On the the face of it, this looks like a interesting step forward for the professional services market.
Stephens Scown LLP, the largest law firm to implement a scheme of this nature, will allow participating staff to have a stake in the business.
The scheme, popularised by the John lewis Partnership, can increase productivity in the workplace as well as reduce the 'us vs them' mentality.
In a profession where money talks, is this another weapon in a firm's arsenal for retaining and attracting the best talent?
Stephens Scown has structured the scheme by creating a new company, Stephens Scown Limited, which is a member of the partnership (LLP) and is entitled to a share of profits equal to the bonus pot. The new company is owned by the staff through an Employee Benefit Trust.