Who wants to split profits? Nobody, and that’s why law firms spend a lot of time and energy determining how to split profits amongst partners. Making plans for partner remuneration can divert precious energy and resources away from focusing on effective partner performance and, ultimately, growing the pie. It can be difficult to break the cycle but overhauling the system can lead to an improvement in overall profit.

ALB has put together an e-learning session which outlines one firm’s experience in changing its partner performance management and remuneration system, which lead to a 50% improvement in profit in just three years. To learn more about how this firm transformed its bottom line, click here.

Lawyers admitted to practise in Australia can earn one CLE point.