There's a lot of talk about the highly sought after "first legal hire" role. Rightfully so - it's an exciting position! But so far this year, I've seen a greater number of 𝘴𝘦𝘤𝘰𝘯𝘥 legal hire roles.
Startups obviously took a beating in 2023. But now that the market is correcting itself, the GCs who toughed it out solo are finally getting the approved headcount for a 2nd hire.
Naturally, it's 𝘴𝘶𝘱𝘦𝘳 tempting to rush into hiring after being solo for so long. But hiring needs to be done with strong & clear intention. Before running to get the first "perfect candidate" you can find, you HAVE to take a step back and evaluate your needs, or you risk an unnecessarily drawn out search and/or quick turnover.
These are 3 big 2nd legal hire trends I've been seeing:
✨ 1: Specialized GCs are bringing on attorneys with completely different skills to balance out the in-house coverage & reduce outside counsel spend. Lots of corporate-focused GCs hiring healthcare/regulatory attorneys.
✨ 2: Generalist GCs are more keen on all-around support. Think more junior versions of themselves who have a solid foundation & a hunger to develop/grow.
✨3: Both types of GCs who are drowning in paperwork and processes are turning to legal ops pros, contracts managers, and/or paralegals. Like I said before - while it can be tempting to chase after the shiny senior attorney, depending on your workload, these can be more efficient & cost-effective hires.
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3moHow good is the market for lawyers who are virtually available to help...? haha