Approximately one-quarter, or 26 percent , of lawyers interviewed for a recent survey believed that their firm or company will be adding legal jobs in the first half of 2015. “Sixty percent of lawyers said they expect to only fill vacant posts, while 7 percent said they would neither fill vacant positions nor create new ones. Just 1 percent of respondents anticipate staff reductions in the next six months.”
The survey asked participants which practice areas they felt will yield the most job opportunities in 2015. Litigation what at the top of the list with 36 percent of responses, general business/commercial law was second with 14 percent, and Real Estate was third with 9 percent.
In order to meet client demands and expand profitability of practice groups, law firms are making strategic hires. It is apparent that legal departments are seeking compliance, contract administration, and commercial law experts to meet the rising need for business-related legal services.
One major challenge that was cited by 50 percent of lawyers surveyed was the challenge of finding skilled legal professionals. Candidates with expertise in key areas of practice receive multiple job offers and counteroffers. One important factor for attracting top talent is not only competitive salary, but also benefits that meet today’s multi-generational workforce’s needs for work-life balance.