The top 10 City firm has launched a programme dubbed ‘Make a Difference’ in which small groups of partners have been asked to volunteer improvements they could make to their practice area. Partners have recently started working on proposals, which could include pledges to improve specific client relationships.
The move is the latest part of a two-year push by Gold to improve partner contribution at the firm, which is also attempting to measure perform- ance according to a partnership charter agreed earlier this year.
The firm will review partners on more than their financial contribution, looking instead at net performance across a range of areas including business development and dealings with clients and associates. Partner appraisals will now include references to the charter.
Herbert Smith chief operating officer Norman Green said: “This is a values and cultural improvement we are going for. We are trying to take a more balanced approach to performance — wider than just financial results.”
Herbert Smith does not have powers to move people down the lockstep, although it can ask people to leave the firm or become consultants.
One partner at the firm said: “If people are not taking the charter into account then you have got a reference point. It is about taking personal responsibility for your contribution and the success of the firm.”
The decision comes against a backdrop of increased overseas investment for Herbert Smith. The
