It won’t come as a surprise that whilst the country was in recession the number of organisations recruiting an in-house lawyer fell. Even if there was an actual requirement to grow the legal team, in may cases headcount across the business was frozen due to redundancies occurring in other areas.
The knock on effect in these circumstances is that if there are no new roles arising lawyers stay in their current role for longer, leaving less opportunities for lawyers to progress internally or to back-fill vacant positions.
Thankfully with the economy back on the rise the situation has changed and companies are creating more roles for in-house lawyers. This is especially the case when companies float on the stock market. The NW has seen its share of flotations already in 2014 with the likes of boohoo.com, AO.com and Pets at Home all floating.
All three companies have recruited lawyers as the company was being prepared for flotation. With other listings due to happen, B&M Retail for one, the hope can be that more opportunities will exist for NW based lawyers and in fact in-house lawyer across the UK as more companies look to list.