It’s time to use the balanced scorecard.
By Domenick J. Esposito
8 Steps to Great
Once the basic compensation pools have been established, your partners need to understand how they can “win” and get rewarded.
MORE ON STRATEGIC PLANNING: How to Drive Partner Performance with a Smart Compensation Plan | Develop the Partners You Already Have | How Many Partners Do You Need? | How to Develop Tactics for Your Strategic Plan | The Big Eight: Harsh Realities for Firms Today
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Each individual’s balanced scorecard will be the basis of performance measurement. I recommend six areas for evaluation:
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