Indeed, a major consequence as reported widely in the legal press is that there is a new national pay standard. Associates we interview are interested in that standard and these perks, certainly. But when they tell us their needs and detail the reasons they ignore our headhunter's call, we find there are a combination of factors that keep them in their chairs and billing hours. Despite partner moanings that associates want only top of the market salaries and expensive benefits in order to stay around, not all associates place those goodies at the top of the list. Associates want to stay financially competitive with their peers at the market rates for their city, but the relationship between money and retention needs to be carefully examined.
Money is important and it gets talked about a lot because it is easy to quantify.
Other equally important issues are much tougher to deal with. Give me an instant thanks which is heartfelt. Don't make me wait for the politely written thank you that comes out six months later in a mid-year review. Regular feedback not only guides my daily performance but also is the backbone for developing future skills and characteristics that allow me to progress in the firm. Keep letting me grow.