Law firm Allen and Overy has announced plans to allow partners to work part-time in an attempt to retain its female staff.
Partners will be allowed to use flexible working as part of the new arrangement and will either be able to work a four-day week or get an extra 52 days leave a year. Remuneration will be paid pro rata to the amount of time worked.
David Morley, a senior partner at Allen and Overy, said: “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.
"It is no longer realistic to provide just one option and say 'take it or leave it'. 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 do not pretend this is a cure-all but it is a serious attempt to take positive steps and to send a strong signal of our intent to retain talent in our business."
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