|
KEY
FINDINGS NEWSLETTER |
|
Winter
1999/2000 Issue |
Law Firms
Fighting Costly Turnover
In America’s 250 largest law firms, an average of 18% of associates left
their firm during 1999. This translates to one attorney walking out every 15
billable minutes. Some law firms experiencing these high attrition rates are
responding with successful measures such as awarding large longevity
bonuses, sabbaticals and improved part-time policies. Mentoring programs
geared to help newer associates have also proven useful in reducing
turnover.
How can these firms justify the expense of these
programs? Losing one midlevel associate can cost between $200,000 and
$250,000. Proponents also point out that these programs increase morale,
assist in recruiting and lead to better client service.
The Best Online Toy Stores The competition among online toy stores has brought good things to consumers who
like the speed and convenience of this shopping alternative. The top 10
stores with the best selection, price, service, usability, presentation and
features according to e-Marketer magazine are listed below.
Top Ten Online Toy Stores
- eToys
- KBKids
- Toysmart
- SmarterKids
- ZanyBrainy
- WorldsBestToys
- Toys ‘R’ Us
- FAO Schwarz
- Toytime
- Netoy
Most Trusted Sources of Healthcare Information
According to a Reader’s Digest survey, doctors top the list of the most trusted
sources of healthcare information. The following chart shows how other
sources fared.

Effective Sales Promotions
According to the Marketing Science Institute, sales promotions offer consumers hedonic
and/or utilitarian benefits. Hedonic benefits include things such as
enhancement of self-esteem, stimulation and entertainment. Utilitarian
benefits include savings, quality and convenience. When promoting
utilitarian products such as photographic film and garbage bags, monetary
promotions (discounts, rebates) are more effective than non-monetary
promotions (free gifts, sweepstakes). Non-monetary promotions are most
effective when promoting hedonic products such as ice cream and champagne.
Nine Stages of Philanthropy
According to Independent Sector, philanthropists go through nine stages of giving.
Givers typically begin by donating just enough to satisfy the solicitor and
end their giving with bequests upon their death. The chart below describes
each of these nine stages.
|
Stage |
Description |
| 1. |
* |
Minimal response |
Giving just enough to satisfy
the solicitor |
| 2. |
|
Involvement and interest |
Increased giving |
| 3. |
|
As much as possible |
What is seen as the most that they can give |
| 4. |
|
Maximum allowable |
Tax effects are taken into consideration |
| 5. |
|
Beyond the max |
When donor does not worry if the
donation is tax deductible |
| 6. |
|
Percentage of wealth |
Based on income or accumulated wealth |
| 7. |
|
Capping wealth |
When giving to charity is more
important than increasing wealth |
| 8. |
|
Reducing the cap |
Giving away one’s wealth |
| 9. |
|
Bequests |
Based on will or other provisions at death |
Americans Take Control of Their Healthcare
Almost seven in 10 American adults have been more active in controlling their
health during the past five years than they were previously. Most (58%) have
used one or more alternative treatments in the past two years, compared to
26% in 1997. Twenty-five percent have used three or more different
alternative treatments. Of those who try alternative medicine, one-half say
they do so because traditional treatments are not working for them.
Juror Attitudes Affected by Prior Jury Experience
Recent research shows that those who have served as jurors before are less likely
to be prejudiced, less skeptical about the jury system and more willing to
be fair in reviewing the case information than people who have never been a
juror. This may be because serving as a juror changes a person’s views or
because attorneys are effective at excusing closed-minded individuals during
the jury selection process.
View Comparison of Prior Jurors to Non-Jurors
|
Prior Juror |
Never a Juror |
|
When
the defendant does not testify, the juror thinks
“the defendant has something to hide” |
31% |
41% |
| Recent
school shootings makes the juror “more likely
to convict a juvenile charged as an adult” |
32% |
50% |
| In
light of police brutality and racial profiling, the juror
is “less likely to believe a police officer” |
15% |
25% |
Patients Want E-Health Information
The number of Internet health users increased 45% from last year to reach 24.8
million adults as of July 1999. One-half of all online users say they would
like to use a web site operated by their own doctor’s office, but only 9%
are aware that their doctor has a site.
About 29% of online health users who are interested in using a doctor’s web site
said they would be likely to switch to a doctor who has a web site.
Thirty-three percent who are interested in e-mailing their doctors said they
would be likely to switch to a doctor who uses e-mail. Seventy-four percent
of all online health users say they would be more likely to trust a web site
recommended by their doctor or pharmacist.
Minority Presence in Legal Industry
About 28% of the American population is black, Hispanic, Asian or another
minority. However, only 2% of the Fortune 500’s top lawyers and only 9% of
all attorneys on corporate legal staffs are members of a minority. The
picture in law firms is comparable. A 1998 survey of the 250 largest firms
showed only 3% of partners and 13% of associates as members of a minority.
Online Shoppers Abandon Cart
A recent survey shows that 75% of online consumers abandon the shopping
process before completing their purchase. Twenty-four percent say they
thought the shipping and handling charges were too high; 31% said they just
changed their mind.
Of those who went on to complete the sales process, 74% said they were very
satisfied with their purchase.
Online Shoppers' Behavior After Abandoning Cart
| Did not make a purchase at all |
39% |
| Bought item from competitor |
26% |
| Bought item offline
|
18% |
| Bought item later at site |
17% |
Source: BizRate/NPD Group
Prospective Home Buyers Seek Better Information
Prospective home buyers say they are unhappy with the information available to them.
Some don’t think they are seeing all the homes available in their price
range and complain about how difficult it is to find detailed information
about the homes they are interested in buying. The chart below lists the top
fears of homeowners and renters who are planning to buy a home in the next
year.
Prospective Home Buyers’ Fears
- Hidden / unknown costs
- No control over the real estate process
- Lack of information on financing options
- No objective resource on the real estate process
- Confusing terminology
Most Felons Plead Guilty; Many Set Free
According to the Bureau of Justice Statistics, state courts convicted 997,970 adults
of felonies during 1996. Thirty-five percent of these were for drug
offenses, 30% for property offenses, 17% for violent offenses, and 18% for
weapons offenses and non-violent crimes. Only 9% went the trial route; the
other 91% plead guilty. Thirty-one percent received probation without jail
or prison time.
Bullets
- The percentage of crime news reported on local television news
broadcasts dropped from 28% in 1998 to 22% in 1999.
- While the optimum length of nightly sleep for adults is 8 hours,
they typically only get 7 hours. Teenagers get 7.5 hours on average, but
actually require 9.25 hours. This could explain why 44% of Americans make a
habit of sleeping in on weekends.
- Americans think most often of Las Vegas (33%), New Orleans (12%), New York City (12%) and San Francisco (12%) when planning an
indulgent vacation
- Less than 10% of customers regularly give feedback to businesses about
how they are doing.
- Young adults aged 18 to 24 are more likely than persons in other age
groups to read literature and attend non-musical plays, jazz
performances and dance performances. They are also more likely than
others to visit art museums and attend musicals and operas.
- The world’s top five busiest airports are: Atlanta, Chicago
O’Hare, Los Angeles International, London Heathrow and Dallas-Fort
Worth International.
- About 28% of Americans have bowled at least once during the past year.
- Twenty-five percent of women and 12% of men would consider having
cosmetic surgery to improve their appearance.
- Research shows that in 1999, 48.2% of American households owned stocks
or mutual funds, up from 19% in 1983. Three in 10 of these households
acquired equities from employer-sponsored retirement plans. About 35%
own equities outside of these plans.
- One-third of Americans say they believe in ghosts.
- Over one-half (55%) of recipients will take time to examine a
four-color direct mail piece, compared to 17% who look at two-color
pieces and 14% who inspect one-color pieces.
- By age 62, 44% of men and 24% of women still work full time.
- Three out of five Fortune 500 companies hire a general counsel from
outside the company. The person is usually a partner at a large law
firm.
- Three out of five people believe that expert witnesses give the
testimony they are paid for instead of saying what they believe.
- Over 40% of the federal criminal justice provisions enacted since the
Civil War have been enacted during the past 20 years.
- Only 56% of associates in large law firms (firms with over 100
attorneys) said that attaining partnership was an incentive for them. By
gender, 75% seeking partnership were male; 47% female.
- The 34 million American households who have Internet access spend 65
million hours online per day at home.
- Fifty percent of companies with 10 or more employees have a web site.
Only 25% of companies with fewer than 10 employees have one.
- A recent survey shows that 85% of catalogers now have their offerings
online. This includes 79% of catalogs targeting consumers, 71% of
business-to-business catalogs and 94% of catalogs marketing to both
consumers and businesses.
- About one-third of households that own a computer, own more than one.
- During 1998, the average price increase of the 50 most prescribed
drugs for older Americans increased 6.6%, which equates to four times
the rate of inflation. The median profit for drug manufacturers was 20%.
This profit was 4.5 times larger than the median net profit of all
Fortune 500 companies.
- Six percent of Americans say they are vegetarians.
- Most Americans (81% of men and 71% of women) are satisfied with the
way they look according to a recent Gallup survey. However, 17% of men
and 29% of women wish they were more attractive.
- One in six (18%) Americans had difficulty paying medical bills in
1999; 17% say they did not fill at least one prescription because of the
cost.
[Back to Index]
|