Here is our summary of the current state of the legal job market:
Locum Recruitment – Busy
In the last few weeks in February we experienced a registration of family locum roles like we had never seen before. Yet at the same time we saw a drop in the demand for conveyancing locums, something we were not expecting! So far this week for example we have had just one conveyancing locum role in. There still seems an issue with locums being extremely reluctant to travel and some firms still very reluctant to use remote working lawyers. Litigation roles on the increase. Generally we anticipate a few busy weeks leading up to Easter. Increase in demand for corporate commercial and commercial contract lawyers working remotely, but hourly rates generally lower than they have been for some time due to increased competition.
Locum assignment updates here: https://www.interimlawyers.co.uk/category/locum-solicitor-updates/
Permanent Recruitment – Busy
If I had written this a few weeks ago it would have been different but we are starting to see firms reaching out to recruit permanent staff again. Whether or not they are successful is another matter – lots of lawyers staying put for the time being and holding off from deliberations on taking a new position unless absolutely necessary. Clear that some vacancies are going to stay live for some months to come.. We have seen an uptake in the number of new enquiries about our unlimited recruitment service – details here.
Vacancies can be viewed here: https://ten-percent.co.uk/vacancies/
Law Firms for Sale – Busy
Law firm market still generally very busy. Every firm listed on our website has received an enquiry of some sort since Christmas and although there are still some buyers out there who are looking to take over a practice without paying anything for it, there is still a premium price to be paid for just about every law firm currently listed for sale. Very few distressed sales at the moment. Buyers include groups of solicitors looking to set up, firms seeking expansion by acquisition and larger businesses buying up multiple law firms.
Full list at https://www.jonathanfagan.co.uk/law-accountancy-firms-for-sale/. For a confidential discussion please ring 01824 780937 and speak to Jonathan Fagan or email jbfagan@ten-percent.co.uk.
Ten Percent Legal Recruitment Statistics
General Statistics for February 2021 (comparison is with February 2020)
New permanent vacancies added: 22 (44)
New locum vacancies added: 19 (20)
New candidates registering: 66 (60)
REC/KPMG UK Job Market Report
(we are members of the panel contributing to this report)
Key Findings
Permanent placements decline again
Temp billings expand only modestly
Upturn in candidate availability slows sharply
Demand for staff broadly stable after drop in January
KPMG Vice Chair Comment:
“Business confidence remained subdued in February, with a further drop in permanent appointments and the lingering pandemic uncertainty still evident. The jobs market remains on hold with hiring decisions stalled, people reluctant to seek new roles and the growth in temporary billings has also slowed. However, it’s encouraging that it’s not seeing the big drop in vacancies or hiring that were seen in the first national lockdown. There’s a long way to go to rebuild confidence in the UK jobs market. But with the Covid roadmap to recovery in place and the Chancellor’s Budget announcement to further support businesses and individuals, there is reason for optimism for the UK’s future workforce.”
