ORRICK — MEMO RE: NEWS ON MAKE WHOLES
Team: With our October results showing continuing solid client demand, we have decided to move up our review of the salary make whole program. We are very happy to share with you that we are now restoring all 2020 base compensation for associates and staff for the period of April through October 1 (when our prospective salary restoration went into effect).
These make wholes will be reflected in your November 30 paycheck and will cover whatever period is outstanding for you. For those of you on a partial FTE, you of course will be restored on a pro-rated basis.
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We hope this provides some stress relief. We are also very aware of the additional, extraordinary fatigue and anxiety felt by those of us who are family caretakers (i.e., for children or elderly parents living in your home) and cannot take advantage of outside or in-home care services due to high risk factors for Covid-19 complications. In the hope of providing some relief to those facing this burden, we are introducing a special program, available through the end of Q1 2021, where you may elect to work an 80% schedule at full compensation for up to three months. We understand that this does not solve the problem, but we hope it provides some meaningful help, particularly as the coronavirus battle heads into a new phase across our country. Siobhan and her team will host an information session later this week to provide further details.
Finally, we know that many of you are working incredible hours to provide exceptional service to our clients and have the backs of colleagues juggling caretaker and other demands. We want to reiterate that we will at least match last year’s bonus scale and take into consideration this year’s circumstances and market developments.
We are also pleased to fully and retroactively restore all staff who worked full-time this year – again ahead of our originally announced schedule.
We deeply appreciate your patience this year. We know we have the best team in the business — and we asked a lot of you as we sought to navigate this unpredictable year. We will continue to focus on ensuring we do everything in our power to protect our team and set up a successful 2021 and beyond.
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Please reach out to Siobhan, Carolyn Bortner or any member of the Talent team for details or questions.
Stay safe and thank you.
Mitch
Staci Zaretsky is a senior editor at Above the Law, where she’s worked since 2011. She’d love to hear from you, so please feel free to email her with any tips, questions, comments, or critiques. You can follow her on Twitter or connect with her on LinkedIn.