Pinsent Masons updates bonus scheme
Pinsent Masons has updated its bonus scheme for fee-earners as well as business operations staff.
The new scheme will see staff expected to satisfy the same criteria for bonuses, irrespective of their department or role.
This means that aspects of the former scheme have been discarded, including matter related hours (MRH) targets. Employees will now be judged on four metrics: trust among colleagues and clients, impact on the environment and its community and conduct as a purpose-led organisation.
The firm’s senior partner Richard Foley said: “In 2020 we began measuring our success against metrics that align with our purpose-led strategy and so it naturally follows that our people should be rewarded for helping us to improve against those.”
Director of HR and learning, Jonathan Bond, added: “Performance can no longer be defined by a volume of hours worked, and so by rewarding hard work and outcomes in a more sophisticated way we’re empowering our people to put their energy into achieving the best outcomes for our clients and communities.”