Looking for a New Niche? Consider Employment Law in Tough Times
People always need lawyers, but in tough economic times you have to figure out which group of people need legal services and can still afford them.
Problems with job retention and continued high unemployment rates make employment law one of those areas that continues to boom. Labor and employment law is one of the few areas to see consistent gains over the last 18 months, reports the ABA Journal.
Knowing which clients to target is only half the battle. If you can find a way to sell your legal services for these clients, then drawing in new business could be relatively easy.
Common employment issues include wage and hour disputes, pension problems, wrongful termination, and non-compete lawsuits. Stronger business regulations mean company owners may need more advice as well.
Even if you aren't already working in employment law or business advising, you may be able to branch out to help these clients in specific areas.
Skilled negotiators and lawyers with administrative law experience would do well to consider taking on wage and hour disputes. Pension issues and wrongful termination claims often go to trial, so experienced litigators could offer their services too.
Once you know how you can provide a service to these clients, make sure they know about it. Update your website, attend local events, and create a marketing strategy to reach out to this new client base.
As a practice area, employment law tends to run counter to the current economic cycle, according to The Washington Post. When times are economically hard, people are more likely to turn to legal resources to protect themselves. When times are good, people are more satisfied with their jobs or able to land new jobs when fired.
The economy hasn't fully recovered but, it appears to be on the upswing. That means it's not necessarily a good time to switch over to employment and labor law exclusively. But it might be a good time to add these areas to your repertoire.
When you're feeling the pinch and your client pool is drying up, always consider the group that still needs lawyers and see if your expertise fits into what they need.
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