‘The best’ [law school] means nothing if associates recruited from [the school] do not work out for your firm. Likewise, if a firm analyzes the exits and entrances over time within one practice area to see the losses – a lot can be inferred about the management style of the practice’s leadership.
NEW YORK (PRWEB) November 19, 2020
Leopard Solutions introduces two new reports and benchmarking tools; the attorney Entrance and Exit Report and the lateral and new hire ROI (return on investment) Report, the latter of which represents the third analytical tool offered as part of the company’s newest endeavor, the Business Intelligence (BI) Suite.
A great many firms pride themselves on their ability to attract the brightest attorneys. What is not often talked about is the significant cost of hiring and onboarding associates and partners only to see them leave the law firm before they can give the firm a good return on their investment. Many firm leaders are just not aware of the real financial burden of unsuccessful hires. The Leopard Solutions ROI Report will provide a cost analysis for law firms and other legal business professionals to understand and ultimately better control the operational expenses of recruiting and hiring attorneys. The ROI Report in the new BI Suite will provide a look at the financial toll attorney exits take on a firm. With this financial insight, law firm business leaders and managing partners can take an introspective look; examine the morale, the culture, and/or onboarding process to plug possible leaks. “The financial aspect of the report is very important as it drives home the value of using data to inform the recruitment process. Understanding that while a particular law school may be ranked as ‘the best’ means nothing if associates recruited from one school or another do not work out for your firm. Likewise, if a firm analyzes the exits and entrances over time within one practice area to see the losses – a lot can be inferred about the management style of the practice’s leadership” said Laura Leopard, CEO of Leopard Solutions.
The Leopard Solutions Firmscape Entrance and Exit Report allow firms to benchmark how successful they are at retaining lateral and entry-level hires against their competition. With this report, law firms can look back and track hires based on when they came on board and how long they were with the law firm. Firms can answer questions such as:
- How do graduates from various law schools perform within the Top 200?
- How do the graduates of a top law school perform at a particular firm?
- What practice areas experience better retention?
The Firmscape Entrance and Exit Report provides both market and single firm analysis. Each report provides great information that helps law firms control the costs associated with attrition. The real cost of losing up to 50% of all associates within three years and understanding what that does to a firm’s profits and the bottom line is the only way to improve hiring practices. To learn more, register for the company's live webinar on, Thursday, November 19, 2020, at 3 PM Eastern | 12 PM Pacific at https://bit.ly/3lGZ2HI.
About Leopard Solutions
Leopard Solutions has been serving the legal industry for nearly 20 years. We began our journey with a single database of New York Associates in 2002 and have grown each year, developing new, cutting-edge products for the entire industry. Our depth of knowledge allows us to create innovative tools and products that directly and favorably impact the success of our clients. We are proud to be a diverse employer and a certified Women’s Business Enterprise.