New Podcast: "Disrupting Outdated Compensation Models"
/I had the pleasure of joining Elise Holtzman, host of The Lawyer’s Edge podcast, to discuss law firm partner compensation.
We covered a lot of ground. Here’s an excerpt from the Lawyer’s Edge episode guide:
In this episode of The Lawyer’s Edge Podcast, Elise Holtzman is joined by Tim Corcoran, Principal at Corcoran Consulting Group, to talk about the best ways your firm can update its compensation model. Tim discusses the outdated compensation methods — and why it’s important to evolve with the market, changes that impact how law firms should compensate, and where to begin when looking to update your model.
HERE’S A GLIMPSE OF WHAT YOU’LL LEARN:
How does the typical law firm currently structure compensation for partners?
Tim Corcoran discusses the move to abandon the lockstep model
How should a lawyer’s skillsets be valued?
Changes in the industry that impact compensation methods
Tim talks about where he sees innovation and success for law firms
The difficulties surrounding law firm management and leadership skills
Tim’s advice on creating a thriving law firm: avoid a one-size-fits-all approach
