Denton Hall's introduction of a profit-related bonus scheme for senior solicitors not at partnership level is one which will capture the attention of all assistant solicitors. In effect, it is akin to a salaried partnership package with less liability.
There is no doubt that firms have to come up with some sort of package to motivate senior fee earners. At a time when mobility is at an all-time high in the profession, moving elsewhere is an option which looks good on the CV.
On the downside, firms have invested years of training in solicitors who then go to the competition armed with know-how and valuable client contacts. The partnership bottleneck inevitably demotivates lawyers, which in turn demotivates others in the firm. It is time firms addressed these issues instead of accepting that senior lawyers who do not make partnership should put up or ship out. Denton Hall should receive credit for taking the lead; let us hope others follow.