Evan Parker (Founder, Parker Analytics), Main Courageously With Information:
The graphic above tracks demographic illustration throughout 12 legislation corporations working for BASF Company, 2016 to 2021. On common, shares of BASF work grew +11% for various ethnicity companions and +46% for associates. For ladies, shares grew +24% for companions and +28% for associates. Moreover (not pictured), ethnicity and gender illustration in firmwide management grew +10%.
What explains this blockbuster progress? To me, it’s the brave leaders utilizing knowledge to attain a shared mission.
Annually, BASF’s in-house leaders request range knowledge from exterior counsel. Parker Analytics (PA) then prepares individualized knowledge scorecards and motion objects, which BASF shares with its corporations. Because the graphic clarifies, agency leaders responded, driving progress in various illustration in BASF authorized groups and the agency total.
Probably the most profitable knowledge tasks I do know embody a shared mission—between shoppers and corporations, agency leaders and analysts, and so forth. Reaching mission targets collectively enriches these skilled relationships. So, in main courageously with knowledge you might be powering a virtuous cycle.
To make use of knowledge courageously you should do three issues properly: (1) lead with a single quantity, (2) construct transparently, and (3) be versatile. When these options are current—as with BASF’s range program and others I’ll describe under—an information system for choices can produce a Hollywood ending on par with Moneyball.
Disclosure: Clearly, BASF is a consumer of Parker Analytics. To its credit score, BASF is sharing its studying with different authorized departments and legislation corporations. See, e.g., Phillip Bantz, “Q&A: BASF Authorized Chief on Driving Range at Regulation Corporations: Carrots Are Extra Efficient Than Sticks,” Corp Counsel, Could 10, 2022 (interviewing BASF Common Counsel Matt Lepore on the corporate’s method to range).
https://taxprof.typepad.com/taxprof_blog/2022/05/leading-courageously-with-data-to-diversify-the-legal-profession.html
