Field Fisher Waterhouse (FFW) is considering implementing its first-ever associate bonus scheme after holding a two-day partnership meeting to look at growth plans.
Managing partner Moira Gilmour said: “We don’t have an assistants’ bonus scheme at the moment, but it’s something we’re looking at very closely. It’s almost inevitable.”
Gilmour said the bonus structure had not yet been decided, but is likely to reward group efforts rather than be based solely on the hours billed by individuals. The strategy discussions led the firm to set up a forum for associate representatives from all practice groups to make suggestions to central management.
IT partner Rob Shooter is the contact point between central management and the forum, known as ‘Assistants’ Assistance’.
Gilmour said: “It’s as important as a financial bonus to make assistants feel part of the firm.”
Over the next year the firm will also seek out a presence in China, either opening its own office or forming an alliance with a Chinese firm.
The firm has a practice advising Chinese banks and companies on their activities in the EU.
Turnover targets were also discussed at the meeting. The partners expect FFW to break through the £75m mark by 2008.