This report reinforces how essential it is for Major, Lindsey & Africa to continue to provide career-long counsel and opportunities that lead to long-term staying power and success so law firms ‘keep the keepers.'
Hanover, Md. (PRWEB) February 12, 2014
Major, Lindsey & Africa (MLA), the world’s leading legal search firm, today announced its joint project with The NALP Foundation, Keeping the Keepers III: Mobility & Management of Associate Talent, a national study and report of law firm associate hiring and retention from 2006 – 2011. The Report provides detailed findings from more than 22,000 associate hires and more than 17,000 associate departures during a six-year timeframe, in addition to a supplemental survey of 85 law firm administrators to examine hiring sources and identify past and future hiring trends.
“This report reinforces how essential it is for Major, Lindsey & Africa to continue to provide career-long counsel and opportunities that lead to long-term staying power and success so law firms ‘keep the keepers,’” said Simon Robinson, President of Major, Lindsey & Africa. “The findings are proof of the ever-increasing importance that candidates making lateral moves, and law firms employing new lateral hires, must be fully prepared, engaged and invested in a successful placement from all perspectives, therefore assuring mutual contentment and longevity after initial placement.”
Key findings from the national study between 2006-2011 (more than 22,000 associate hires and more than 17,000 associate departures), include:
1. Over one-half of participating firms expect an increase in lateral hiring within the next 24 months.
2. Departures of associates hired at the entry-level outpaced associates hired as laterals.
3. The average rate of associate attrition over the years covered was 17%.
4. Almost three-fourths of all associates who left their positions had tenure of five years or fewer; with highest attrition rates in years two-five.
5. Overall, minority associates left firms with less tenure than non-minority associates.
Key findings from the supplemental survey in Fall 2012 (85 law firm administrators), include:
6. Few firms anticipate changes in recruiting budgets or the number of administrative staff dedicated to recruiting within the next 24 months.
7. Nearly half of all responding law firms reported an increase in alternative career path/non-partner track lawyer recruitment and temporary lawyer recruitment over the past 24 months.
The full report, Keeping the Keepers III: Mobility & Management of Associate Talent, is available for purchase from The NALP Foundation at: http://www.nalpfoundation.org/bookstore.
The Report reflects research results from two initiatives:
1. The first outlines associate hiring and departure data from The NALP Foundation’s 2006-2011Annual Attrition series where a total of 705 completed or partially completed worksheets were gathered from law firms of various size and geographic locations. These findings provide detailed data on more than 22,000 associate hires and more than 17,000 associate departures during a six-year timeframe. The wealth of data collected allows for the tracking of key variables in order to gain insight into associate hiring and departure trends at law firms. Topics addressed include law firm hiring, attrition rates, departure destinations, and the influences that impact entry-level and lateral attrition over time. The law firms and number of firms participating in the annual surveys varied from year to year. The annual attrition studies provide valuable insight into the aggregate data collected from a variety of firms over a six-year span and are not intended to track specific firms.
2. The second research initiative includes a supplemental survey administered during Fall 2012 in order to examine hiring sources and to identify past and future hiring trends. The supplemental survey explored hiring sources, referral incentives, alternative career path opportunities, recruiting efforts, and hiring trends. The findings from the survey outline results from the 85 law firm administrators that completed or partially completed the online survey. The results provide an additional perspective regarding law firm hiring and attrition.
MLA partnered with The NALP Foundation as part of its commitment to industry thought leadership and dissemination of significant information to its recruiting network, both paramount to MLA’s mission and values. The report is the latest edition in the Foundation’s annual Keeping the Keepers series. For nearly two decades, The NALP Foundation has performed comprehensive research on associate retention and attrition in law firms through this series.
“We are pleased to partner with The NALP Foundation to support research and distribute educational findings about law firm associate hiring and retention,” said Kirsten Keegan Vasquez, National Practice Manager, Associate Practice Group for Major, Lindsey & Africa. “Major, Lindsey & Africa will continue to be a reliable thought leader for the legal community as we support efforts to recruit and retain top-of-the-market legal talent.”
MLA undertook sponsorship at the project outset and had no influence over survey questions, or access to individual participant responses. Powered by MLA’s financial support, The NALP Foundation administered all surveys to ensure confidentiality of data. No identifying information is associated with any law firm, or individual, nor was specific response data forwarded to MLA or any other party in any form. All data is reported in the aggregate.
About Major, Lindsey & Africa
Founded in 1982, Major, Lindsey & Africa is the world's largest and most experienced legal search firm. Combining local market knowledge and a global recruiting network, MLA has earned recognition for its track record of successful General Counsel, Corporate Counsel, Partner, Associate and Law Firm Management placements. MLA also rounds out its suite of legal human capital solutions for both law firms and companies by providing highly-specialized, temporary legal staffing solutions. With offices throughout the U.S., Hong Kong, London and Tokyo, MLA recruiters are dedicated to understanding and meeting clients' and candidates' needs while maintaining the highest degree of professionalism and confidentiality. MLA considers every search a diversity search and has been committed to diversity in the law since its inception. For these reasons, MLA has been voted "Best Legal Search Firm in the U.S." in the most recent national survey of National Law Journal readers. To learn more about MLA, please visit http://www.mlaglobal.com.
Lauren Cozzi, Public Relations Manager