Yesterday was a very big day for us at Acritas. It was the day we shared publically for the very first time new insight on gender and diversity in law – specifically how gender can influence buying behaviors and how a diverse team leads to a better performance.
This year is the first year that we have included questions in our annual Sharplegal study that have allowed us to:
We ask how diverse the team is that clients work with after they have given the rating so there is no impact or bias on the results given. And we are seeing big differences in the results across all KPIs.
When looking just at the data of the very diverse versus not diverse at all, the significant differences (at this stage) are on strength of relationships, charging a fair price for the value delivered and on likelihood to recommend.
Everyone knows that intense competition in the legal market is radically altering client/law firm relationships and that pressure on in-house counsel to become ever-more commercially minded and offer business-ready advice is altering what they need and expect of their law firms. So what does it mean to meet these value expectations to clients and how can this foster firm growth?