The demand for lawyers in the UK legal profession currently outstrips supply tilting the market strongly in the candidates’ favour.
Earlier this year, 2,500 legal jobs with Top 100 firms were advertised on LinkedIn, but 48% of those jobs had no candidates apply, leaving the positions unfilled.
The competition to recruit has caused salaries to rocket by 10% to 15% or even higher in some cases as law firms compete against each other. Many smaller law firms won’t be able to match salaries offered by larger firms, so how can smaller firms compete in the current recruitment market?
In this article Ian Hopkins Senior Associate Consultant with cpm21 provides advice on steps smaller firms can take to improve their chances of successfully recruiting.
In my experience a lawyer will say he/she is “busy,” but such statements should be forensically examined. How is the lawyer performing against matter related and total time targets? What does the utilization rate look like?
Recruitment should only proceed where the lawyer is approaching full utilization and there is a clear plan in place as to where the additional work needed for the recruit will come from.
The alternative is that you will increase overhead and existing capacity further and reduce your overall profitability.
Career progression schemes can be put in place with minimal cost and be of real benefit to the business both in recruiting and retaining staff.
For some candidates, its only about the money but for many it’s not. By following the above steps smaller firms will give themselves a better chance of recruiting and retaining the partners of tomorrow.
If you would like to discuss any of the issues in this article please contact Ian Hopkins, Wayne Williams, or Paul Jones of cpm21.
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