Allen & Overy will introduce a new part-time working scheme in an effort to boost the number of female partners at the firm.
The scheme allows equity partners to work a minimum of four days a week or be entitled to an extra 52 days of annual leave. When rolled out in May this year, partners will be able to take advantage of the scheme for up to eight years while retaining their equity status; they will be remunerated on a pro-rata basis, capped at 30 points (see table).
Although open to both male and female partners worldwide, the firm’s aim is to encourage more of its female lawyers to remain on the partnership track, said senior partner David Morley. “It's no longer realistic to provide just one option and say 'take it or leave it',” he said. “If you are going to make any real change you have to address the options available to people at all stages of their career – from associate through to equity partner – to help balance their professional and personal aspirations.
“We don't pretend this is a cure-all but it's a serious attempt to take positive steps and to send a strong signal of our intent to retain talent in our business,” he said.
While female lawyers in the firm’s US or EU offices might welcome the scheme, the cultural differences in Asia might make it less popular here. “I think this is a terrific step in the right direction [but] the glass ceiling is stronger here in Asia,” said Robert Sawhney, managing director of Hong Kong-based consultancy SRC Associates. “Particularly in local firms, women would have to outshine a man to get the promotion nod and that would be very hard on a part-time basis, especially given the fact that few local firms in Asia would have diversity policies.”
Those significant cultural differences are also factors driving Asia’s female lawyers to break the glass ceiling. “In places such as Hong Kong and Singapore, where domestic help is a natural part of life, I would imagine it is easier for female lawyers to stay on [the partnership] track,” he said. “Additionally, with expectations in Asian workplaces many females would feel obliged to stay on the normal track. The attitudes of women lawyers wanting to make partner would prevent many from taking the alternative route [part-time] believing if they did, it would seriously hurt their chances.”
A female former lawyer, who did not wish to be named, agreed. “Despite firm policies about flexible working hours and maternity leave, the reality is that taking time out to have a baby and then working part-time will set you back in your career. You can't have it all – you have to decide what to sacrifice,” she said.
Part-time equity partners at A&O: key facts |
Source: Allen & Overy |