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Brainard, Bennis & Farrell - Written Analysis and Communication

Autor:   •  November 22, 2016  •  Case Study  •  1,587 Words (7 Pages)  •  710 Views

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BRAINARD, BENNIS & FARRELL

Written Analysis and Communication I (2016-17)

Instructor: Professor Meenakshi Sharma

Academic Associate: Girija Shankar Semuwal

Submitted on August 20th, 2016 by

Anand Ashok Kumar

Section B


March 20, 1995

Richard Kincaid

Brainard, Bennis & Farrell

Stamford

USA

Dear Mr Kincaid,

Subject: New compensation framework for partners in Brainard, Bennis & Farrell

The enclosed report details the analysis of the current scenario at Brainard, Bennis & Farrell and the recommendation with regards to the calculation of the new compensation framework.

Thanks and Regards,

Anand Ashok Kumar

Enclosure: Detailed report


Executive Summary

The law firm, Brainard, Bennis and Farrell requires to come up with a compensation framework that creates a common understanding amongst all the partners with regards to the allocation of the outstanding 1000 points. The absence of a well-articulated compensation system has prompted the partners in the firm to question the existing framework. The young partners need a compensation system that favours the current performance and is not biased heavily towards the senior partners. It is recommended that equal weightage (50%-50%) be given to the current performance which will be based on parameters (Exhibit 1) and will factor in seniority equally.

* Number of words: 101


Table of Contents

Situation Analysis        

Problem        

Recommendation        

Exhibits        



Situation Analysis

Brainard, Bennis and Farrell, a law firm is facing difficulties in designing a compensation framework that is agreeable to its partners. In its early years, on account of its motive of practising law ‘deeply’, it could attract quality clients and talented hires. This helped the firm get off to a strong start and helped them establish a solid reputation in its early years. The compensation system for the partners in the early days experienced a smooth functioning on account of two main factors: Firstly, the hires in the firm were aligned to the founder’s goal of giving more importance to the profession rather than the economic aspect of the firm. Secondly, the quality clients helped the firm maintain a pool big enough to keep the partners happy.

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