It’s A Funny Old Time
November 2, 2009 by Damian
It’s a funny old time in the world of recruitment at the moment. There is definitely more of a sense of optimism around and for the first time in quite a while, there have even been a number of options for junior lawyers. I have recently met quite a few younger lawyers who, after sticking things out for the annus horribilus that has been 2009, have said ‘stuff this, I’m off to London’.
Whether it is the onset of summer, the prospect of a new year which will hopefully bring a new beginning or just people being fed up with being pessimistic about things, it seems that the tide has turned and to borrow a phrase from one of Ireland’s most over-rated performers D:REAM – “things can only get better.”
So with this in mind, I opened up the latest edition of (the very good) NZ Lawyer magazine to see who was advertising, only to find a total of 3 job advertisements in the whole edition. Back in the heady days of 2006 and 2007, there probably would have been 20-30 and it seemed as if the whole publication was one big recruitment fest with some articles thrown in to break up the ads.
Historically, Seek would have 300-400 legal jobs. As I sit here now, it has 223 legal jobs in NZ, quite a number of which are different agencies advertising the same job. (Yes, we do do that!)
So where is the truth? Is it getting better or worse?
My opinion, which I’ve outlined in earlier posts, is that the worst is behind us. I believe that people will start moving jobs, if only because they are sick, sore and tired of what they are currently doing. This will create some fluidity in the market which will result in the current stagnant market unraveling somewhat. Hopefully in conjunction with this, the law firms will feel confident enough to start making some positive hiring decisions and will be considering how they should be staffing up in anticipation of the wave of people who will leave these shores when the overseas markets pick up.
However, it will be a slow process. Employers will (and should) exercise caution for the foreseeable future and it will take a long time until the NZ Lawyer carries 20/30 job ads and Seek carries 400 jobs. The reality of the situation is that it will be the candidates from the larger firms or those with the broadest experience or best academic records who will secure the first number of jobs that come on to the market. It is only when these people are comfortably ensconced in new roles, should the the rest of the profession be confident of finding something new.
The first 3 months of 2010 will probably still be pretty quiet. The second quarter, I feel, will set the tone for the rest of the year, one way or the other.
It is a funny old time indeed!
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