Tuesday, June 28, 2016
Great minds think alike -- about compensation models for law firms.
I came away from Liane Jackson's ABA Journal article, $10K prize-winning hackathon team dreams up new compensation model for law firms, doing a happy dance: not just because I liked the ideas put forth by the winner but also because I've been writing about this issue for a while, both by myself and with co-author Randy Gordon (see Nancy B. Rapoport, 'Nudging Better Lawyer Behavior: Using Default Rules and Incentives to Change Behavior in Law Firms, 4 St. Mary's J. of L. Ethics & Malp. 42 (2014) and Randy D. Gordon & Nancy B. Rapoport, Virtuous Billing, 15 Nevada L.J. 698 (2015)). The short version? People do the activities that their organizations reward. If you don't like the behavior, take a good look at your reward structure.