Retention rates
2024
Whilst hiring rates are impressive within so many Platform firms, to achieve continuous year-on-year growth, it is vital that retention rates are kept high. The top 10 platform firms have extremely high retention rates over H1, all over 90%. At the end of 2023 retention rates in the top 10 ranged from 80%. Given this data is to the half year point it will be interesting to see how the rest of the year plays out.
“What McCarthy Denning try and focus on is the pedigree, the credentials, and the calibre of the lawyers to try and build, what we term it as, ‘the best of breed practice”
Warren WooldridgeMcCarthy Denning
“If you are a bit more discerning with your recruitment, people that you attract are more loyal. It's a mutually beneficial agreement.”Warren WooldridgeMcCarthy Denning
“People want to feel empowered, they want control of their careers and a fee share environment gives them that control.”Karen BexleyBexley Beaumont
