33rd Annual Board of Directors Study
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The New Legal Capital: Challenges of Finding and Keeping Top Law Firm Talent
Read how law firms train and develop their best talent.
author profile
Russell Miller
Managing Director
Executive Compensation Advisors
Russell Miller is Managing Director of Executive Compensation Advisors (ECA) which specializes in management compensation and reward consulting. Mr. Miller brings to ECA 20 years of experience advising boards and senior management on performance measurement and compensation strategy and design, with the ultimate goal of aligning reward programs with the creation of shareholder value.
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33rd Annual Board of Directors Study
The New Legal Capital: Challenges of Finding and Keeping Top Law Firm Talent
Competitive Pay for Private Companies
By
Russell Miller
Given the controversy surrounding executive pay, private companies may be relieved that their compensation packages are protected from the glare of public disclosure. But private company pay packages also may be failing to attract the right sort of attention. Executive compensation plans at private entities may be falling short for two reasons. First, they often fail to attract and retain top executive talent because their size and structure don’t quite measure up to the incentive compensation packages at public companies. Second, private company compensation plans tend to motivate managers to concentrate too much on short-term challenges and too little on long-term success.
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