updated on 04 November 2021
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US law firm Stephenson Harwood LLP a has introduced a ‘salary sacrifice’ scheme to attract talented junior lawyers, which will enable lawyers at the firm to drive away in an electric vehicle.
This incentive comes amid the pay war between City firms, with many increasing uncapped bonuses and enticing talented lawyers with pay packages worth more than £100,000.
Stephenson Harwood said that from next year its employees would be offered a “salary sacrifice” scheme to “drive away in any electric vehicle from a Tesla to a Vauxhall Corsa.” They are currently the only law firm to offer this type of e-car perk.
The firm introduced As the firm works with aviation, shipping and rail clients, it wanted “to help them keep goods moving in a sustainable way that aligns with the Cop26 goals.”
Law firms are seizing the opportunity to be at the forefront of environmental, social and governance (ESG) developments, for example, magic circle law firm Linklaters LLP has set ‘science-based targets’ and has committed to halving its carbon emissions by 2030. Similarly, Clifford Chance LLP offers ESG services to bring 197 countries to stabilise “emissions of greenhouse gases” in a COP26 summit.
Electric vehicles are just one of the many benefits being thrown at City lawyers; this year Cooley LLP announced all staff were entitled to £45,000 for fertility treatment, while Clifford Chance provides fertility treatment for its staff up to a cost of £15,000.