It's no secret that the job market for law firms is competitive, and with the recession in full swing, it has become even more difficult to find a position.
With so many people out of work or underemployed, competition for jobs at these prestigious firms is getting fierce. One senior partner at a top London law firm said:
"We're really struggling to fill our vacancies."
This also makes the competition tougher because now firms have to offer these options to attract top talent.
What will the legal landscape look like in six months? It's hard to say, but one thing is for sure: law firms will continue to compete for talented lawyers by offering better pay and flexible working arrangements. Lawyers who can stand out from the competition will be those with strong communication skills, an ability to think outside the box.
Law firms are beginning to see the benefits of remote and hybrid working. With the option to work from home or in a satellite office, lawyers have more choices when it comes to finding the right law firm for them. This is good news for lawyers who want to find a position that fits their lifestyle and needs.
Law firms are looking to several ways to help with this recruitment shortfall, we have pointed out 3 key areas:
- Some law firms have started using social media more often and are now posting job postings on Twitter, LinkedIn even Instagram.
- Other companies are turning to recruitment agencies or head-hunters for help with filling vacant positions at their firms. However, this has proved a costly exercise for several law firms.
- It's not just London - there's also a nationwide problem with finding qualified lawyers across the country, which will only get worse as time goes on because demand will continue increasing while supply decreases due to retirement rates.
Another aspect to look at is the fact some lawyers no longer want to make partner, the cost to become a partner in a law firm outweighs the work-life balance the lawyer of tomorrow is looking for.
To combat this, some firms are turning to other positions that have a more manageable work-life balance, such as in-house lawyer jobs or legal consultant roles.
This is great news for those who are looking to start their career in law - there are plenty of opportunities out there and the competition is only going to get tougher. So, make sure you stand out from the crowd and polish your skills!