Olswang posts a healthy retention rate after year of growth

Olswang has revealed a retention rate of 78 per cent for its March 2013 newly qualified (NQ) solicitors.

The firm will retain seven of its nine trainees, with five practice groups taking on NQs.

Real estate has recruited three NQs while the competition, corporate, media, communications and technology, and tax teams have all taken on one NQ each.

Olswang CEO David Stewart commented: “Our retention rate, always affected by the need to match internal demand for newly qualified associates to those associates’ preferred choices, is strong.”

Turnover at the firm rose by 17 per cent in the last financial year, making it one of the success stories of the year. In addition it opened an office in Singapore and expanded its overseas workforce.

Standout deals included advising on the sale of BBC Worldwide’s magazine division and the sale of Elisabeth Murdoch’s Shine TV production business.

A spokesperson for the firm said: “Those who haven’t been offered positions with us are being supported with formal outplacement, as well as informal support from HR and partners.”

Last week Addleshaws announced a 100 per cent retention rate and Norton Rose revealed its 76 per cent rate ahead of its merger with US firm Fulbright & Jaworksi.