It’s an exciting time to be a legal professional. Currently, the trend for many legal professionals seems to be changing jobs for better pay and benefits. In the 2022 Report on the State of the Legal Market by the Thomson Reuters Institute and the Georgetown Law Center, the firms they surveyed reported an astounding associate turnover rate of 23.2%.
So, with legal departments struggling to retain skilled talent, what does that mean for you? In addition to negotiating leverage for new jobs, it also may mean opportunities for upskilling and reskilling in your current position—which may result in more responsibility and greater compensation! So, whether you’re looking to start a legal career, or move up to a better position, it’s important to make yourself as marketable as possible to a potential employer.
Highlight the right skills.
The competition for skilled legal talent is as fierce as ever. However, hiring managers are looking for very specific skill sets. Tech skills are clearly in high demand. In fact, in our 2022 Compensation & Workforce Trends Survey, 42% of hiring managers said they planned to expand legal tech departments in 2022.
Additionally, since the pandemic, legal firms and departments have found it increasingly difficult to find candidates with the following skills, so consider highlighting these on your job applications, as well:
- 40% Financial management
- 39% Adaptivity/creativity
- 36% Leadership
Consider staying at your current job to learn new skills.
Yes, there are job openings out there, but your current employer may also give you an opportunity to learn new skills and, in turn, earn a promotion.
- 55% of hiring managers say they plan to close the skills gap by identifying and upskilling high potential employees within their organizations
- 46% say they plan to reskill current employees to be redeployed
Be prepared to act fast.
If you do decide to pursue a new job, be ready for a fast-paced hiring process. In our 2022 Compensation & Workforce Trends Survey, employers told us that legal firms and departments are hiring—and hiring quickly.
- 56% are increasing virtual screening/interviews to speed up hiring.
Want additional insights to help you make the most informed career decisions? Download our 2022 Legal Career Guide now.
Ready for your next great opportunity? Search jobs today >
2022 Compensation & Workforce Trends Survey Methodology
LHH Recruitment Solutions in partnership with Allison+Partners surveyed 1,405 hiring decision makers in the U.S. The survey was hosted in Qualtrics and panel was sourced from Lucid and Currant Fielding Solutions. Fielding was conducted in late 2021.