Global law firm Clifford Chance is the latest BigLaw firm to remunerate staff with one-off bonuses in the wake of the pandemic.
In recognition of its staff having gone “the extra mile” since the onset of the COVID-19 pandemic, Clifford Chance has announced it will issue one-off payments of 5 per cent of salary, consistent across the firm, to all staff members.
The news follows a move by Herbert Smith Freehills last week, in which it pledged to make a one-off financial payment to all staff, amounting to 5 per cent of an individual’s salary, which will be made in addition to the firm’s usual 2021 bonus round.
“This is an acknowledgement of their dedication and hard work, in the face of the tremendous disruption and challenges experienced in the last year,” HSF chief executive Justin D'Agostino proclaimed at the time.
Speaking about his own firm’s bonuses, Clifford Chance global managing partner Matthew Layton said that he could not be prouder of the firm for its performance in the past 12 months.
“Over an extraordinary year, and in the face of sometimes immense personal challenges, our people have consistently gone the extra mile to support our clients and to support each other,” he said.