Despite the assertion from certain politicians that the age of boom and bust was over (I wonder if Gordon Brown ever regrets saying this?), it is clear that the next few years the economy is in for a bit of a ride, to say the least. The legal sector always seems to be more quickly affected than others because of its overwhelming connection to the property market in lots of different ways. Our experience of recruitment is that when the property market booms, law firms’ turnovers increase, regardless of whether or not the firm undertakes property work. Property Market Downturns Do Not Result in Lots of New Candidates There is a property connection in lots of different ways, and in good times recruitment can be very difficult because there are very few staff around looking, and in bad times recruitment works in the opposite way, because anyone good will stay firmly put for fear of losing their job if their new firm gets into difficulty, and anyone who works at a firm ...
Award winning blog with 100s of articles on the legal profession, legal recruitment and legal job markets by Jonathan Fagan, MD of Ten-Percent Legal Recruitment, recruitment consultants based in the UK providing a full range of services for solicitors.