In many ways, “The Great Resignation” could be called “The Great Reflection.” It is most definitely a candidates’ market – and they want not only more money but more flexibility, happiness and work-life balance.
Companies are losing talent and having trouble replacing their people as other companies swoop in and offer them more incentives.
The remedy to the talent issue that companies are facing seems straightforward: reduce employee attrition by making your firm a more attractive place to stay.
Is it really that hard for law firms to retain and recruit talent today?
Legal intelligence company Leopard Solutions has some eye-opening findings in its recently published 2021 State of the Legal Industry Report, which you can download for free:
During 2021, 14,000 laterals made moves – a number significantly surpassing 2019 and 2020 (which was a weird year of course due to the pandemic)
Leopard Solutions tracked nearly 12,000 job listings during 2021, the highest number its ever seen
Leopard’s research shows that the overall percentage of ethnically diverse attorneys at firms remains virtually unchanged over the last two years. The percent of diverse attorneys in top 200 firms remains seemingly frozen at 17%.
Since 2012 it now takes laterals 61% longer to make partner. For entry-level hires who stay with their original firms, the time to make partner increased by a staggering 136%. Broken down a different way – this is a staggering 3100+ days! It makes more sense to...
The Presidency has dismissed Oyo State Governor Seyi Makinde’s claim that the Federal Government is withholding 250 billion in Nigeria LNG Limited (NLNG) dividends for each state, describing the a...