Associates at Addleshaw Goddard are being encouraged to start pulling all-nighters again, after the firm announced guaranteed bonuses for star performers.
Addleshaws offers a firmwide bonus to associates and support staff if the firm achieves a certain profit margin at the end of the financial year. Last year the target was set at 32%. However as the firm failed to hit that target, no-one received any bonuses at all. Brilliant.
Recognising that this may not be the best way to encourage outstanding performance, the firm has not only reduced this year's target to a more reasonable 26%, but has also announced that star-performers will receive a bonus anyway, whether or not the target is hit.
A spokesman for the firm said the scheme hoped to reward a few members of staff who worked particualarly hard over the past year. However he wouldn't reveal how many were in line for the guaranteed bonus. So, let's assume that's 3 then.
Tip Off ROF
Addleshaws offers a firmwide bonus to associates and support staff if the firm achieves a certain profit margin at the end of the financial year. Last year the target was set at 32%. However as the firm failed to hit that target, no-one received any bonuses at all. Brilliant.
Recognising that this may not be the best way to encourage outstanding performance, the firm has not only reduced this year's target to a more reasonable 26%, but has also announced that star-performers will receive a bonus anyway, whether or not the target is hit.
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A star-performer yesterday |
A spokesman for the firm said the scheme hoped to reward a few members of staff who worked particualarly hard over the past year. However he wouldn't reveal how many were in line for the guaranteed bonus. So, let's assume that's 3 then.