The Rainmaking Podcast TRP 118: Counterintuitive Problems with Partner Compensation with Blane Prescott
In this episode of The Rainmaking Podcast, host Scott Love speaks with Blane Prescott, managing shareholder of Mesa 5, about the counterintuitive challenges law firms face with partner compensation. Blane, an expert in law firm strategy and growth, explains how traditional compensation models often fail to motivate partners effectively and why incentives alone don’t create new rainmakers. He highlights the need for firms to focus on aligning compensation with each partner’s strengths rather than enforcing a one-size-fits-all approach.
Key topics include why financial incentives don’t drive business development skills, the risks of relying too much on profitability metrics, and how excessive data can create confusion and dissatisfaction. Blane also discusses the differences between open and closed compensation models, the importance of trust and leadership in firm culture, and why law firms should track origination credits fairly. This episode offers valuable insights for law firm leaders looking to refine their compensation structures and create a more engaged, high-performing partnership.
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Blane Prescott is a consultant and the Managing Shareholder with MesaFive, LLC, (www.mesafive.com) and has more than 30 years of experience working in the legal profession. He works with law firms and in-house counsel throughout North America, Asia, and Europe.
MesaFive, LLC is a boutique management consulting firm serving law firms and in-house legal departments and focuses on strategy, structure, and growth.
This show is sponsored by Leopard Solutions Legal Intelligence Suite of products, Firmscape, and Leopard BI. Push ahead of the pack with the power of Leopard. For a free demo, visit this link:
https://www.leopardsolutions.com/index.php/request-a-demo/
Links:
https://www.linkedin.com/in/blane-prescott-98506948/
Here is the link to the article:
https://www.mesafive.com/_files/ugd/992d67_89f5c27db09241f4a6db8c7918b5dd1e.pdf
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https://www.mesafive.com/insights
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