Performance & Compensation
The success of a firm is founded on the sum of the performances of its people. Fundamental attributes of successful practices are attracting and retaining partners and professionals, providing clear definitions of what is expected of them, developing their experience and skills over time, and combining them into highly competitive and profitable practices that provide the strength and service expected by clients.
We work with our clients to devise and implement efficient processes to improve financial and professional performance. We understand the need for strong, fair, practical solutions that deliver sustainable benefits for the firm. Many otherwise highly successful practices fail to achieve the levels of profitability and performance that their professional skills and capabilities deserve. Through careful, objective analysis, Fairfax assists firms in identifying and realizing these benefits.
Our work across different jurisdictions and professions provides us with a unique perspective on the most effective methods of raising performance, improving profitability, and rewarding partners and staff.
Our performance and compensation work includes the following areas:
Partner Performance & Compensation
Clarity of roles and performance expectations and a well-constructed path of professional development are prerequisites for a successful partnership and practice.
Firm Performance & Profitability Improvement
Improving performance and profitability requires an understanding of a firm’s strategy, finances, and operations, as well as detailed knowledge of the client’s needs…
The way in which professional services are priced is changing rapidly. These developments reflect changes in client perceptions of value, client price sensitivity, and client pressure for firms to adopt new business models and pricing…
The traditional pyramid structure that was common in many professional firms is no longer necessarily the most effective and competitive choice. The need to improve business or legal processes is driven by clients’ need for consistent quality…