One of the most frequently mentioned challenges facing in-house counsel today is how to demonstrate the value which the legal function brings to the business.
This challenge is even more acute in the post COVID-19 world. As organizations seek to reduce costs and streamline operations, heads of legal teams often need to justify every line item on their budgets to leadership and other key stakeholders.
The concept of value is highly subjective and may mean different things to the business leadership and the legal team. It is also changing over time, as the role and expectations of the legal team evolve. So it is vital to find a common language and agree objectives which are aligned to the company’s overall strategy.
As part of The Lawyer’s “Smarter Working” week, Alan Ragueneau, Europe Managing Director of Nextlaw Inhouse Solutions, hosted a panel discussion with four general counsel on how they are responding to this challenge – by not only demonstrating but also redefining what value means within their organizations.
The distinguished panelists included:
• Martin Jones, Head of Operations – Legal, The Unite Group
• Alissa Foale, Chief Legal Officer, Brewin Dolphin
• Xavier Schops, Group General Counsel, Sonova AG
• John Skelton, General Counsel & Group DPO – Shared Specialist Services, Centrica