Employee retention should be a top priority for your firm. It is expensive both financially and in terms of lost of productivity to have a revolving door of attorneys coming in and out. According to HR Dive, 75% of the causes of employee turnover are preventable. I speak with unhappy attorneys often and a lot of their complaints and reasons for wanting to leave a firm are things a firm can easily fix. Here are the top 3 reasons associates leave their firms and what you as an employer can do about it.
Many firms believe that taking their time to hire is in their best interests. When there’s no sense of urgency, firms will interview numerous qualified candidates, but take a “grass is greener” approach and decide to continue looking, leaving their first choice candidates in limbo for an indefinite period of time. Taking this approach often means that the top candidates will either lose interest or accept another position before your firm has a chance to make a final decision. This means you are now selecting from the good, but not great, candidates who are still left and interested, inevitably resulting in mediocre hires
The lack of diversity in the legal profession has been a hot button topic for decades now and the industry has recently seen small gains. The National Association of Legal Placement’s 2016 Report on Diversity in U.S. Law Firms reported that the representation of minority associates has continued to increase (from 19.53% to 22.72%) since 2010 following widespread layoffs in 2009. In 2016, minorities accounted for 8.05% of partners in the nation’s major firms. However, minority women continue to be the most underrepresented group of partners at just 2.76%. Despite the small gains in minority representation at both the associate and partnership level, the legal industry still has a long way to go to be considered a diverse industry.