Do BigLaw managing partners see their worlds differently?

Do BigLaw managing partners see their world differently? invites Dialogue readers to share their experiences and views on the extent to which BigLaw leaders align with and differ from C-suite executives in corporations.

The Conference Board recently published The Future-Ready Organization reporting how CEOs and C-suite executives are thinking about the next few years and their vision for how their organisations will thrive in 2025 and beyond.

What’s your view about BigLaw?

In brief, here’s what the Conference Board has to say.

“When senior executives paint the picture of what the organisation of the future looks like, what emerges is an archetype of a company that puts the customer at the centre, reshapes the way we work, and achieves the elusive balance between short-term goals and long-term vision. Reaching this ideal requires a comprehensive, holistic approach. In this year’s C-Suite ChallengeTM survey, CEOs and C-suite executives outline their concerns about what lies ahead and their vision for how their organizations will thrive in 2025 and beyond.

External impacts. CEOs are bracing for a turbulent business environment in the short run. Although our economic indicators do not point to imminent recession risks (the UK being one notable exception), global CEOs nevertheless indicated this is their top concern in the coming year, closely followed by disruption of global trade systems and global political instability. There is little faith this external turbulence can be contained by the traditional levers of power—public policy and political institutions. Among the top concerns of CEOs globally, especially in Europe, Latin America, and the United States, is declining trust in these institutions.

Internal concerns. Talent, disruptive technologies, and managing costs keep CEOs up at night. Talent is CEOs’ top internal hot-button issue for the coming year. While cost control also reemerges as a critical issue, the impact of digital technologies is clearly being felt within organizations as an urgent need to reexamine current business models.”

Eight juicy thought-starters

  1. In a slowing global economy, ROI from digital transformation is a burning platform
  2. Customers place a higher value on the experience of using a product than on the product itself; enhancing “the experience” (CX) is the way to future success
  3. Lack of skilled talent is one of the few obstacles to innovation that will get worse, not better, by 2025
  4. Developing the next generation of leaders is critical to future success, but is there enough emphasis on developing digital skills?
  5. The sustainable enterprise of the future centres on talent and value creation
  6. Why is so little being done about the gender pay gap?
  7. Lack of work/life balance is a critical reason women opt out of management
  8. Teams should be a centrepiece of human capital strategy but rewards are still dominantly for individuals.

Food for thought, to say the least!

 

Posted by on Nov 28, 2019 in BigLaw firms, Leadership | 0 comments

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