During a period of uncertainty, many organizations do not increase headcount and recruitment for in-house legal teams is no different. This is also what happened in 2007, at the start of the recession.
What is interesting is that at this point in time, unlike in 2007, the legal interim market and the NewLaw market, is well established. Not only do companies have options at the junior and senior end of the market, they also have options in the way they want to engage with the lawyers.
Do they want just an interim lawyer to undertake a one off project? Do they want someone who is available for placements or projects but also want the opportunity to create a longer term relationship with that lawyer?
The time is ripe for in-house teams looking at resource options to consider the NewLaw market.
The number of total general counsel moves in 2016 decreased by 5 per cent, from 100 job changes to 95. Recruiters point to Brexit as the cause of the dip, the uncertainty of which impacted the first half of 2016; while the last months of 2016 has seen an uptick in moves thanks to the increased demand in mid-level hires and interim placements. “I was really concerned about Brexit,” GMK Legal associate director Liam Taaffe said. “I could foresee that there would be a big issue there. Recruitment dropped off in April last year as we headed towards the Brexit vote. Even those going for jobs aren’t actually moving. The only real vacancies coming up have been mid-level.