How in-house legal teams measure, monitor and communicate value.
In today's global business landscape, the significance of in-house legal teams has never been more pronounced. Heightened visibility brings greater responsibility to showcase value, by using metrics that are familiar to other corporate functions and the board.
While the assessment and communication of value are longstanding challenges for strategic advisory roles, the unique dynamics of the legal function present equally unique complexities. So Clifford Chance and RSGI have collaborated with General Counsel and heads of legal operations from 15 organisations spanning various jurisdictions to produce this report. Our aim is to establish the common ground in how Legal quantifies value and, by sharing these insights, inform discourse on the best way for in-house teams to measure value in the future.
As with the other reports in the Active Legal series, this report is based on academic and market research alongside long-form interviews. The report identifies four core value pathways – Economic Value, Efficiency, Quality and Influence – together with examples of what can be measured and how.
Our hope is that legal leaders will use this report to affirm and develop their approach to measuring and demonstrating value, and to create a higher profile and an even more strategic role for the legal team in their organisations. We hope these insights generate further discussion and invite you to the conversation.