A Case Study On The Innovation Of Partner Grading System In G Law Firm

As an organization that provides professional legal services to clients,the core resource of law firm is talent.How to reduce the staff turnover rate of law firms and attract excellent lawyers is an urgent problem to be solved in the development process of law firms.Law firms should take the management concept of human cooperation as a foothold,constantly strengthen the internal management,through the organization and implementation of effective incentive mechanism to build a stable talent echelon and a steady flow of new forces,in order to stand out in the industry competition and achieve rapid development.The object of this paper is the innovation case of the partner classification system formulated and implemented by G Law Firm in 2018.The system mainly divides partners into senior partners,first-level partners and second-level partners in a hierarchical way.Through the ladder promotion incentive method,a group of excellent lawyers are recruited as first-level and second-level partners.Reduced the talent turnover rate and built a cohesive core team,gradually improved the operating efficiency,and achieved satisfactory implementation results.Since the implementation of the grading system is successful,the research goal of this paper is to evaluate afterwards to extract the successful experience in the case,and at the same time,to further improve and analyze some deficiencies for further system innovation in the future.Based on the theory of institutional innovation and principal-agent,and from the perspective of organizational innovation under the policy constraints of partnership law firms,this paper analyzes the important role that the classification system has played in the development of G law firm since its implementation,and summarizes its advantages and areas to be improved.In order to improve the partner classification system of G law firm and provide targeted suggestions in organizational management,and to provide reference and reference for the management of the same industry partnership law firm.Through the research,this paper finds that the main experiences of the successful implementation of the partner classification system include: institutional innovation requires the combined action of internal and external factors;To ensure the effectiveness of the system by means of explicit contract;The concept of sharing benefits as the focus of corporate culture construction;Design the appropriate governance structure to guarantee the control right;Clearly defined promotion criteria,etc.At the same time,we also found that the system needs to be improved mainly: the property right system has not been included in the category of partner classification system innovation;Partner profit distribution mode is relatively simple;The lack of disclosure of financial data to the satisfaction of partners;The implementation scope of partner classification system is small;Lack of withdrawal system of partners,etc.In view of the above shortcomings,the following suggestions are put forward: the optimization of corporate governance structure and appropriate delegation of power;Pay attention to mid-and long-term incentives and optimize the income distribution;System innovation should strengthen fund budget management;Expand the incentive object and scope of the classification system;We will improve the compensation system for retired partners.This system has carried out a certain degree of innovation,tying the long-term development of the law firm with the personal development of lawyers,balancing the rights and interests of partners at all levels,and consciously screening and cultivating successors,retaining a large number of core members,which makes the development of the law firm continue to grow.