Diversity Counts

Prepared by Jill Leonardis – Kelley Drye & Warren LLP

Panelists
Jennifer Bankcroft DaSilva, Chief Counsel
Schering-Plough Animal Health Corporation

Raymond R. Ferrell, Vice President, Group Counsel
American Express Company

Willie E. Dennis, Partner and Co-Chair, Private Equity and Venture Capital Practice
Thelen Reid & Priest

Moderator
Jennifer A. Manton, Director of Marketing Communications
Thelen Reid & Priest

Sponsor
The Legal Marketing Association would like to express its appreciation to ALM Diversity Publishing Group for their sponsorship of this event.

Summary

• The panelists stated that in-house counsel have become increasingly conscious of hiring minorities and women, both within their departments and as outside counsel. 

• By panelist definition, a diverse organization consists of employees from different backgrounds to provide various points of view and perspectives. 

• Aside from the ethical reasons for a company to diversify its workforce, companies recognize that diversity is valuable in regard to their globalization initiatives.  By tapping into a variety of perspectives within their own organizations, companies may improve their products and services, gaining a competitive edge in the worldwide market.

• In general, corporations are approximately 15 years ahead of the law firm industry in addressing diversity issues.  This may be attributed to law firm economics, as corporations have greater financial flexibility to put diversity programs into practice.  The panelists stated that corporations have been more proactive in diversifying their organizations while law firms tend to be more reactive, instituting diversity initiatives to address the concerns and needs of their clients. 

• In selecting a law firm as outside counsel, companies may consider factors such as expertise, cost of legal services and geography, but an increasing number of companies are considering diversity as a factor in their selection process. 

• For one panelist, a law firm with a successful ranking on the diversity scorecard is a definite plus, but if the firm is not appropriate for the company’s need, this achievement may not be an overriding factor in selecting counsel.

• The panel estimates that one third of law firms excel in diversity initiatives, one third of the firms are satisfactory or adequate in their diversity efforts and the remaining third are not making significant progress in this area. 

• In regard to diversity-related queries in RFPs, if a law firm’s numbers are unfavorable, the panel recommends providing the reader with concrete examples of the firm’s diversity initiatives to demonstrate the organization’s commitment to improving diversity.

• It may be challenging for law firms to attract diverse talent to all practice areas.  According to the panelists, certain industry-specific practices, such as patent law, may not attract large numbers of women and minorities.

• Law firms with a greater number of minority and women attorneys are more likely to attract a diverse group of talented professionals, as a new attorney may identify with a mentor from a similar background.

• For an organization to successfully implement diversity initiatives in all of its offices around the world, it is important to recognize the cultural, historical and political issues of each country.