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Mentoring Is Good For Law Firm Profitability
Introduction
As a first year associate at a large law firm, I once asked a very successful junior partner the secret to his success. His response ' also the title to a Harvard Business Review article ' was: “Everyone who makes it has a mentor.” That's when I noticed that he did indeed have a mentor ' a close working relationship with a very senior partner, who taught him how to achieve success in a law firm environment. Now, as a legal search consultant, I find that mentors are an increasingly important part of law firm life. Mentors boost overall firm profitability by helping associates ' among the firm's most valuable resources ' succeed. In fact, associates with long-term mentors are more likely to make it to the coveted partnership ranks. Thus, mentoring improves recruiting, aids in associate retention, and can ' if properly utilized ' promote workplace diversity. Simply put, firms with successful mentoring programs can gain material marketplace advantages.
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