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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.
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Yachts, Jets, Horses & Hooch: Specialized Commercial Leasing Models
Defining commercial real estate asset class is essentially a property explaining how it identifies — not necessarily what its original intention was or what others think it ought to be. This article discusses, from a general issue-spot and contextual analysis perspective, how lawyers ought to think about specialized leasing formats and the regulatory backdrops that may inform what the documentation needs to contain for compliance purposes.
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Risks and Ad Fraud Protection In Digital Advertising
The ever-evolving digital marketing landscape, coupled with the industry-wide adoption of programmatic advertising, poses a significant threat to the effectiveness and integrity of digital advertising campaigns. This article explores various risks to digital advertising from pixel stuffing and ad stacking to domain spoofing and bots. It will also explore what should be done to ensure ad fraud protection and improve effectiveness.
Turning Business Development Plans Into Reality
This article offers practical insights and best practices to navigate the path from roadmap to rainmaking, ensuring your business development efforts are not just sporadic bursts of activity, but an integrated part of your daily success.