Hammonds is to radically reform the way it handles resignations and notice periods of departing partners once the firm’s 14-month lock-in ends in June.
The firm is considering a range of measures that will help to cut down on the number of departures in any one year.
Hammonds’ options include extending its current six-month notice period to a full year; setting an upper limit on the number of partners who can leave within a year; and even restricting the days on which partners can resign.
Any changes would need the support of the Hammonds partnership, which last week (21 April) voted in support of a strategic review that will see the firm move towards a performance-based remuneration system. The firm is also replacing the role of senior partner with a non-executive chair.
Managing partner Peter Crossley declined to comment on the current discussions, but did say: “I am sure you’ll accept that it would not be appropriate for me to discuss the terms and conditions of any employee or partner contracts, as any such details are naturally strictly confidential.”