Latest findings from our TBD Marketing jobs report show that law firms are becoming reluctant to use LinkedIn for recruitment, and are instead turning back to the ‘old fashioned’ job advertisements on their own websites.
Ten years ago if you’d have come across a perfect data set that everyone had access to without the need of employing a CRM executive to do the number crunching, you would have leapt at that chance.
Today, it exists in the form of LinkedIn, but recent statistics show law firms still aren’t using it to its best advantage, with almost a quarter of the top 100 firms currently advertising zero jobs on the platform.
The key findings
The statistics show that total roles of the top 100 law firms advertised on LinkedIn is down 22.63% compared to six months ago, yet the total applicants is up 79.04% and applications per job is up a whopping 114.96%.
We also found that the top 100 firms have grown headcount by 3.75% since January. Collectively, they have added the same headcount as one whole Freshfields Bruckhaus Deringer. With Weightmans taking the title of the fastest growing firm in the UK – up 12.29% – as a result of both its merger and renewed push on hiring.
In terms of law firm leaders, Pinsent Masons is advertising the most jobs, whilst BCLP gets the most applicants per job and is the only firm with the perfect record of at least one applicant for every job it’s advertised.
When it comes to Magic Circle firms the findings show that they are advertising fewer jobs than in January, down 16.56% but they have grown faster than the rest of the market, up by 4.29%. In fact, the Magic Circle has grown by 1,125 employees since January – the equivalent of adding Mishcon de Reya to the ranks.
Why are law firms turning their backs on LinkedIn for recruitment?
Founder of TBD Marketing, Simon Marshall says:
“My guess would be that many firms have given LinkedIn a try, but have failed to attract the talent they’re looking for through the platform.
“That’s a real shame as, when used properly, even the free version can deliver extraordinary results. Pretty much everyone who works in professional services is on the platform and using the right language, job specs and approach can deliver eight to ten times as many applicants as other routes.
“We’ve had some major recent successes with roles for both lawyers and professionals attracting dozens of applicants within hours of launch.
“Weightmans used this process and they went from 0.11 applicants per job to 11 applicants per job, and they’ve grown the most as a firm over the past six months.”
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