms for over 40 years and has endured numerous changes and upheavals in the profession. He is a CPA and has an MBA.
Uri Gutfreund
Founder
The Managing Partner RoundTable™
Uri is also the Founder and Moderator of the New York Peer-to-Peer Managing Partner Forum, a regional learning organization. This unique program is open to Managing Partners who feel the same passion to improve their firms by learning from each other in a non-competitive environment.
Guy Alvarez
Founder & CEO
Good2bSocial
Starting out as a lawyer, and over his 25-year career, Guy’s deep expertise spanning law, technology, and marketing, has enabled him to emerge as a leading voice in the application of digital and social technologies for business.
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About Good2bSocial
Good2bSocial works with law firms, legal marketers, companies and associations in the legal industry to help them understand and leverage the power of digital marketing. By combining our unmatched industry experience with the latest technology we are able to deliver and execute measurable marketing and business development strategies. Good2bSocial offers a full suite of digital marketing services including high-impact content marketing, PPC, SEO, paid social, email marketing, marketing automation, website/microsite development, social media management and training.
