Why is thought leadership important to a law firm?

Kate Gibbons (KG): For us, it means shaping thinking and being at the cutting edge of the issues that matter to our clients, our wider stakeholders and sometimes even the public at large. It can be anything from engaging with political leaders at the World Economic Forum, to influencing market opinion on a specific area of law or policy. Publications play a role, but it isn’t just about the written word. Thought leadership encompasses all opinion-forming interactions, including seminars, round tables and the resources we offer on our website. It’s about networking, through whichever medium, to share essential insights.

Lynette Williams (LW): Often it is the combination of our insights from around the world that makes us a thought leader. All law firms use knowledge to help their clients. But we stand out as a global organization because we can assemble the best thinking from lawyers who practice in local markets at the forefront of international issues. That’s a real differentiator for us.

KG: We do take a very global approach to thought leadership. For every topic, we ask ourselves, “What’s the international angle?” We make it a priority to come together and collaborate across borders; to be true thought leaders we need to listen to diverse voices in each of our offices. We also collaborate with think tanks, consultancies and academic bodies around the world.

How can thought leadership build client relationships?

LW: On a fundamental level, it demonstrates an understanding of the global agenda, and the challenges and opportunities affecting our clients. It also enables us to anticipate their needs. Clients value initiatives that help them understand the impact of change, as and when it happens. We focus on giving them the information they need, as soon as they need it. For example, immediately after the UK voted for Brexit, we held conference calls with client groups, giving them real-time insight into time-critical considerations in an interactive format. The feedback was extraordinarily positive. The idea was simple, but it was incredibly helpful for our clients.

KG: Interaction is key. We’re not just informing clients of our expertise, we’re leading and facilitating discussions. Thought leadership helps us identify opportunities for our clients and ways that we can pursue them together.

Should junior lawyers get involved in thought leadership?

KG: Absolutely. First, because it’s fun, interesting and intellectually stimulating. And second, because it doesn’t just move the needle on your knowledge, it can move the needle on your career. We encourage everybody to get involved as early as possible and develop a flexible, substantive framework that includes some core strategic topics – Fintech, Trade and Financial Regulation, to name a few.

In some key areas, such as Fintech, junior lawyers are naturally closer to the topic – and the technologies; thus, many initiatives are led by them rather than our more senior attorneys. For example, one of our New York associates published a treatise in the Harvard Business Law Review on crowdfunding and the potential social welfare impact of the US JOBS Act. He has also contributed to Columbia Law School’s blog on US financial industry reforms aimed at expanding capital-raising options for early-stage companies.

LW: Sharing knowledge helps you build deeper client relationships; the importance of this cannot be over-emphasized. It also raises your profile within the firm and helps you build that vital internal network. Getting involved in thought leadership gives you the opportunity to connect, collaborate and develop a broad and international perspective. There are lots of interesting projects that you can get involved in and, if you are passionate, you can become a genuine expert.

For more information about thought leadership at Clifford Chance, please visit
www.cliffordchance.com

The challenges faced by businesses have never been so complex, nuanced or international. Delivering the best possible solutions for clients requires a team of people from a wide range of backgrounds who can  offer different perspectives and diverse opinions. There are ethical reasons for fostering diversity, but it also makes fundamental business sense.

Law firms increasingly understand the importance of developing teams that match the diversity of their clients. Clifford Chance has a longstanding commitment to sustainable improvement to our gender balance. Progress
is being made, but the fact remains that we, and the profession, are not as diverse as we ought to be. There is more work to do.

To improve, we must integrate our commitment into every aspect of our decision making. This means aligning our priorities for diversity and inclusion with the firm’s high-level commercial strategy, as well as its day-to-day business activities. Women and men must have equal opportunities to do the substantive legal and client development work that is critical to their success.
Of course, strong leadership is essential, with senior management setting clear expectations, closely monitoring progress, embedding an inclusive culture and acting as sponsors and mentors for talent across the whole firm. In particular, we need role models: individuals who are willing to share their advice and experiences to support and inspire those embarking on their careers. It’s no small commitment, but there are many passionate people who have taken on the task.

You’ve now read some of their stories. Hopefully, they will help you to write your own.

Matthew Layton, Managing Partner,  Clifford Chance

There is a wider range of opportunities for women in business than ever before. To maintain and increase the momentum that’s been built over several decades, it’s incumbent on senior leaders across all industries to continue pushing for sustainable improvements.

In the legal sector, we are making progress towards gender equality, but few firms would say they have done enough. A critical component to closing the gender gap is transparency – including annual public reporting that details the progress being made. At Clifford Chance, our goal is to have women make up at least 30 percent of our partnership. As of today, that proportion is 18 percent globally, though with significant variations in regions, with our London office at 22 percent and Asia Pacific at 28 percent. We’re on a path forward but there is still a lot more for us to do.

Sustainable progress will only be achieved by taking a holistic approach to gender equality. Generational change will help us shift the balance, but we cannot wait on that.

Clear policies should be the starting point. They must be actively and openly endorsed by senior leadership. Education should also be a priority, especially training programs that address unconscious bias and other gender and diversity issues. Law firms and legal departments must work to support managers and colleagues in creating a truly inclusive and meritocratic environment.

The reason we joined with The Legal 500 and GC magazine in publishing this book is a profound belief that more role models, like the women profiled on the following pages, are needed to help advance the cause. We hope everyone who reads this book will benefit from the experiences of others who have been there before them – particularly when faced with career-forming decisions. We also hope the ideas and examples shared will provide a “road map” that lays out different ways for younger lawyers to reach their chosen destinations.

My advice for law school students and junior lawyers is to seek out outstanding role models and make them your mentors. Develop a strong support network that will help you succeed. And feel empowered to make your own way in the world.

Laura King
Global Head of People and Talent, Clifford Chance