Published in the New York Law Journal
By: Ioana Good
The culture of every organization is constantly changing, but perhaps never more so than in the last two years as businesses adapt to new ways of collaborating, recruiting, and retaining people. While sometimes difficult to measure, an organization’s culture forms an identity that ultimately contributes to growth, or conversely, recession. This year, hundreds of people from the legal industry came together in beautiful Savannah, Georgia, to attend the LMASE 2022 conference. The event centered around creating a culture that brings success both within a firm and with clients.
It’s no surprise that companies are struggling to recruit and retain talent. MIT Sloan Management Review, which analyzed 34 million employees, uncovered that most leave due to poor culture. They found that a toxic corporate culture is the single best predictor of which companies suffered from high attrition in the first six months of the Great Resignation. The failure to appreciate high performers through formal and informal recognition is another element of culture that predicts erosion.
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