Eversheds Unveils 'Holistic' Bonus Scheme

Law360, New York (March 4, 2010, 12:27 PM EST) -- U.K. law firm Eversheds LLP announced Thursday that it will launch a new “holistic” performance-based bonus system, joining a growing number of firms that have abandoned more traditional fee-based bonuses.

The new system is designed to recognize both fee-earning and nonfee-earning work, the firm said Thursday. It sets bonus pools for each practice group, while giving senior managers authority to allocate additional bonuses to exceptional lawyers.

The new plan would also give managers the ability to reward excellence in areas not recognized under a fee-based bonus...
To view the full article, register now.