how to reward partners.
by august j. aquila
what makes a great partnership
during the last 13 years i have focused a large part of my practice on helping firms develop compensation plans. a critical element in keeping partners engaged is having a compensation system that rewards them for doing the right things. here’s what i found to be some of the best practices.
more: rate managing partners in six areas | eight ways managing partners make a real difference | five reasons that leaders fail | eleven things partners must do | seven keys to becoming an equity partner | how to achieve partner unity | the seven building blocks of a great partnership
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- every compensation plan should be constructed to help the firm enhance its ability to service clients, achieve its strategic goals and attract, reward and retain the right people. if a firm’s plan does not accomplish these objectives, it needs to be restructured.
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