The increasing mobility of partners must make any managing partner wonder if there is ever again likely to be any stability in firms. Every week we carry news of the latest defections, and recruitment consultants tell us it is a trend which is escalating rather than abating.
For those firms that have invested time and resources in their departments, the prospect of key people leaving is an alarming one which can disrupt and demoralise those left behind.
Many firms have tried various retention techniques, from bonus schemes to performance related pay and non-contributory pensions schemes. However, the simple truth of the matter is that money does not motivate everyone.
Quality of life is equally important, if not more so. And it is an issue which affects men and women equally as demographic shifts reveal higher numbers of single parents and dual-income family earners in the workforce. Firms are increasingly going to have to grapple with developing arrangements for their employees which fit their lifestyles, while at the same time keeping the main objective – servicing the client – in their sights.