Based on BarkerGilmore’s experience and observations over the past year, as well as insights and opinions gathered from respected legal and compliance professionals, we offer the following market outlook for 2025:
General Counsel Candidate “Soft Skills” Are Now Dealbreakers
The traditional selection criteria for the General Counsel role were based largely on a candidate’s law school, stature of the law firm where (s)he had served, and knowledge of pertinent laws and regulations. Company CEOs and Boards are now far more selective. They’re looking beyond legal credentials and requiring GC candidates to possess impeccable “soft skills,” including business acumen, emotional intelligence, public speaking, and team chemistry.
A solid resume is table stakes for GC candidates, and their potential to serve as a valued strategic advisor and to demonstrate leadership skills are dealbreakers. We’re seeing the same shift in candidate selection priorities applied to the Chief Compliance Officer (CCO) role as well.
New Priorities in GC Selection Will Require Different Tools
This demand for soft skills has made the identification of qualified GC and CCO candidates far more selective. Effective recruitment requires different tools combined with a more sophisticated approach to predict with confidence which candidates have the professional gravitas that will meet the senior management team’s expectations, and the potential for long-term success in a particular corporate culture.
At BarkerGilmore, we will continue to refine our candidate assessment process, which has always valued the importance of understanding a candidate’s emotional intelligence and character. We dig deep to evaluate personal qualities including honest and humility, as well as the ability to listen well and express ideas clearly.
Investment in Talent Development Will Accelerate
Companies are gaining a deeper appreciation for the importance of hiring and nurturing mid-level talent, so those individuals are well-prepared to potentially step into senior leadership roles at some point. This longer-term trend of building internal bench strength is reflected in our firm’s own experience in 2024, as clients increased investment in leadership coaching for both their senior- and mid-level legal and compliance executives. In 2025, companies will continue to value executive coaches with first-hand experience who have “sat in the seat” of GC and CCO positions at blue chip organizations.
Diversity Will Remain a Priority, Despite the Political Environment
Notwithstanding news of some high-profile companies reducing their commitment to DEI programs, our experience over the past year suggests that diversity remains a cornerstone of hiring practices at most companies. Our clients have maintained a strong commitment to building an inclusive workforce and continue to seek from us a diverse slate of qualified candidates.
We expect this trend to continue in 2025 and believe the short-term outlook for the diverse candidate pipeline is strong. However, if the pool of diverse law school applicants continues to decline, the availability of diverse talent is likely to be reduced over the next decade.
The Election and Strong Economy Will Drive GC and CCO Turnover
Two significant macro events will likely shape the legal and compliance talent market in 2025. From an institutional perspective, many companies sat on the recruitment sidelines in early 2024, waiting for a post-election evaluation of the political and economic climate. Post election, most companies are back in the game, bullish on growth, and prepared to expand budgets and staffing at all levels.
From a talent perspective, there are a significant number of GCs and CCOs at or near retirement age who have benefitted from the robust economic environment over the past few years. Many are now prepared financially to step down, and have informed CEOs of their intention to retire. This trend will drive increased turnover in senior-level GC and CCO positions, and also fuel mid-level openings as seasoned talent moves up.
Our Enduring Commitment to You
Regardless of market conditions, BarkerGilmore’s relationship-driven mission has remained the same over the past 20 years. We provide clients with uniquely qualified legal and compliance talent that can drive business growth and provide professionals with career opportunities that improve their lives. We combine our search capabilities with coaching from world class advisors, to ensure the long-term success of clients and talent.
In summary, although 2024 started out on a cautious note given economic and political concerns, the past year ended up on a bright note with significant activity that has not subsided. We expect 2025 to be an extremely busy year and stand ready to support your business and personal goals.
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