Addleshaws scores perfect 100 per cent retention rate

Addleshaw Goddard has revealed a 100 per cent retention rate for its March 2013 new qualifiers.

All five trainees will stay at the firm and will work in Addleshaws’ offices in Leeds, London and Manchester.

Last September the firm retained 27 of 32 trainees, a rate of 84 per cent.

The firm has slimmed down this year, it cut 24 fee-earners in August citing that a surplus of managing associate and legal director level staff were stopping more junior staff moving up the ranks.

Its redundancies accompanied a 30 per cent rise in profit, 37 per cent rise in proft per equity partner and 5 per cent rise in turnover. Its highest paid partner received a profit share of £592,789 in 2011/12, up by nearly 27 per cent on the previous year’s top payout of £467,580.

It launched offices in Singapore and Dubai last year, which should mean more work will be international. In the 2011-2012 financial year only 20 per cent of work was from international sources.

Gundip Judge, resourcing manager, said: “We are delighted that all trainees have accepted positions at the firm. This is testimony to the standard of trainees, and the firm’s ongoing commitment to attract, retain and develop talented people.”

Last week, Norton Rose announced its retention rate ahead of its US merger (1 February 2012).