Revamping the law firm model

In the latest episode, the Lawyers Weekly Show speaks with Salvos Legal managing partner Luke Geary about formulating a healthier law firm model based on incentives other than equity. Under the current system, most law firms reward lawyers for long hours at the office - and the carrot for working harder tends to be moving up the ladder, towards the end goal of equity partnership. In Mr Geary's view, this model fails to recognise other contributions made by lawyers and can detract from their relationships and other pursuits. In particular, he warns this approach is unlikely to motivate and retain millenials, alienating the next generation of talent. Our host and acting editor, Stefanie Garber, chats with Mr Geary about the potential issues with the current structure and how firms can re-think their models to create a more motivating environment primed for the future. http://www.lawyersweekly.com.au