In-House Legal Job Market Update December 2023 through Video

Transcript:

Hello. This is Andrew Murdoch from Dovetail Legal Solutions with the December in-house legal job market update. Over the past two months, the market has shifted significantly.

There are fewer jobs coming onto the market. This has also been borne out by the data we’re seeing from organisations like Seek have recorded that there’s a 20% drop in job advertisements between now and this time last year, and 5% of that drop has occurred over the past month.

Additionally, data showing the number of organisations that are looking to recruit over the next three months, it’s 11% lower now than what it was this time last year.

So what does the change job market mean, and how can you adapt to it? I have three key takeaways.

Firstly, if you’re thinking about changing jobs, allow longer to do so. If you thought it was going to take you two months to find a new job, perhaps now allow four. With fewer opportunities, there’s just less chance of you finding that ideal role.

Additionally, despite what you read in the media, December and January are exceptionally busy times for the job market. Clients are looking to onboard people for the end of the year so they can start fresh in the new year. And people are looking to recruit at the beginning of the year with budgets reset from the first of Jan.

The second takeaway is is that if you’re feeling frustrated by not being able to move externally for change, try and create that change within your current role. Have the discussions with your stakeholders internally, the CEO, your manager, and see what you can do to change your role, perhaps take on new projects look to upscale, and if you’re looking for a pay rise, perhaps you could ask for that internally. And if they don’t have money on the table, there are other forms of currency that you can ask for; additional leave, management, a title change. So think about creating the change internally.

The third takeaway is if money is your prime motivator and you’re not able to get the uplift you’re looking for internally, don’t expect the massive increases that we’ve seen previously in changing jobs.Companies no longer have the budgets and no longer need to pay, a premium to attract new talent for their roles.

If you’d like to talk more about your career options or finding someone for your team, please give us a call at Dovetail Legal Solutions. And if we don’t get an opportunity to speak beforehand, I hope you have a relaxing Christmas break, and I look forward to talking in the New Year.