In this article for Law 360, Catriona Watt writes about the challenges of devising remuneration and reward systems that attract and retain lawyers, particularly in the face of the salary wars resulting from the increasing influx of U.S. firms to the U.K. market.
Over the last five years, she writes, we have seen law firms start to move away from the pure lockstep model of partner remuneration toward a so-called modified lockstep model, or even a purely meritocratic system. However, whatever the model, one of the key considerations is how to build a culture of trust and fairness.
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