There has been a lot of press recently about the rebounding market for home sales. For many years now, buyers have had their choice of multiple options and could afford to take their time in making the best selection. Negotiations have been heavily favored towards buyers as well. Times are changing though and what once was a buyer’s market has started to shift to a level playing field. This is a good analogy for hiring in the legal market, which is also going through a significant shift.
We all know good lawyers who could not find work the past few years because of the limited number of job opportunities. Employers have literally been inundated with applicants, even without an actual posting. Employers have their choice of candidates and had the luxury of time and supply to be choosey. Now we are starting to see many more job openings for lawyers in a variety of practices. Some needs are in areas that have been neglected the past few years so there may only be handful of qualified candidates in the market.
This is all good news for those seeking employment and generally a positive sign for our legal market in general. The biggest adjustment must come from employers who are starting to see stiff competition with others for good candidates. A rash decision is never a good idea but taking too much time in the hiring process can steer candidates in another direction. Likewise, employers may be forced to cast a slightly wider net when considering qualifications for a candidate.
We have seen significant shifts in hiring before and undoubtedly it will happen again. The key is being able to spot and adjust to the shift in order to stay ahead of the competition to attract the best people.