The Daily Stat from Harvard Business Review

 

April 9, 2015 A Company’s Failure Rubs Off on Prominent Employees After a prominent San Francisco law firm failed, most of its partners wound up with jobs of lower status in other firms, regardless of their demonstrated productivity, say Christopher I. Rider of Georgetown University and Giacomo Negro of Emory University. The length of tenure in the failed firm had an impact on status loss: A partner with 25 years' service was 20% more likely to suffer status loss than one who had been there nine years. Only graduates of elite law schools were shielded from the status-reduction effect. SOURCE: Organizational Failure and Intraprofessional Status Loss

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