This article appeared in Law Firm Partnership & Benefits Report, an ALM publication for policy-setters: Managing Partners, Law Firm Administrators, Human Resources Directors, Benefits Administrators. Visit the website to learn more.

Law firms invest significant time, trust, resources and energy into their associates. At times, an associate's frustration may be obvious and, as a result, his or her firm isn't surprised to learn that person is leaving. However, when a seemingly happy and successful associate announces the decision to move on, his or her firm can be left feeling shocked and confused. Many clients have reached out to us for insight behind these moves and what they can do to make their top associates want to stay.

In their 2017 Update on Associate Attrition, the National Association of Legal Placement (NALP) surveyed 128 law firms across the United States and Canada to pinpoint the top reasons associates leave. Anecdotally, as legal recruiters, we see strong patterns as well. The good news is that, according to the survey, overall associate attrition went down in 2016, dropping to 16% on average across firms of all sizes. However, on average, for every 25 new associates hired, 17 other associates left last year.

The cost of losing an associate can average $200,000 to $500,000 considering recruiting and training costs, the price of a resource shortage, administrative and human resource man hours, and other factors. Equally impactful is the potential effect of an associate's departure on firm morale and reputation. High turnover, or perceived high turnover, can ultimately hinder a firm's ability to continue recruiting top talent.