The Cravath System

Very interesting:

Here’s how the “Cravath System” works. Bring lots of new employees in, team them up with mentors, provide real work to do, and give them a choice: either get lots of great experience and get out, or work hard for a higher-up position. Whenever you hear someone aspire to “make partner”, he’s undoubtedly working at a firm that’s adopted this model.
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A company with a culture of quitting does not have ex-employees; they have alumni. This is far more than a semantic distinction. An alumni relationship is positive; something that people can take pride in; and one that keeps the door open for further opportunities on both ends.