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A lawyer remarked to me the other day “thank god for the banking crises – at least we’re not the most unpopular profession!”
Now imagine the surprise on seeing that the poor legal profession are suffering so much that many big firms are paying graduates to not take up their training contracts but are being paid a small sum to defer for one year.
I am surprised that all professions still see the turning off of the tap for new recruits as a sensible approach to their businesses.
I am now weathering my third recession (I know the picture makes it look like I can’t possibly be!) and each time the first area that one sees slashed is the intake of the fresh blood that will be the fee earners of the future.
What then happens is when we come out of recession there is a shortage of trained professionals able to take up the mantle. This has the consequent knock on that those who have managed to get trained are able to move and transfer at inflated salaries, often unjustified. But it is all a question of supply and demand.
So if we do find to manage our way out off of this helter skelter of a recession then please let all the professions realise that nothing has been learned and we are already stoking the fire for the next boom of inadequate numbers of qualified staff to cope or be of a suitable standard.
Also we ought to think about the youth and their needs and demands and give them the leg up they need.
06 Mar 2009 11:19:41