Managing risk is still critically important, but it is nolonger enough. General counsel and their teams areexpected to actively support their company’s strategy.As a result, the role of “chief legal officer” has becomea viable stepping-stone to the chief executive officerrole. According to the Association of Corporate Counsel“2020 ACC Chief Legal Officers Survey,” approximately93% of GCs are now members of the executive management team—an almost 10% increase from 10years ago.
Almost 70% of in-house legal and compliance officersare having a hard time juggling mostly unplanned andurgent work in the COVID- 19 economy. The survey fromGartner taken in June and released recently shows 68%of the 286 participating legal leaders are struggling tomanage the heavier workload brought on by the pandemic and the subsequent recession. The main matterscontributing to the workload are labor and employmentat 44%, government affairs and relations at 42%, andregulatory and compliance at 39%.
A surprising number of in-house counsel feel insulatedfrom the job losses that have occurred as a result of theglobal COVID- 19 pandemic and related financial crisis, according to a new survey from the Association ofCorporate Counsel. Half of the 487 ACC members whoparticipated in an online poll from Aug. 4 to Aug. 10
weren’t worried about losing their jobs, 26% reportedthat they were only “a little” anxious, and about 15%were somewhat distressed about their job security.
Chief executive officers for public and privatecompanies aren’t particularly satisfied withthe business acumen of their general counsels,according to a new report. Of the more than100 CEOs who participated in a BarkerGilm-ore survey, only 55% said their chief lawyersacted as a strategic business partner and wasconsidered to be a valued member of the company’s leadership team.
“Sometimes you have to be very honest with people and say, ‘Your job is changing.
This company is changing. Iwant you to be a part of thatchange.’” JENNIFER CHUNG, GENERAL COUNSEL,ACCUWEATHER INC.