Stephens Scown changes to shared-ownership model; ranks highly on ‘Best place to work’ list
updated on 11 March 2016
Cornish law firm Stephens Scown has agreed a new shared-ownership partnership, similar to that made famous by John Lewis, which will see all members of staff - including trainees - entitled to an equal share of the firm’s profits.
Under the scheme, all profits over a certain threshold will go into a central pot, with half retained by the firm and the other half to be divided equally among all staff. In other news that reflects the firm’s reputation as a good employer, it recently placed 12th on the Sunday Times’ Top 100 Best Mid-sized Places to Work list, the highest placed law firm on the list and most improved company (coming up from 39th position the year before).
As reported in Business Cornwall, Robert Camp, managing partner, said: “This is all about giving everyone a real stake in the business. No matter what role someone has, we are all part of the same team and I wanted part of everyone’s remuneration to come from an equal sharing of profits. I’m delighted that the new scheme has now been given the green light after several years of discussion and work. I believe it will have a tremendously positive impact on the firm. Back office support staff in particular will feel much more involved as we will all be working towards the same goal.”
