When we think about the forces reshaping the legal industry, we focus primarily on forces such as the impact of changing client demand trends and innovation in legal service delivery.
Compensation takes on an outsized meaning in law firms, in part because it is often the only meaningful feedback that equity partners receive from the firm about their performance and status in the firm.
Much has been written in recent weeks on the gender pay gap in law firm partnerships.
All firms have underperforming practice groups from time to time.
While most law firms have emphasized teamwork as a core value for many years, we see a renewed interest from firms in prioritizing collaboration.