Contrary to popular belief, there are some positive changes in the legal community occurring. Many of my clients are reporting that they are slowly seeing things start to move again, which is a great sign that the market is gradually picking back up. There are still many top law firms raising salaries and hiring partners.
Over the past six to eight months, we have seen a major shift in the mindset of attorneys within the legal community. Many attorneys have been humbled by this market and have had to completely change their focus in life. For example, depleted retirement accounts are changing career plans for many senior partner-level attorneys. My candidates report that, contrary to their lives a year ago, they have a newfound appreciation for living practically and within their means. They report that their priorities have shifted and satisfaction in their career is now strongly dependent on a feeling of security, stability and benefits to protect their families. There is a new perspective. This shift in the legal community represents what will be a slow shift in the thinking in the business world as a whole. Change, although daunting, is a plus in the long term. Change will spark innovative and new ways of thinking in the legal market, which should have interesting and positive ramifications, especially when the market inevitably picks up.
Many of the firms we work with report that their clients are demanding discounts due to the squeeze the economy is putting on them. Some of these clients have even been willing to switch firms, in order to achieve these lower rates. In turn, many firms are being greatly affected, and have had to change their focus and parameters in order to meet these client demands. We understand the demands this market and clients have put on your firm. We remain willing to work with your firm by negotiating reasonable fees for our services in order to continue to provide you with the most talented legal professionals in the market.
This time of change and new perspective is a great opportunity for firms to initiate growth, make innovative changes to their firm environment, and capitalize on this market. We look forward to assisting you in realizing these opportunities.
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