In a recent article published in The American Lawyer, What It Costs When Talent Walks Out the Door, author, Paola Cecchi-Dimeglio, goes on to explain her years of findings when it comes to the best practices for attracting, retaining and promoting women leaders at elite firms.
Some findings include:
- It costs more money to replace your stars than you probably think.
- To replace top female talent, it takes months longer and costs more (as a percentage of salary) than it does to woo top male talent.
- Keeping star lawyers, especially female stars, satisfied at your firm should be a business priority, given the colossal cost of replacing them and the accompanying disruption to business performance. Yet for too many firms, it’s not.