Apr

16

Assistant Retention

April 16, 2007 | Leave a Comment

James Baxter of Legal Business writes “As our annual survey finds, the biggest firms are now losing 25% of their assistants each year.

He points out that

once recruiter fees, partner time spent interviewing, integration and training costs are accounted for, the cost of an assistant resigning is close to an entire year’s salary for the departee.

If you factor in the price of the bumper pay and bonus round, secured at the very height of the buyout boom earlier this year, and it is not hard to see how slack talent management can strip millions off a firm’s bottom line.

This continues to point to a need for a shift in thinking by the law firms in respect of staff retention. The ideas of flexible working or contracting is becoming a popular way of ensuing that the right talent is available at the right time for the right price.


Comments

You must be logged in to post a comment.

Name (required)

Email (required)

Website

Speak your mind