Partner retirement policies withstand latest challenge but pressure remains for law firms to cross the tees

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Expectations that law firms would come under mounting pressure to avoid compulsory retirement of partners have been once again upset as the final chapter in a much-watched legal battle over age discrimination concluded this week.

The Employment Tribunal (ET) made a final rejection of a claim by solicitor Leslie Seldon against his former law firm Clarkson Wright & Jakes (CWJ) that he suffered age discrimination in being required to retire at the age of 65. Continue reading “Partner retirement policies withstand latest challenge but pressure remains for law firms to cross the tees”

Few are chosen – is partnership still worth the contest?

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Partnership prospects continue to decline in a gloomy economy, while UK law firms are increasingly promoting abroad or associates hired from other firms. Legal Business investigates whether the odds of making partner make it still worth the contest

When a trainee joins a firm, aspirations are high and the road to success is inviting. The route is mapped out from the start – train at the firm, become an associate, rise up the ranks to the ultimate goal – partnership. Sounds perfect.

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Addressing partner underperformance

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James Tsolakis of The Royal Bank of Scotland published his annual report, A perspective on the legal market, in March. In it, he says UK firms have 5% overcapacity in fee-earner resources and has told LB that firms need to address this issue at partner level. The report also says that the success of new partner compensation models that align compensation with performance depends on ‘effective partner appraisal systems’.

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