Retaining talent and attention: Why goodwill is both an appreciating and depreciating asset

Goodwill in law firms is a dynamic asset that can either appreciate or depreciate over time. While firms often rely on brand or compensation to retain talent, true goodwill is built through everyday actions—clear communication, fair growth opportunities, mentorship, and recognition. When consistently reinforced, it strengthens engagement and retention. When neglected, it quietly erodes, leading to disengagement and exits. The core point is that retention depends less on intent and more on sustained, trust-building behaviour within the firm.

Authors: Jogesh Sharma and Muskan Aggarwal

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