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Barriers between lawyers and non-lawyers will be broken down, organizations will resort to layoffs after the pandemic’s hiring spree, and pay transparency and salaries will be aligned. These have been selected as Top Practices for Legal Trends 2023 by Maverick Search Consulting, a top law firm practice staffing consultancy.
Maverick’s experts have successfully placed hundreds of professionals who have seen first-hand the changes in the way job seekers evaluate their careers and new opportunities.
“As we look into the new year, the talent market remains tight and competitive, with demand for business professionals who support and expand the work of lawyers very high,” said CEO Ren Tucker. “When we work with companies to understand their key business challenges, we expect these five trends to emerge.”
Break down barriers between lawyers and non-lawyers: The Diversity, Equity, Inclusion and Belonging (DEIB) program is an important component and remains a top consideration for companies looking to maintain a productive and positive workplace culture – and this will continue in 2023.
Maverick predicts that companies that recognize the critical contributions of business people will thrive in the coming year.
Pro tip: Make sure business people participate in more customer-facing activities and are treated as equal group members.
future office space: Since March 2020, law firms have found themselves at the vanguard of finding alternative workplace models and solutions to serve the post-pandemic working population. Maverick predicts that companies will continue to restructure inefficient office spaces to reflect a flexible, hybrid work culture with more hotel accommodations. As a result, we expect to see an increase in hiring of workplace experience professionals to ensure the return to the office in 2023 is as engaging and seamless as possible. Additionally, space will remain a top priority for companies heading into the new year, leveraging technology to provide data-backed insights into how it is most effectively used.
Layoffs after pandemic hiring spree: “Early in the pandemic, we saw executive levels shrink and firms restructure outdated roles, such as secretarial staff, in response to a drop in demand for office support as the world goes virtual.” Additionally, many U.S. law firms Firms continue their hiring spree through the end of 2021 to keep pace with record global M&A activity worth more than $5.9 trillion. However, as transactional work slows in 2022 and demand for legal services falls overall, Maverick predicts further layoffs of lawyers, paralegals and business staff at firms that overhire during the pandemic.
“Unfortunately, when the macroeconomic environment deteriorates, companies tend to cut salaries for business people before turning to lawyers,” said Benjamin Field, managing director of business development and client relations. “While this reflects economic realities, it also reflects a certain point of view – that business people are still not seen as directly contributing to the company’s success.”
Compensation Transparency and Compensation Consistency: Maverick predicts that more companies will continue to hire for positions in states with pay transparency laws, which will lead to increased equity after the initial pay squeeze period. “Future employees will have greater access to salary information, and over time historical data will empower them to negotiate salary. In this case, of course, information is power,” Tucker said.
Wholesale business personnel team transfer is still rare: While there has been talk in the industry of a possible increase in wholesale team departures following the transfer of marketing and business development teams from Cooley to Fried Frank in 2022, we believe this is unlikely to develop into a trend in 2023. The ingredients necessary for this to happen—among other things, mature teams of employees who enjoy working together and charismatic leaders who engender that kind of loyalty—are rare.
Pro Tip: To help reduce the unlikely transfer of entire teams, a key part of the “belonging” equation involves continuing to find ways to attract and develop business workforce leadership in key departments, including HR, Finance, Pricing, Technology, Marketing and Business Development– trade arab news agency
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