Olswang has introduced an incentive scheme that rewards staff who bring in new business.
The Revenue Share Scheme is open to all employees at the firm, from partners through to business services staff. If an employee introduces a new client who subsequently spends more than £20,000 in the first year instructing the firm, they will receive a Revenue Share payment of 10 per cent of the instruction fees in the next year.
Alternatively, if an employee brings in new instructions from existing clients to the value of £20,000 in a financial year, they will receive 5 per cent of the instruction fees.
Olswang CEO Paul Stevens said the move would ”promote an entrepreneurial spirit across the firm and drive our staff to think about clients first.”
He added: “The Revenue Share Scheme will allow us to proportionality reward staff – from fee earners to business services – for the introduction of new, valuable relationships to the firm. It’s a programme that we expect will deepen the firm’s alliances with the wider TMT sectors and real estate market and will no doubt propel Olswang’s client roster in the years to come.”