Magic circle firm Allen & Overy will allow full equity partners to work part-time in a move aimed at retaining more women in the partnership. The firm’s policies on career breaks for associates, part-time work, job sharing, working from home, paternity leave and emergency childcare helped it achieve first place in the FT Innovative Lawyer Awards in 2006 for helping parents. It was commended in the same category in 2008.
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Open to all partners globally, part-time partnerships allow men and women to cut the amount of time they work while continuing to progress as an equity partner, for a maximum of eight years. Partners will be able to work a four-day week or take an extra 52 days leave a year. Remuneration will be pro rata. The exact working arrangements will be agreed with the practice group or office to suit each partner’s needs while accommodating client commitments.
“The introduction of part-time equity partnership provides greater career flexibility and removes some of the existing obstacles to promotion faced in particular by women,” senior partner David Morley said. “It’s no longer realistic to provide just one option and say ‘take it or leave it’,” added Morley. “If you are going to make any real change you have to address the options available to people at all stages of their career – from associate through to equity partner – to help balance their professional and personal aspirations. We don’t pretend this is a cure-all but it’s a serious attempt to take positive steps and to send a strong signal of our intent to retain talent.”
Allen & Overy developed the new arrangements after consulting partners over the past 18 months. It is one of several ways in which the firm hopes to improve staff retention rates and enhance the partnership pool. Other initiatives include a greater focus on skills training and other capabilities needed for senior associates to progress to partnership.
The part-time partnership option is not available to partners at Trilegal, Allen & Overy’s affiliate in India.
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