47
T H E R O L E O F G E N E R A L C O U N S E L A N D T H E B O A R D
F A C T O R S D R I V I N G C H A N G E I N T H E G E N E R A L C O U N S E L R O L E
64 % 29 %
Specific commercial risks that need to be managed
I TH I NK THE C I RCUMS TANCE S WI L L RA I S E A WHOL E S E T OF VE RY I NT E R E S T I NG QUE S T I ONS ABOUT THE WAY THAT
C OV I D - 1 9 H A S H I G H L I G H T E D T H E N E E D T O
G E N E R A L C O U N S E L A N D B OA R D D I R E C T O R S L A R G E LY AG R E E O N T H E FAC T O R S D R I V I N G C H A N G E I N T H E G E N E R A L C O U N S E L R O L E One of the most striking developments the Looking Glass has tracked over the years is the changing character of the General Counsel role and its relationship to the Board. What was once characterised as a purely legal function dealing with the execution of intellectual property, litigation and regulations has (through having to address the challenges of globalisation, regulation and compliance requirements, data risks and constant technology change) increasingly taken on communications, reputation, ethics, projects procurement and crisis management tasks. As a result General Counsel play a more central role in the governance of organisations and the required skillset has expanded to encompass leadership, strategic vision and change management. The trend for in-house legal teams to become more a part of the organisation’s leadership structure has necessitated them having to develop a deeper and more integrated understanding of organisational objectives and operations.
54 % 41 %
Specific legal and regulatory developments
H AV E T H E C O R R E C T B A L A N C E O F S K I L L S
51 % 35 %
Changing demands from internal clients
O N T H E B OA R D A N D B E TWE E N L E G A L T E AM S
BOARDS AND MANAGEMENT T EAMS NE ED TO
49 % 53 %
Cost pressures that require improved efficiency
It is essential to have the necessary strength in depth to withstand a crisis. Most General Counsel and Board Directors are positive about the agility and speed with which they have made and implemented decisions during the pandemic. A common theme is the benefit that having a shared purpose has given to relationships between General Counsel and the Board. Having a team that has a common understanding of what’s at stake and the ability to demonstrate empathy has been a positive experience for many management teams. Many feel that the stress-test provided by the pandemic has resulted in learnings about culture and purpose that can be extended beyond the timescale of the crisis and extended outward to all stakeholders.
48 % 29 %
OP E RAT E TO B E MOS T E F F ECT I VE . CULTUR E I S GO I NG TO B E A K EY D I F F E R ENT I ATOR AS TO HOW BUS I NE S S E S EME RGE F ROM COV I D - 1 9 - CULTUR E S WH I CH AR E CHARACT E R I S ED BY OP ENNE S S , COL LABORAT I ON AND TRUS T WI TH AL L THE I R S TAK EHOLDE R S AR E THE ONE S WHO AR E GO I NG TO WI N.
Ability to work anywhere/anytime
45 % 24 %
Internal business model innovation
38 % 35 %
Ability to leverage new technologies to redesign processes and workflows
36 % 18 %
Changing legal career paths
28 % 6%
Ability to unbundle and outsource legal services
19 % 12 %
Innovation by external legal suppliers
Paul Donovan, NED, Thames Water
8% 5%
Demographic changes
General Counsel Board
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