Law firm Shoosmiths will award a 5% bonus to 1,300 eligible members of staff next month.
The bonus, which will be drawn from a £3.5 million bonus pool, will be paid in recognition of employees’ contribution to the firm’s continued momentum.
Its profit per equity partner increased by almost a third in the 2024-25 financial year to surpass £1 million for the first time, while net profit rose by 16% to £76.6 million and revenue grew by 5% to £217.2 million.
David Jackson, chief executive officer of Shoosmiths, said: “I’m so proud that the hard work and dedication of our people has translated into fantastic outcomes for our clients and an amazing financial performance for our firm. We’ve been super clear about where we think we can add most value to our clients, and as a result they’ve trusted us with more of their business-critical work in those areas.
“Our results speak to the power of staying focused on what matters, not chasing growth for growth’s sake, and backing ourselves to deliver outstanding results. Our challenge now is to build on this momentum, to stay ambitious, stay curious and keep finding better ways to support the people and businesses we serve.”
Last month, Shoosmiths launched a new flexible working framework called the Core, Hub and Community Model. Its aim is to balance collaboration with client service, while providing flexibility for its workforce.
In April, the firm linked its employee bonus scheme to the use of artificial intelligence (AI), using Microsoft’s Copilot tool across its operations to form part of its multi-million collegiate bonus pool, which is available to all staff. It set an annual target of one million prompts to unlock a £1 million bonus pot to share with staff in its new financial year. Usage will be tracked and shared, with monthly updates provided to encourage employee collaboration, learning and momentum.
