City firm Mishcon de Reya has appointed external consultant duo, Alan Hodgart and Robbie Cowan, to help shape its 10-year strategy plan. With the review already well underway, proposals tabled include its merit-based pay structure with an emphasis on altering the way it rewards origination points.
Having interviewed for the roles back in spring, the firm has brought in Hodgart as lead consultant, who previously served as managing director at Huron Consulting Group before launching his own consultancy in 2013. Also involved is strategist Cowan who has been a longstanding adviser to the firm for 20 years and currently works for Mishcon’s independent private client advisory business Mayfair Private.
In assessing the structure of its remuneration system, the aim is to see how the firm can more effectively reward lawyers on all levels for good behaviour and potentially incentivise team playing.
Also on the firm’s agenda is retaining extra office space ahead of its move to Africa House in Holborn this summer, and management are considering housing some of the firm’s operational staff at its current premises at Summit House or elsewhere with a view to developing training hubs.
Speaking to Legal Business, managing partner Kevin Gold (pictured) said: ‘As a business we view operations as very important functions. For instance human resources isn’t just about payroll, it’s about coaching, tutoring and mentoring. All operational functions will be converted into a centre of excellence so they will provide services to the firm and effectively act as training hubs.’
The firm is two years into its current three-year strategy, which involved investing heavily through the down-turn and building a distinct brand as an adviser bridging high-end private client work with an entrepreneur heavy corporate client base.
Now it is looking to build out its strategy to include a long-term 10-year vision, broken down into three-year plans with annual budgets. Gold previously told Legal Business the firm will continue to focus on private client and litigation work, and on the issue of internationalisation which is delegated to partners Adam Rose and Kasra Nouroozi.