A&O introduces partner flexi-time to improve female retention
Allen & Overy (A&O) is to allow equity partners to work part-time in a bid to retain more of its female workforce.
The arrangement, which will come into place on 1 May, will allow partners to work a minimum four-day week, or to take up to a maximum of 52 days extra leave a year, provided that an agreement is reached with relevant departmental managers.
Under the terms of the firm’s lockstep partners enter the equity on 20 points and gain two a year over 15 years until they accumulate a maximum of 50 points. Those who choose to go part-time will have their total points allocation capped at 30 points - the equivalent of progressing five years on the normal equity track - and will receive their profit shares on a pro rata basis.
Senior partner David Morley (pictured) said in a statement: “The introduction of a part-time equity partnership provides greater career flexibility and removes some of the existing obstacles to promotion faced in particular by women.
“It’s no longer realistic to provide just one option and say ‘take it or leave it’. If you’re going to make any real change you have to address the options available to people at all stages of their career – from associate through to equity partner – to help balance their professional and personal aspirations.
“We don’t pretend this is a cure-all, but it’s a serious attempt to take positive steps and to send a strong signal of our intent to retain talent in our business.”
Less than 20 per cent of A&O’s partners are women, although 40 per cent of those who were made up at the beginning of this financial year are female.
This is one of a series of measures adopted by the firm to promote female career progression, including the proposal to offer workshops to teach female associates “soft” communication skills (14 September 2009).
Clare McConnell, chair of the Association of Women’s Solicitors, said that flexible working can benefit both the employer and the employee.
“There are tremendous business advantages to both flexible and part-time working arrangements,” she said. “The solicitor’s more likely to feel loyal if they feel supported in finding a balance between their commitments and the organisation wins out because they don’t lose talented women.”
McConnell said the key to successful implementation was “communication and discussion” so that “all employees - including those who work flexibly and traditionally feel that they’re treated fairly”.
The part-time working decision comes after 18 months of consultation carried out by a steering committee chaired by partner Geoff Fuller and will continue to be responsible for the initiative.
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Readers' comments (14)
Anonymous | 21-Jan-2010 2:04 pm
well done A&O. This is a massive step ahead and other firms should be looking at this as an example. We are now living in very different times and one size certainly doesn't fit all.
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Anonymous | 21-Jan-2010 3:08 pm
I wish I worked for a firm like that. However, as a non-partner, I do hope they also apply the same principles to other levels of staff.
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Anonymous | 21-Jan-2010 3:20 pm
Err, isn't 4 days 80% of 5 days?
So either you cap at 40 points (80% of 50); or you cap at 20 + 80% of 30 = 44 points.
Either way the Old Boys still control the ship at A&O. And that's a shame...
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britomart | 21-Jan-2010 3:28 pm
How many female partners do A&O have? Is it a lot less than the rest of the magic circle?
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Anonymous | 21-Jan-2010 3:55 pm
60% of the parts for MINIMUM 80% of the commitment. Pretty clear who gets the better deal there, and it's not the women (or other?) partners who take up the option. Not sure how many people that is going to fool...
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Anonymous | 21-Jan-2010 4:42 pm
Unfortunately the article does not explain the policy properly leading some misunderstanding in the comments. My understanding is that female partners will have the option of working 80% of normal working hours (either 4/5 days or with increased holiday) and will receive 80% of normal equity points, subject to a maximum overall cap of 30 equity points in total. In other words, if you are to progress through the ladder beyond 30 points then you need to return to full time work. If this is correct then the "best" approach would seem to be to have the kids as soon as you get made up so they are at school by the time you want to return to work full time!
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Anonymous | 22-Jan-2010 11:48 am
Frankly, I'm surprised A&O are shouting this from the rooftops as they are.
It might be good news for female partners, but other firms have been doing this for a long time without seeing the need to trumpet it in the press like this
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mary | 22-Jan-2010 3:08 pm
Is this new? Looks like A&O are trying to make themselves out to be revolutionary when actually they're copying something that a lot of firms have been doing for a long time. I know my firm introduced flexi-working for partners about 10 years ago.
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Anonymous | 22-Jan-2010 3:12 pm
This is fantastic news. As a female associate who wants both a family and a successful career I think most men don't realise how hard it is to make it in this profession.
This kind of initiative is exactly what I am looking for when considering my next move. I just wish it was the norm rather than the exception.
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Fanny | 22-Jan-2010 3:13 pm
Do you really expect clients to respect that their female partner is not working on Tuesdays or another day for that matter when they need to get advice? Of course not. They expect you to be at the end of the blackberry regardless. This will simply see women being paid less to do the same amount of work. As an earlier poster mentions, the only element who benefits in this is the firm which cuts its overall staff costs while parading itself as "female-friendly." What complete tosh.
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