Fortune’s Post

“The role of the general counsel is to manage #risk, ensure #compliance with laws and regulations, and protect the company from potential #litigation. Chief #diversity officers, on the other hand, are largely focused on implementing and championing efforts that attract, retain, and tangibly advance diverse #talent. While their respective directives aren’t mutually exclusive—and compliance is a key facet of the CDO role—chief legal officers are likelier to err on the side of caution, potentially hampering diversity heads’ ability to effect change—and do so swiftly… 57% of CDOs say their organization is defining metrics for DEI #progress, while just 19% of CLOs say the same. In yet another gap, 89% of diversity heads say their organization’s DEI plans and goals are clear, while 69% of corporate lawyers agree their company has well-defined DEI strategies… Today’s corporate attorneys are increasingly involved in the creation and implementation of #DEI initiatives, and they’re dissuading diversity practitioners from what they consider to be thornier and more legally fraught programs, such as diversity-based incentives like bonuses based on representation targets, fellowships for specific demographics, or performance reviews that include criteria related to DEI performance and results. According to a survey from Littler, organizations are reverting to more straightforward initiatives such as implicit bias training and other educational resources, which, while they can be useful, are not always as effective in driving immediate and patent progress.” All excerpts and #data by Ruth Umoh in this Fortune article below. #leadership #education #law #equity #inclusion #business #strategy #policy #practice #impact #investing #assetmanagement #money #cultureofmoney

Why are diversity, inclusion and belonging (DIB) policies so crucial to a healthy law firm culture? In this free extract from our forthcoming Special Report, ‘Culture in Law Firms: Best Practices for Engagement and Retention in a Hybrid World’, Naomi Beard Nelson, Mary Ellen Connerty, and Michelle Egan explore the continued need for robust DIB policies, with deep disparities still persisting in law firms. Head to our website to read the full chapter for free: https://lnkd.in/e6DWrk7S ‘Culture in Law Firms’ examines the effects of the rapid shift to hybrid working in law firms, explores post-pandemic law firm management trends, and explains how law firm leaders can cultivate strong bonds within the firm and with clients, as well as retain and engage top talent. To achieve this, the authors believe that firms must intentionally evolve their cultures, paying attention to key levers including new styles of leading and communicating, managing change, understanding generational differences, and integrating belonging and wellbeing into business strategies. Use code ‘VFC25' to claim your 25% pre-publication discount: https://lnkd.in/eqUm9RuQ

The anti-DEI movement is pitting general counsels against chief diversity officers Despite some highly vocal backlash, most CEOs and diversity officers say their companies have not pulled back on their prioritization of DEI. Still, they cite concerns over legal liability and increased collaboration with and oversight from their general counsels. According to a survey from Littler, organizations are reverting to more straightforward initiatives such as implicit bias training and other educational resources, which, while they can be useful, are not always as effective in driving immediate and patent progress. Read more in the #RaceAhead newsletter: https://lnkd.in/eyR5F_i6

🌟 Exciting News! 🌟 🔥 5 Effective Strategies For Law Firms To Foster Diversity And Inclusion 🔥 👉 As the legal landscape evolves, it’s crucial for law firms to embrace diversity and create an inclusive environment. Our latest blog post dives deep into proven strategies that empower law firms to champion diversity, drive innovation, and build stronger teams. 💪 🙌 Contributors: Steven Mostyn, MBA, Jonathan Rosenfeld, Timothy A., Michael Hurwitz, and Hunter Garnett. 🔗 Read the full article here: https://lnkd.in/dQzzKVCG 🚀 Let’s create a more inclusive legal world together! 🌎 #DiversityAndInclusion #LegalIndustry #LawFirms #InclusiveLeadership #Empowerment #Equity #ChangeMakers #LegalProfession #Innovation #TeamBuilding

There has been a significant rise in demand for Diversity, Equity, and Inclusion (DEI) legal specialists in the corporate sector, particularly among Fortune 500 companies. Companies are actively seeking these specialists to reevaluate and adapt their DEI programs in light of recent legal developments and societal pressures. The number of companies requesting audits and legal advice is increasing to ensure their DEI initiatives align with evolving legal standards while minimising litigation risks. Companies face a dual challenge of addressing backlash against DEI initiatives whilst adapting to an uncertain legal landscape, underscoring the need for transparent and legally sound DEI policies and processes. JD Journal - The Changing Landscape of Corporate Diversity, Equity, and Inclusion Programs - https://lnkd.in/exH2ZkCe #dei #diversity #equity #inclusion #litigation #policy #process #fortune500 #society #socialequity #socialequality

📢 "If I was sitting around my law firm, trying to decide how to make life better for my associates, and how to make it inclusive and equitable, and if I want my associates to stay – tackle work assignments." Absolutely spot-on from Diversity Lab's Caren Ulrich Stacy, speaking during the Diversity in Law 2024 Webinar, courtesy of Leopard Solutions. During the webinar, we learned that just 31% of those surveyed agree that work at their firm is allocated fairly. Perceptions of bias – that the best work seems to be going to the same people, preventing others from getting on in their careers – persist in law firms, and research shows this tends to disadvantage underrepresented lawyers. In almost all cases, this bias is unconscious. That's why Caren suggests that law firm work allocators try to shift to "slow thinking", to take a pause in their breathless days to consider whether their first choice for a task is the most suitable person for it, or if they may simply have been the first person to come to mind when "thinking fast". 💡 It's a brilliant suggestion, founded in psychological research. Interrupting our hard-wired biases can result in more optimal decisions. In work allocation, that boosts productivity, profits, and – most importantly for your diverse associates – perceptions that juniors belong to a culture in which anyone and everyone can thrive. 📧 For the latest research and reports on the goings-on at law firms, sign up to our weekly Legal Digest newsletter. Link in the comments ⬇

Weekly take: Law firm leaders must call out bias https://lnkd.in/eA7GMjXE Partners and other senior leaders must step up if they want diverse talent at their firms to thrive #weeklytake #lawfirmbias #diversity #ipstrategy

𝗦𝗵𝗼𝘂𝗹𝗱 𝗹𝗮𝘄 𝗳𝗶𝗿𝗺𝘀 𝗵𝗶𝗿𝗲 𝗯𝗮𝘀𝗲𝗱 𝗼𝗻 𝗱𝗶𝘃𝗲𝗿𝘀𝗶𝘁𝘆 𝗾𝘂𝗼𝘁𝗮𝘀? 𝗗𝗶𝘃𝗲 𝗶𝗻𝘁𝗼 𝘁𝗵𝗲 𝗱𝗲𝗯𝗮𝘁𝗲 𝗼𝗻 𝘄𝗵𝗲𝘁𝗵𝗲𝗿 𝗽𝗿𝗶𝗼𝗿𝗶𝘁𝗶𝘇𝗶𝗻𝗴 𝗱𝗶𝘃𝗲𝗿𝘀𝗶𝘁𝘆 𝘁𝗮𝗿𝗴𝗲𝘁𝘀 𝗰𝗼𝗺𝗽𝗿𝗼𝗺𝗶𝘀𝗲𝘀 𝗼𝗻 𝗺𝗲𝗿𝗶𝘁 𝗼𝗿 𝘀𝘁𝗿𝗲𝗻𝗴𝘁𝗵𝗲𝗻𝘀 𝘁𝗵𝗲 𝗹𝗲𝗴𝗮𝗹 𝗽𝗿𝗼𝗳𝗲𝘀𝘀𝗶𝗼𝗻. The topic of diversity quotas in law firms is highly debated. Some argue that quotas ensure representation and equity, fostering a more diverse and inclusive workplace. Others fear that it might compromise merit, prioritizing numbers over qualifications. 𝗞𝗲𝘆 𝗣𝗼𝗶𝗻𝘁𝘀 𝘁𝗼 𝗖𝗼𝗻𝘀𝗶𝗱𝗲𝗿: 1. 𝗨𝗻𝗱𝗲𝗿𝘀𝘁𝗮𝗻𝗱𝗶𝗻𝗴 𝗗𝗶𝘃𝗲𝗿𝘀𝗶𝘁𝘆 𝗚𝗼𝗮𝗹𝘀 - What are the objectives of implementing diversity quotas? It’s not just about filling a quota but enriching the firm’s culture and perspective. 2. 𝗠𝗲𝗿𝗶𝘁 𝗮𝗻𝗱 𝗗𝗶𝘃𝗲𝗿𝘀𝗶𝘁𝘆 - Can we redefine merit to include diverse experiences and backgrounds as competitive advantages? 3. 𝗜𝗺𝗽𝗮𝗰𝘁 𝗼𝗻 𝘁𝗵𝗲 𝗟𝗲𝗴𝗮𝗹 𝗣𝗿𝗼𝗳𝗲𝘀𝘀𝗶𝗼𝗻 - How does increasing diversity within law firms affect their service quality, client relations, and overall industry standards?     I’ve seen firms successfully integrate diversity goals without compromising on talent quality. These firms are often at the forefront of innovation, bringing varied perspectives that enhance their legal strategies and client solutions. This debate isn’t just about quotas; it’s about how we value different experiences and backgrounds in the legal field. What’s your take? Does prioritizing diversity strengthen our profession, or does it challenge the merit-based traditions of law? 𝗝𝗼𝗶𝗻 𝘁𝗵𝗲 𝗰𝗼𝗻𝘃𝗲𝗿𝘀𝗮𝘁𝗶𝗼𝗻 𝗮𝗻𝗱 𝘀𝗵𝗮𝗿𝗲 𝘆𝗼𝘂𝗿 𝗶𝗻𝘀𝗶𝗴𝗵𝘁𝘀. 𝗟𝗲𝘁’𝘀 𝗰𝗵𝗮𝗹𝗹𝗲𝗻𝗴𝗲 𝘁𝗵𝗲 𝗻𝗼𝗿𝗺𝘀 𝘁𝗼𝗴𝗲𝘁𝗵𝗲𝗿 𝘁𝗼 𝗯𝘂𝗶𝗹𝗱 𝗮 𝗺𝗼𝗿𝗲 𝗶𝗻𝗰𝗹𝘂𝘀𝗶𝘃𝗲 𝗹𝗲𝗴𝗮𝗹 𝗶𝗻𝗱𝘂𝘀𝘁𝗿𝘆. #DiversityInLaw #LegalIndustry #LawFirmCulture #InclusiveExcellence #LegalEthics #ProfessionalDevelopment #DiversityAndInclusion

Balancing Diversity Improvements and Client Expectations: Our law firm recognizes that fostering diversity is not only a matter of fairness but also a key factor in delivering exceptional legal services to our clients. We believe that a diverse team brings a wide range of perspectives, skills, and innovative solutions, which ultimately benefits our clients, especially in complex and nuanced legal matters. However, we also understand that clients have high expectations when it comes to efficiency, expertise, and outcomes. To balance these priorities, we are committed to creating an inclusive work environment that attracts and retains top talent from diverse backgrounds. We offer equal opportunities for career advancement, mentorship, and professional growth, which helps build a team with a broad range of viewpoints and experiences. This diversity strengthens our ability to understand the unique needs of each client, particularly in areas like Intellectual Property, Arbitration, and cross-border disputes, where cultural and legal sensitivities can play a crucial role in achieving successful outcomes. At the same time, we ensure that our diversity initiatives do not compromise the quality or speed of service that our clients expect. We integrate diversity into our hiring, training, and teamwork processes without losing sight of the core goal of delivering exceptional legal advice. Our firm’s dedication to diversity enhances, rather than detracts from, our ability to meet and exceed client expectations by fostering creativity, innovation, and a deeper understanding of the challenges that both local and international businesses face.