Firms can lose $800k when partners leave

The cost of losing an experienced lawyer has been estimated at between US$400,000 and $800,000 in a new report, 'Assessing Lawyer Traits & Finding a Fit for Success'.
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The report from the Chicago-based Right Profile consultancy concludes that lawyers with ‘higher levels of resilience, empathy, initiative and sociability’ are more likely to leave the law sector than others. Co-founder of Right Profile, Mark Levin, said: ‘The correlation is there, but I don’t know what the answer is. There will, however, always be resilient and social people who stay at firms.’ The findings are based on online assessments taken by 1,432 people. 

Disruption

Looking at the costs issue, Mr Levin said: ‘These are the costs of bringing someone on board, interviewing and vetting them, paying headhunters and the general disruption that occurs when someone leaves.’ Source: Bloomberg

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