By Georgie Rylance
The in-house legal job market in 2024 was characterised by its instability and looks likely to remain unsettled into 2025. Though there have been plenty of in-house jobs advertised, we have seen a lot of senior General Counsel losing their positions and unable to find permanent, full-time in-house roles. Thomson Reuters 2024 report on the state of the UK legal market highlighted the “considerable volatility” in spending by buyers of legal services in the UK. Under continued economic pressure, businesses have been focussing on commerciality and controlling costs and have been looking to reduce their legal spend. However, with increasing regulatory scrutiny and a spotlight on Environmental, Social and Governance, they must balance these cost cutting measures with an investment in managing risk.
This is not easy! Recruit a junior resource and you may find yourself spending considerable time and energy getting them up to speed, as well as potentially putting your organisation at risk. Rely on external support, however, and costs can spiral, and you are not guaranteed the consistency of service or the commerciality of an in-house lawyer. So, what are the options?
Maximise legal expertise with flexible senior in-house lawyers
Most businesses would agree that senior lawyers bring a wealth of experience and insight that can significantly impact business growth and operational efficiency. But if as a business you can’t commit to a permanent GC or Head of Legal, there is a way to leverage this expertise without the commitment of a full-time hire.
At TLD, our Client Legal Directors are available on a part-time, retained basis giving you expertise and consistency. You can use access this resource for a time that suits you – typically between two to six days a month.
All our lawyers are highly skilled legal professionals who have honed their craft over many years, developing a deep understanding of complex legal matters. They are adept at navigating the intricacies of commercial law, ensuring that the businesses they support remain compliant while also contributing to their strategy and long-term growth plans.
Mentorship and skill development for junior lawyers
If the business has decided to bring in a junior lawyer to cut costs, you may want to look at ways that you can mitigate the risk of having an inexperienced legal resource in place.
TLD senior lawyers can provide mentorship to junior legal staff on a part-time basis. As seasoned professionals, they can offer guidance and share their wealth of knowledge with less experienced team members. This mentorship can be a crucial component in the professional development of junior lawyers, helping them to develop their skills and understanding of legal best practices. This dynamic fosters a collaborative learning environment that benefits the entire organisation, as junior lawyers grow into more competent and confident professionals.
Plug a gap
If you are in the process of change and ultimately don’t know what your legal resource is going to look like, but the legal needs of the business still need to be addressed, you can bring in a TLD lawyer on an ad-hoc basis or for specific project work. Perhaps you have lost members of your legal team, or you just need some clarity about the legal budget before you can plan a permanent solution. TLD is the perfect solution for this. In her previous role as General Counsel of Ascot Lloyd, Client Legal Director Sarah Houghton drew on the expertise at TLD when she needed extra support and recognises the value of its offering for businesses in flux: “The flexibility of TLD’s business model is invaluable for companies in change, whether this is because of redundancy or reorganisation. Being able to outsource to another senior lawyer gives the business so much confidence and reassurance. There’s no need to spend lengthy time getting them up to speed and the advice they give is commercial and based on years of experience gained in similar environments. To get this without the commitment of a full-time hire is ideal.”
An opportunity for lawyers
As a lot of senior in-house lawyers have been finding themselves out of their permanent positions recently, we are seeing increasing numbers opting for consultancy or fractional work, offering their services on a more flexible, part-time basis. This is partly driven by pragmatism as the lack of permanent senior positions makes finding another job difficult, but also by lawyers seeking a better work-life balance and more variety. As practical, intelligent people, they are finding imaginative ways to thrive in this new climate. A recent starter – James Godbee – joined TLD to do more of the strategic work he likes doing best for a breadth of clients. He was even able to continue working with his former employer in a new capacity. James said: “Bringing my previous employer with me as a TLD client has been a win-win. They have retained my knowledge on ongoing projects, and I have been able to explore new opportunities with a wide range of businesses whilst continuing to work with an organisation that I know inside out. This is the best of both worlds.”
Get in touch
If market volatility is affecting your business and you’d like to discuss what legal resource would be best, contact me on georgina.rylance@thelegaldirector.co.uk or 020 3056 8538. Whether you need a permanent recruit at any level or are interested in finding out more about our fractional legal offering, I can help.
