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Ed. observe: Welcome to our every day characteristic, Quote of the Day.
The final three years has taught companies some fairly laborious classes in regard to go about increase the affiliate ranks. They grew at an exponential charge in 2021 and, as work went down, they now not wanted the variety of attorneys that they’d.
If you happen to have a look at all the components at play—that company work is down, compensation elevated—all of this stuff collectively simply leads to lateral hiring simply being very conservative.
— Summer season Eberhard, a California-based authorized recruiter at Lateral Hyperlink, in feedback given to Bloomberg Law on new report by the Nationwide Affiliation for Legislation Placement, which concluded that lateral hiring had fallen by 35% over the course of 2023, with affiliate hiring nosediving by 43%, whereas companion hiring dropped by 10%.
Staci Zaretsky is a senior editor at Above the Legislation, the place she’s labored since 2011. She’d love to listen to from you, so please be happy to email her with any ideas, questions, feedback, or critiques. You may comply with her on Twitter and Threads or join together with her on LinkedIn.
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