Your people are the lifeblood of your organization—the foundation on which its success is built. That’s why, in today’s candidate-driven environment, it is critical to hang on to your best legal talent as long as you can. Bright, driven employees are a credit to your organization, contributing to a higher-quality work product and greater productivity. And the longer someone stays with your company, the more valuable they become in terms of knowledge, experience and relationships with your clients and other employees.
On the flip side, employee attrition is expensive. It costs significant time and money to recruit, hire and retain lost talent—as much as 33% of a worker’s annual salary to hire their replacement, according to a 2017 Work Institute Retention Report. And when you’re down an attorney, chances are you’ll have to utilize outside counsel, which increases spend and potentially slows response time. Turnover also affects the performance of your organization. When employees quit, those left behind may have to shoulder the burden of their duties. This can lead to disgruntled employees and a lull in productivity.
This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.
To view this content, please continue to their sites.
Not a Lexis Subscriber?
Subscribe Now
Not a Bloomberg Law Subscriber?
Subscribe Now
LexisNexis® and Bloomberg Law are third party online distributors of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® and Bloomberg Law customers are able to access and use ALM's content, including content from the National Law Journal, The American Lawyer, Legaltech News, The New York Law Journal, and Corporate Counsel, as well as other sources of legal information.
For questions call 1-877-256-2472 or contact us at [email protected]