Believe it or not, Fleetwood Mac were a little before my time, but interesting comparison between bands and partnerships. I’ve previously commented about the traditional ‘lock-step’ model and how many firms are now adopting a performance related remuneration policy. It’s true that the ‘lock-step’ model should avoid disputes that can lead to a partnership breaking up. However, do these rigid payment models lead to loyalty? At the heart of every partnership is a sense of belonging, which needs to be endorsed by the leadership team and embraced by the partner group.
Bands are partnerships, like many law or consulting firms. Some of them, like Fleetwood Mac, last nearly as long as businesses and suffer similar strains. Relations between partners are delicate, complex and easily disturbed.