Counter-offers are back in fashion in the recruitment market after being shelved for the past 18 months. “The war for talent is over, and the candidates have won!” is what some have declared, but according to one legal recruiter, that’s going a little too far.
Doron Paluch, director of Burgess Paluch Legal Recruitment, said that while the statement may be an over-generalisation, it nonetheless reflects current market sentiment. “The job market has improved substantially in the past nine months, and the talent pool remains tight,” he said. “[But] it’s too dramatic and general [a statement] to say that candidates have won the war.”
While top lawyers are being ‘courted’ both by existing employers and outside parties, Paluch says those who accept a counter offer often leave within a short period of time. “A substantial percentage of lawyers who accept counter-offers end up leaving their original firm within 18 months,” he said. Statistics on exactly how often counter-offers are made are hard to come by, but according to a number of legal recruiters, the majority leave within three to six months.
According to Paluch, the trend can be attributed to counter-offers often including promises from firms that are not ultimately carried through. Those faced with a counter-offer need to consider a couple of things, including the nature of their work environment, work-flow, supervising partner and prospects for promotion. Lawyers need to ask themselves whether the counter-offer will give them greater responsibility in their role or will add to their skill-set. If the answer is no in both cases, Paluch says it is best for the lawyer to start afresh in a new environment.
He notes that it’s important for job seekers not to change roles too often. “If a lawyer changes jobs every 12 months, law firms and companies will not have confidence that the lawyer will last for any extended period in a new role,” Paluch says.
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