Cushman & Wakefield has created a limited liability partnership for around 100 of its executive and international partners.
It is not the first time the company has had a partnership model. Before the merger with DTZ, which was a director structure business, C&W was an LLP but it is returning to the model again.
Colin Wilson, Cushman & Wakefield’s head of UK & Ireland, said the move was not about fees or bonuses but was purely about encouraging collaborative leadership within the organisation.
The move follows the firm’s recent new corporate grading and career structure in its EMEA business with a three tier structure: executive partner, international partner and partner.
Promotions to executive and international levels will include an invite to join the LLP.
Wilson said: “We are very positive about the impact that’s likely to have and is having in terms of bringing everyone together with a common vision and a common purpose.”
He said: “The reward strategy is very much about producer focus. We want to make sure that we competitively reward those that produce for the business in the widest sense.
“There’s no direct linkage to the LLP and the reward model is something we are applying across the business.”
He said a rigorous promotion process each year would bring in new partners.
Colliers also has an LLP structure, and many of the agents in the past were set up on an LLP model.
