Brainerd, Bennis & Farrell (A) Case Solution
Introduction:
Brainard, Bennis and Farrell (BBF) isa law office situated in Fair field County in New York. After its inception, BBF became recognized through referrals and networking from representatives. Presently, the firm has more than 160 experts and offers services from tax to bankruptcy. Since the firm has turned out to be so huge, pay issues have been raised. Richard Kincaid, the Chairman of the Executive Committee, is identifying a point allocation system which would effectively compensate the company’s employees for their work. In order to show the adequacy of this system, we will take eight partners and clarify the focuses by taking into account a few components and certain circumstances.
Firm’s objectives:
The firm is to stay competitive. BBF plans to do this by employing qualified experts and maintaining high quality services. Moreover, its short term objective is to eliminate the compensation issue that influences reputation and success of the firm. Its long term objective is that itwould like to hold its experts by making an agreeable working environment whichis unique in relation to the Wall Street environment.
Problem or issue statement:
The current remuneration system set up by the firm was creating conflicts after the hiring of young employees as they thought they were not being paid enough. Therefore, the issue for the compensation is that in which the board of trustees has to determine the issue of execution as compared to theseniority and to actualize an ideal compensation system that would be beneficial for all the partners in the firm.
Links between the firm objectives and the compensation system:
BBF is considering maintaining its workers by giving competitive pay rates. The allocation framework should be both subjective and objective. Particularly with a large law office, the objective system can be perceived easily. Additionally, measures like billable hours work, non-billable hours, charging rate, and so on are objective systems with the company’s stated goals.
All in all, in order to make a positive work environment, it should include feasible compensation plans that precisely reflect workers efforts. For the hiring purpose, the firm should offer the competitive salary that will attract the employees to work with them. Moreover, BBF is encountering increasing competition and a lower growth rate. Therefore, the allocation system should be evaluated optimistically that will retain the employees without affecting its financial conditions.
Description of the allocation system for recommendation;
The purpose behind the allocation system is to give a precise salary base that legitimately respects the legal experts for their work. The remuneration issue can be tackled by allotting weights to the criteria, gathering data on performance, and utilizing a method to allocate attentions fairly.
Therefore, the firm is recommended the following four options for salary allocation, which includes:
- Seniority based system
- Performance based system
- Present salary system
- New hybrid compensation system........................... This is just a sample partial case solution. Please place the order on the website to order your own originally done case solution.
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