Law.com Subscribers SAVE 30%
Call 855-808-4530 or email [email protected] to receive your discount on a new subscription.
Why Associates Leave and How You Can Get Them to Stay
Law firms invest significant time, trust, resources and energy into their associates. At times, an associate's frustration may be obvious and, as a result, his or her firm isn't surprised to learn that person is leaving. However, when a seemingly happy and successful associate announces the decision to move on, his or her firm can be left feeling shocked and confused. Many clients have reached out to us for insight behind these moves and what they can do to make their top associates want to stay.
In their 2017 Update on Associate Attrition, the National Association of Legal Placement (NALP) surveyed 128 law firms across the United States and Canada to pinpoint the top reasons associates leave. Anecdotally, as legal recruiters, we see strong patterns as well. The good news is that, according to the survey, overall associate attrition went down in 2016, dropping to 16% on average across firms of all sizes. However, on average, for every 25 new associates hired, 17 other associates left last year.
The cost of losing an associate can average $200,000 to $500,000 considering recruiting and training costs, the price of a resource shortage, administrative and human resource man hours, and other factors. Equally impactful is the potential effect of an associate's departure on firm morale and reputation. High turnover, or perceived high turnover, can ultimately hinder a firm's ability to continue recruiting top talent.
This premium content is locked for Entertainment Law & Finance subscribers only
ENJOY UNLIMITED ACCESS TO THE SINGLE SOURCE OF OBJECTIVE LEGAL ANALYSIS, PRACTICAL INSIGHTS, AND NEWS IN ENTERTAINMENT LAW.
- Stay current on the latest information, rulings, regulations, and trends
- Includes practical, must-have information on copyrights, royalties, AI, and more
- Tap into expert guidance from top entertainment lawyers and experts
Already a have an account? Sign In Now Log In Now
For enterprise-wide or corporate acess, please contact Customer Service at [email protected] or 877-256-2473
Major Differences In UK, U.S. Copyright Laws
This article highlights how copyright law in the United Kingdom differs from U.S. copyright law, and points out differences that may be crucial to entertainment and media businesses familiar with U.S law that are interested in operating in the United Kingdom or under UK law. The article also briefly addresses contrasts in UK and U.S. trademark law.
Strategy vs. Tactics: Two Sides of a Difficult Coin
With each successive large-scale cyber attack, it is slowly becoming clear that ransomware attacks are targeting the critical infrastructure of the most powerful country on the planet. Understanding the strategy, and tactics of our opponents, as well as the strategy and the tactics we implement as a response are vital to victory.
The Article 8 Opt In
The Article 8 opt-in election adds an additional layer of complexity to the already labyrinthine rules governing perfection of security interests under the UCC. A lender that is unaware of the nuances created by the opt in (may find its security interest vulnerable to being primed by another party that has taken steps to perfect in a superior manner under the circumstances.
Removing Restrictive Covenants In New York
In Rockwell v. Despart, the New York Supreme Court, Third Department, recently revisited a recurring question: When may a landowner seek judicial removal of a covenant restricting use of her land?