Why is Manchester the place to be?
Everybody knows that everything is cheaper up North- so it makes sense that companies are making use of this by sending some of their work this way. In recent years we have seen several international law firms entering the Manchester market and the question is; Is Manchester a City to invest in, or is it generally an opportunity to save money?
Data suggests that it was here in Manchester that saw the highest square footage of office space taken for the legal sector in 2017, and this isn’t surprising considering the number of new entrants, and the general rate of expansion of local firms here.
Over the past few years there has been a noticeable increase in people from different cities wanting to work here in Manchester. At one time, if someone was going to relocate for work it was to work in London, now people are viewing Manchester as a more appealing option- they are following the reputation- excellent quality of work and excellent quality of life- not to mention the affordability.
Since June 2016 Brexit has been lingering, however many firms in Manchester haven’t necessarily experienced any adverse effect as of yet and, overall, business is booming. Firms are seeing excellent results and, in most areas, seeing a rise in instructions, transactions and profits.
However, one thing that is clear here in Manchester currently is that competition is fierce. Firms can’t afford to lose people- it leaves a gap in their team and a lot of work to be picked up- not to mention the time, effort and cost that goes into finding a replacement. That said, Manchester now has more options than ever, and people are more open to making a move, whether that be for more money, better quality work, or a better work-life balance. So what does this mean for Manchester?
Manchester overall has seen an increase in market level salaries and many firms are making changes to make themselves more appealing. A big thing at present is flexibility, whether that be flexible working or remote working, this is something which many firms are moving towards to keep in line with, (or ahead) of competitors. Another key aspect is quality of work- Manchester has some key players and excellent lawyers and we are finding that people are being exposed to a range of interesting and complex work, even from the early stages of their career.
Generally, firms in Manchester no longer have their choice of people, people have their choice of firm, and that is what makes Manchester the place to be!
If you are thinking about what options you may have, or would just value a chat about your market, contact Kiah Winterbottom on firstname.lastname@example.org.