They spoke with Jeff Drew about GRF’s partner compensation, including why the firm decided to change its comp model, behaviors the new compensation model incentivized, and advice for other firms considering a new approach to partner compensation.
Topics addressed in the podcast include:
- The limitations of formulaic, “eat-what-you-kill” compensation models;
- Other goals that can be added to the model other than financial metrics;
- The advantages to bringing in a third party to help with the process;
- What behaviors the new compensation model incentivized;
- How a compensation committee works; and
- What firms should know before they start on this path.