The Texas Lawbook asked Russell Newhouse, founding Principal of Newhouse + Noblin, Legal and Executive Search, about what trends the firm is seeing headed into 2025. Newhouse offered several observations from recent conversations with leaders of corporate legal departments. Below is a summary of what we learned:
Certainty is a Good Thing for Hiring
In-house legal hiring was more tentative in 2024 than in recent years, presumably due in part to market uncertainty leading up to the elections in November. Whether it was the specific election results or simply the certainty any election brings, the market has quickly responded with a measurable increase in hiring activity post-election. Newhouse reports the number of new searches launching and incoming client calls to plan Q1 hires have nearly doubled post-election.
Houston is Hot
While the firm is seeing an upward trend across the board, Newhouse + Noblin’s Houston office has been swamped with new in-house search activity post-election and they see no slowdown in sight. Newhouse reports “increased search activity from traditional oil and gas clients, including the LNG space.”
Commercial Real Estate Activity on the Rise
Newhouse reports a significant increase since this past summer in attorney searches for commercial real estate clients. “From local developers to national REITs, we are seeing increased optimism and activity,” according to Newhouse. All indicators point to commercial real estate fundamentals improving throughout 2025.
M&A Remains Not Hot, but …
While the U.S. M&A market saw modest growth in 2024 versus 2023, thanks to the initial easing of interest rate policy, Texas deal activity benefited from continuing consolidation in the energy sector. Even so, Newhouse observed a general “hold-steady” approach to staffing up with additional M&A attorney hires (both in-house and at law firms), but he expects that to change in 2025. “Everything we are hearing from our clients and from their outside counsel is that 2025 could be a booming year for deal activity.”
Compliance and Regulatory Roles
Businesses have never faced more regulation, so it is no surprise that Newhouse + Noblin routinely helps clients fill a variety of compliance and regulatory roles, from general corporate compliance to data privacy to industry specific regulation. Even with an incoming Trump administration expected to reduce regulation, this is an area of need that remains active even in different economic cycles.
Flexibility and Hybrid Work Models
Last but not least, one of the first questions asked by candidates, but which may be an ever-decreasing priority for employers, is remote work. The trend, which was forced during 2020 and expanding in 2021 and 2022 as a retention tool, appears to be falling out of favor with most employers. For those who still embrace it, offering remote work flexibility (even if just a couple days per week) remains a significant perk to candidates assessing the pros and cons of competing positions.