Law Firm Associate Retention & Professional Development

Tuesday, October 30, 2007

About

How long can you hold on to your associates? And how do you keep your talent pool from leaving? If you're firm is like many, these questions become more and more pressing every day. Attrition rates at law firms are at an all-time high. In the past, associates typically stayed six or seven years before leaving the firm but that is no longer the case. According to a 2005 NALP study, 62% of associates leave their firm by the end of their fourth year of practice - that's well before they've started generating significant revenue for the firm and well before you've amortized the money you've spent to train and recruit them. Even worse, when talented associates leave, this directly impacts your firm's future. These lost associates could be the future rainmakers and leaders of your firm.

How can you solve these retention problems? Tried-and-true solutions, like raising salaries, no longer work. Recent law school graduates now demand more-they want challenging work and work/life balance in addition to a high salary...

The key to improving attorney retention is learning how to give associates what they need while still preserving your firm's business model, satisfying your clients, and maintaining profitability standards.

American Conference Institute's publication from theForum on Associate Retention and Professional Development will help you devise strategies and workable programs to improve associate retention in your firm. Our faculty-comprised of professional development directors, top consultants, and partners from leading law firms-will lead a frank and detailed discussion of the tactics your firm needs to employ to retain and develop the brightest and the best associates. Topics to be covered include:

  • Creating work-life balance programs that accommodates all attorneys without inconveniencing clients
  • Reevaluating your existing mentoring programs-to make sure your firm and associates get the most out of it
  • Enhancing your existing training programs to give associates the skills they need to succeed
  • Developing a strong firm culture-so that associates feel the firm is invested in their future

Contents & Contributors

About

How long can you hold on to your associates? And how do you keep your talent pool from leaving? If you're firm is like many, these questions become more and more pressing every day. Attrition rates at law firms are at an all-time high. In the past, associates typically stayed six or seven years before leaving the firm but that is no longer the case. According to a 2005 NALP study, 62% of associates leave their firm by the end of their fourth year of practice - that's well before they've started generating significant revenue for the firm and well before you've amortized the money you've spent to train and recruit them. Even worse, when talented associates leave, this directly impacts your firm's future. These lost associates could be the future rainmakers and leaders of your firm.

How can you solve these retention problems? Tried-and-true solutions, like raising salaries, no longer work. Recent law school graduates now demand more-they want challenging work and work/life balance in addition to a high salary...

The key to improving attorney retention is learning how to give associates what they need while still preserving your firm's business model, satisfying your clients, and maintaining profitability standards.

American Conference Institute's publication from theForum on Associate Retention and Professional Development will help you devise strategies and workable programs to improve associate retention in your firm. Our faculty-comprised of professional development directors, top consultants, and partners from leading law firms-will lead a frank and detailed discussion of the tactics your firm needs to employ to retain and develop the brightest and the best associates. Topics to be covered include:

  • Creating work-life balance programs that accommodates all attorneys without inconveniencing clients
  • Reevaluating your existing mentoring programs-to make sure your firm and associates get the most out of it
  • Enhancing your existing training programs to give associates the skills they need to succeed
  • Developing a strong firm culture-so that associates feel the firm is invested in their future

Contents & Contributors

IMPROVING ASSOCIATE SATISFACTION AT LARGE LAW FIRMS: THE SOLUTIONS TO AN UNHAPPY SITUATION
Kathy Morris, Sidley Austin LLP

BRIDGING THE GENERATION GAP: RETAINING THE MILLENIAL GENERATION
Madeleine Kershek, Dow Lohnes, PLLC
James R. Lovelace, Pillsbury Winthrop Shaw Pittman, LLP

DEVELOPING A STRONG FIRM CULTURE AND CULTIVATING LOYALTY TO THE FIRM
Lisa Keyes, King & Spalding LLP
Molly Peckman, Dechert LLP

BEST PRACTICES FOR DEVELOPING A TRAINING PROGRAM THAT FACILITATES ATTORNEY DEVELOPMENT
Kay Nash, Wiley Rein LLP

TECHNICAL AND SOFT SKILL TRAINING: TOUCHING ALL OFFICES AND ALL MODES OF DELIVERY
Heather Bock, Ph.D., Howrey LLP
Lori Berman, Ph.D., Howrey LLP
Benjamin R. Opipari, Ph.D., Howrey LLP

PROFESSIONAL DEVELOPMENT AND WORK ASSIGNMENTS
Heather V. Edes, Sullivan & Worcester LLP
Ojen Sirin, Sullivan & Worcester LLP

IMPROVING THE RETENTION OF FEMALE AND DIVERSE ATTORNEYS
Ellen Ostrow, Ph.D., CMC, Lawyers Life Coach, LLC



DOCUMENT TYPES: PRESENTATIONS AVAILABLE: 0