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the secret to retaining talent

The key to our business is attracting, training and retaining talent. It is the whole ball game.

So why is it that our talented associates and partners don’t just quit for a better offer?  Indeed at major law firms, associates routinely quit within the first 2 to 4 years, yet ours do not and we think we know the reason.  Our attrition has always been, and remains, exceptionally low.  Why is this?

We believe there are quite a few reasons that our attorneys and administrative personnel stay with the Firm:

  1. The legal work at the Pure Play in Real Estate is without par anywhere except a very few competitor law firms, and almost none of our competition permits the full training of lawyers for representation throughout the capital stack.  We work on cutting edge matters and our lawyers get to work on the most challenging and sophisticated matters.  

  2. As we say, “we are not in the law business – we are in lawyer business.”  This is because we are “about” creating careers for our lawyers. In this regard, for those building careers in the real estate world, whether as lawyers or with an eventual plan to go into the business world, the connections that can be made here are without par anywhere.

  3. For both lawyers and administrative personnel, the training is exceptional.  More about Training Talent >

  4. The culture is just great.  We are a fun place to work.  People have a good time.  

  5. For those who are believers in our Values and Hedgehog Principle, there is no better place to work. They are in harmony with a group that shares these same values and principles.  

  6. We make partners of associates based on their quality rather than “a numbers game.”  This gives talented associates the likelihood of a long-term future with the Firm, as opposed to the expectation that their careers will end in an unsuccessful attempt to “make partner.”  

  7. For partners we push hard to create business opportunities for both our partners and our partners’ clients.  This is an outgrowth of the concept of being in the lawyer business – we are creating opportunities and enhanced careers for our partners.  In the Recruiting Section, there are testimonials from all of the partners who have joined the Firm laterally in recent years. All attest to the commitment of Firm management to help both them and their clients build their careers and businesses. 

  8. When the chips are down we do everything possible to avoid terminating personnel.  We have had two severe downturns in the demand for our legal services during the life of the Firm.  In each situation, our business fell on difficult times.  Each time this occurred we went out of our way to avoid firing people and tried to keep the entire team together.  This fostered a great sense of loyalty and commitment.

  9. We go out of our way to treat people well.  Indeed, our values state clearly that “employees are entitled to respect.”  For example, we will not put up with a big rainmaker abusing associates.  A big rainmaker who acted in this fashion would first find his/her compensation reduced and ultimately would need to find a home at another law firm more tolerant of this type of behavior, as we will not stand for it.

  10. Oh yes, we pay very well.  First through third year associates are scheduled to earn more than almost all lawyers at major law firms. For more senior associates we generally match so-called BigLaw market.  Finally, for partners we are as profitable as all but a very few of the major law firms. 

Due to our exceptional reputation, headhunters typically swarm like locusts around our highly-trained associates and partners, yet we are proud that attrition continues to be extremely low.  Associates rarely leave and the Firm has not lost a single partner in over four years.  This means we are succeeding in our mission to “attract, train and retain talent.”

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