A podcast series from the Professional Practices Alliance (PPA), a multi-disciplinary collaboration between leading independent firms, advising professional services firms on partnership and employment law, partner remuneration, strategy, tax, accountancy and compliance issues. Subscribe to our podcasts where we discuss the key issues impacting professional services firm. For further information, please visit https://www.professionalpracticesalliance.com/
Moving the ESG Needle for Law Firms - Deciding What Matters and What Can Be Achieved
We are delighted to share with you the recording of the recent Professional Practices Alliance webinar, Moving The ESG Needle For Law Firms – Deciding What Matters And What Can Be Achieved, in which our expert panel discuss how professional practices priorities are shifting regarding ESG.
In this webinar, our chair Andrew Pavlovic (https://www.cm-murray.com/people/andrew-pavlovic/), (CM Murray LLP (https://www.cm-murray.com/)), Rob Millard (https://www.linkedin.com/in/robmillard/) (Cambridge Strategy Group (https://www.camstrategy.com/)), Zulon Begum (https://www.cm-murray.com/people/zulonbegum/) (CM Murray LLP (https://www.cm-murray.com/)) and Sarah Chilton (https://www.cm-murray.com/people/sarah-chilton/) (CM Murray LLP (https://www.cm-murray.com/)) discuss the following:
Materiality – how firms should determine their priorities when it comes to ESG, as firms move away from focussing on their own emissions and are now increasingly considering the environmental impact of their client work
Stakeholders - the importance of identifying key stakeholders and carefully considering and incorporating their interests into your ESG strategy
Client Selection - taking a nuanced approach when considering whether or not to act for clients whose ESG-related aims and values may not wholly align with that of your firm, balancing business needs, the concept of access to justice, and whether firms can use their expertise and experience to mitigate any potential negative impacts of their advice
Remuneration - the increasing shift towards incorporating elements of non-financial performance (i.e. alignment with and adherence to firms’ ESG-related policies) into partner assessment and remuneration policies
Risk Management - the risk of discrimination claims under the Equality Act 2010 where, for example, a member of staff is treated less favourably and/or harassed because of their beliefs on climate change
If you would like to discuss any of the above issues in further detail, please contact Partner, Andrew Pavlovic (https://www.cm-murray.com/people/andrew-pavlovic/), who specialises in regulatory law and professional discipline matters for firms and partners.
13 Jul 2023
Show me the Money! Shaping a Dynamic and Flexible Profit Sharing System to Smooth the Bumpy Road of Succession
We are delighted to share with you the recording of the recent Professional Practices Alliance webinar, 'Show me the Money! Shaping a Dynamic and Flexible Profit Sharing System to Smooth the Bumpy Road of Succession'.
In this webinar, you can hear from guest speaker Jonathan Blair (https://www.womblebonddickinson.com/uk/people/jonathan-blair) (Womble Bond Dickinson (https://www.womblebonddickinson.com/uk)), chair Zulon Begum (https://cm-murray.us1.list-manage.com/track/click?u=a04b21c9604bd6905cd9285e1&id=fe84f1e15d&e=e320c50d2b), (CM Murray LLP (https://www.cm-murray.com/)), and PPA speakers David Shufflebotham (https://pepup.consulting/) (Pep Up Consulting (https://pepup.consulting/)), and Sarah Chilton (https://www.cm-murray.com/people/sarah-chilton/) (CM Murray LLP (https://www.cm-murray.com/)) as they discuss the following:
A refresher on the different types of profit sharing systems used by firms and how to deploy them, focussing on fixed share, variable share, managed lock step, and managed merit systems
An assessment of the impact that each profit sharing system can have on partner behaviours, specifically assessing the impact that they have on collaboration, apportionment of risk, and investment
Structuring a firm to motivate, encourage, reward and incentivise partners not only financially but through peer recognition and career progression
The succession of the partnership, including elegant exits, smooth retirements and the importance of structuring a firm to appeal to the next generation of partners
If you would like to discuss any of the above issues in further detail, please contact Partner, Zulon Begum (https://cm-murray.us1.list-manage.com/track/click?u=a04b21c9604bd6905cd9285e1&id=fe84f1e15d&e=e320c50d2b), who specialises in partnership law for firms and partners.
29 Jun 2023
Is Your Firm prepared for the Financial Year Ahead? Key Trends and Challenges for Professional Services Firms in 2023/24
We are delighted to share with you the recording of our recent webinar, ‘Is Your Firm prepared for the Financial Year Ahead? Key Trends and Challenges for Professional Services Firms in 2023/24’, in which our expert panel discuss the financial year ahead for professional services firms.
In this webinar, you can hear from Chair, Corinne Staves (https://www.cm-murray.com/people/corinne-staves/) (CM Murray LLP (https://www.cm-murray.com/)), and speakers Robert Millard (https://www.camstrategy.com/our-partners/robert-millard/) (Cambridge Strategy Group (https://www.camstrategy.com/)), David Shufflebotham (https://pepup.consulting/) (Pep Up Consulting (https://pepup.consulting/)) and Andrew Pavlovic (https://www.cm-murray.com/people/andrew-pavlovic/) (CM Murray LLP (https://www.cm-murray.com/)) as they discuss the following issues to include in professional service firms ‘to do’ list for the next financial year:
How to remain profitable and effectively manage the firm’s cash flow at a time of stalled economic growth, inflation, cost of living crisis and basis period reform.
Implementing a strategy and the importance of having a Plan B strategy, especially during a time where firms are adapting to deliver client services in a new technological era.
How to maintain and enhance a firm’s culture and productivity in a hybrid working environment, including the impact that long-term hybrid working may have had on a firms culture.
Key regulatory developments and the practicalities surrounding how to approach them, specifically the new SRA regulations to address toxic work environments by actively challenging behaviours in the workplace.
Whether ChatGPT could spell the end of lawyers or whether it can be harnessed to improve service delivery and profitability of firms.
The potential regulatory issues that arise from using new technology (such as Chat GPT) to assist with delivering client services.
The increasing need for professional service firms to address environmental issues.
If you would like to discuss any of the above issues in further detail, please contact Partner, Corinne Staves (https://www.cm-murray.com/people/corinne-staves/), who specialises in partnership issues for firms and partners.
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