HF has introduced an all-employee share scheme to “turn the traditional law firm model on its head and putting its people at the centre of its success”.
The Manchester, UK headquartered law firm’s new share incentive plan will give staff who have been working at the company for more than a year, the chance to own shares in Horwich Farrelly Limited. Shares will be allocated from the start of 2023 and the scheme is open to all eligible employees.
Ronan McCann, CEO and managing partner at HF, said: “I’ve wanted to do this for a long time, to genuinely involve all our people in the success of our business.
“This is a ground-breaking move for a law firm and aligns perfectly with our culture and drive to be different and innovative. We say that we are people, not just lawyers, and we’re wholly committed to maintaining that difference for the benefit of our people as well as our clients.”
The firm hopes that by giving employees the opportunity to own a share in the business, those conducting legal services and those within support functions will join forces “with a personal and common aim to drive the success of the business as a whole”.
The share schemes were introduced to complement HF’s existing benefits package, which includes performance-related bonuses, flexible benefits packages including pension schemes, health insurance, a discount benefits portal, flexible working patterns.
John O’Roarke, chairman at HF, added: “HF has an outstanding, people-centred culture and prides itself on not being a stereotypical law firm. This latest move is something we’ve been working towards for a while and I’m excited for the future. Sharing ownership in this market-leading way supports our people and client-focused culture as well as positioning HF as a great place to work.”