Hays Legal
JANUARY - MARCH 2012
Hotspots
The legal market remains relatively consistent with demand for experienced Litigation Lawyers. Commercial Property Solicitors and Employment Lawyers are sought, along with Corporate Lawyers and Banking & Finance Solicitors, particularly at the three to seven years PQE level.
Candidates who have gained this experience within top tier or well regarded mid tier firms are in greater demand for roles both within private practice and in-house.
Small firms continue to be fairly cautious; however more opportunities appear to have arisen within small and mid tier firms over the past several months.
Top New Zealand qualified Lawyers from premier firms are still attractive to international law firms, including those in the UK and the offshore markets of Asia and Australia. The end of last quarter saw a number of young Lawyers make the decision to depart New Zealand to gain experience overseas.
Overcoming skills shortages
Employers are looking at a number of different strategies to address the skills shortage in the market. In particular, some firms are continuing to offer referral bonuses to their staff.
We are also encouraging employers to consider excellent candidates with skills gained overseas who are looking relocate, including those currently here on working holiday visas but looking to remain long term.
Employers are also taking into consideration a candidate's potential and transferrable skills if they are very good candidates but their experience is not an exact match to the role.
The coming quarter
We expect the second half of this quarter to be busier than the first, following on from a large number of law firms closing down for three weeks over the holiday period.
We are not expecting a significant number of new jobs to be created this quarter however a number of firms have indicated that they are likely to be assessing their requirements at some stage this quarter.
Employer trends
Employers continue to be very particular about previous experience and cultural fit in relation to their current teams. Salaries have in general remained fairly consistent; however we have seen employers prepared to offer salaries at the top end of the salary range to attract candidates if positions have been difficult to fill due to location.
Candidate trends
Candidate levels have remained relatively consistent. In previous years and better global economic conditions, we have seen an increase in candidates returning from overseas destinations at this time of year after furthering their career, especially in the UK. But due to the decline in candidates leaving to work in the UK, there have been correspondingly less returning this year.
