Employee Compensation and Pay-for-Performance in the Legal Profession

1520 WordsFeb 4, 20186 Pages
Employee Compensation and Pay for Performance in the Legal Profession c Objective The objective of this study is to address the meaning of 'pay for performance' and to examine other approaches available to paying employees in the legal profession or other professions that provide services to customers. In addition, this study will examine the drawbacks of a pay-for-performance plan for beginning law associates from both the employer and employee's perspective and factors required for a successful pay-for-performance system. Introduction Pay-for-performance is examined in the work entitled "Controversial Issues" addresses the ethical issues, challenges to pay for performance, disparities and risk adjustment, designing measures, the guidelines being challenged and customer satisfaction. There are reported to be "numerous ethical and moral issues surrounding pay for performance. It is reported that Goold and others questioned the "potential adverse effects of pay for performance" on the practitioner-client relationship. Pay for performance is reported as having many definitions. Common features of pay for performance are reported to include the award of a periodic bonus for reaching certain goals. I. Pay-for-Performance at Microsoft It is reported that pay for performance is part of the new 'Law Firm Diversity Program' used to enhance diversity in the legal profession. The Microsoft program changes the legal fee structure for 17 Premier Preferred Provider (PPP) law
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