Media Mentions
2010
Jeffrey Stone commented on McDermott’s new merit-based pay and promotion system for The National Law Journal (January 13). He emphasized that the move is not aimed at cutting costs, but rather is structured to reward the best performing associates while creating greater value for clients. “The old lockstep system rewarded for longevity. It failed to reward increases in competence,” Mr. Stone said. As part of the change, by 2011, associates will be placed in one of three pay levels based on skills achieved and business experience. Mr. Stone added that McDermott’s training will be adjusted to focus on the core competencies deemed the most significant at each pay level. The three-tiered aspect of the Firm’s new compensation system was also noted by JD Journal in a January 12 story.
John P. Hendrickson PC, Jeffrey E. Stone
Jeffrey Stone and John Hendrickson both addressed, in a January 12 Law360 story, McDermott’s implementation of a new associate pay structure based on performance. Mr. Stone, chair of the Firm’s Management Committee, said the new system is about “aligning performance with compensation,” adding that it “puts a laser-like focus on competency and delivering value for the clients.” Mr. Hendrickson, chair of the Firm’s Compensation Committee, added that the new model “will ultimately deliver more cost-effective and valuable services to our clients while setting clear standards for the development of associates.”
John P. Hendrickson PC, Jeffrey E. Stone
2006
John Hendrickson was quoted in the May 2006 issue of Employee Benefits News in an article about how if employers were more mindful of the quagmires of legal snares and entanglements, they would be better equipped to take preventative measures and evasive maneuvers. "The law is extremely complex. It's easy for even a well-intentioned employer to get in trouble," said Mr. Hendrickson. "You miss a report, commit a technical violation, use the wrong definition—there are all kinds of ways to slip up," he added.
John P. Hendrickson PC, Employee Benefits
John Hendrickson was quoted in the May 2006 edition of Employee Benefits News in an article about how if employers were more mindful of the quagmires of legal snares and entanglements, they would be better equipped to take preventative measures and evasive maneuvers. "The law is extremely complex. It's easy for even a well-intentioned employer to get in trouble," said Mr. Hendrickson. "You miss a report, commit a technical violation, use the wrong definition—there are all kinds of ways to slip up," he added.
