2021 was a monumental, record-breaking year in the Legal industry. The lingering global pandemic and various financial conditions saturated certain areas of the Midwest Legal market, providing an uptick for talent both in the Private Practice and In-House sectors. It is without a doubt that businesses and their directors are navigating new, unfamiliar business-critical matters as they start to recover and relaunch from the clutches of the pandemic. Business across every sector have altered the way they conduct work and attorneys, both In-House and Private Practice, have pivoted slightly with their hiring practices – upon returning to ‘normal’, albeit it an incremental pace, hiring managers were forced to provide flexibility for remote work. With respect to interview and hiring formats, businesses continue to interview and onboard new associate hires remotely, going above and beyond to welcome new hires into their Legal departments. In a recent article from Legal500.com, Corporate, M&A, and Finance are ranked as the spaces with the highest levels of growth in the industry. Let’s take a deep dive into the strongest spaces across the Legal market:
Corporate, M&A, & Finance
The need for Corporate talent is at an all-time-high, with firms offering up to $200,000 as a sign-on bonus to win over Corporate-Transactions associates and others providing fully remote opportunities.
Many attorneys who are considering a move are able to take advantage of highly competitive offers and the opportunity to diversify their experience in this particular space, whilst simultaneously seeking new challenges that will define their future.
Cybersecurity, Privacy, & Information Security
As always, the tech industry continues to evolve. With this in mind, Cybersecurity, Privacy, & Information Security are on the rise. Specifically, companies are dealing with significant cybersecurity matters and data breaches. This is a key area to keep a close eye on with the emerging technology trends in the market.
Labor & Employment
With a high number of Labor and Employment changes compounded by the pandemic, the need for Employment Law attorneys has spiked across the Midwest and the nation at large. In an effort to keep employees safe, many businesses have implemented new workplace safety protocols.
Over 100 new Labor and Employment laws and ordinances will take effect starting in July, as well as November 2021. Many companies and firms alike are getting ahead of this by growing their L&E teams.
If you or anyone in your network is interested in a potential transition or is looking to grow your legal workforce in 2021, contact the Larson Maddox specialist team for a confidential discussion.