The Coronavirus is having an immense impact on our lives. Every facet of society has been affected and the legal industry, much like any other, is still finding its feet.
Firms have all reacted to the pressure in their own way, with some seemingly brushing it off as a temporary hindrance and others having to resort to redundancy and dramatic pay reductions to ride out the storm. Most sit somewhere in the middle with the option to furlough being utilised where possible and Partner remunerations taking a hit.
With the lockdown in full effect and an inescapable downturn in the economy, no practice area is left unaffected. However, there is a light at the end of the tunnel – in that there will be a level of predictability when it comes to certain areas of law. When the world starts turning again, so too does the transactional work, the litigation, the business development. For many firms, their main issue is not whether they will benefit from an uptake in business once normality resumes, it is how they survive up until that point.
One practice that remains strong and tends to gather momentum in situations such as this is Employment Law. Previous recessions have shown it to be almost economy proof and even with the element of litigation temporarily taken away, the need for advice and support from employers and employees is ever present. As companies seek to reposition themselves in their market, they inevitably look to their staff and with the new government furlough scheme being taken by up to 9 million people, employment lawyers tell me that their expertise and knowledge is being called upon more so than ever before.
Of the many firms with an Employment Practice that I have contacted during this crisis, all of them have witnessed an uplift in demand, whether they have been Magic Circle, US or smaller regionals. A number of those firms have decided to proactively recruit within those teams to cope with this uplift and expect the rise in demand to be exponential once litigation can resume and the associated corporate cogs start to turn again.
This unique situation that we are all in has forced everyone to adapt in some way or another. Law firms are no different, but as always there are some more affected than others and people like Employment Lawyers now find themselves in a market that is surprisingly buoyant and could present options for career progression that may not have otherwise existed.
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We take the time to understand your individual requirements and what you want from your next position and will match you with a role and law firm that suits your needs.