applying key metrics to demonstrate performance, prove value and increase internal influence
DESCRIPTION
Cheryl Sweeney, Head of Legal & Product Development, CNA Europe, a speaker at the European Corporate Counsel Summit 2014TRANSCRIPT
![Page 1: Applying Key Metrics to Demonstrate Performance, Prove Value and Increase Internal Influence](https://reader035.vdocuments.mx/reader035/viewer/2022081404/559628961a28ab9b5a8b4778/html5/thumbnails/1.jpg)
CNA EuropeCNA EuropeCNA EuropeCNA Europe
Key Metrics to Demonstrate Value and
Cheryl SweeneyHead of Legal & Product
Development
1
Demonstrate Value and Performance
![Page 2: Applying Key Metrics to Demonstrate Performance, Prove Value and Increase Internal Influence](https://reader035.vdocuments.mx/reader035/viewer/2022081404/559628961a28ab9b5a8b4778/html5/thumbnails/2.jpg)
CNA EuropeCNA EuropeCNA EuropeCNA Europe
General characteristics of lawyersGeneral characteristics of lawyersGeneral characteristics of lawyersGeneral characteristics of lawyers
• Objective
• Expert
• Committed
• Intuitive
• Comprehensive
• Accurate
2
• Committed
• Ethical
• Curious
• Rigorous
• Confidential
• Accurate
• Diplomatic
• Credible
• Balanced
• Analytical
![Page 3: Applying Key Metrics to Demonstrate Performance, Prove Value and Increase Internal Influence](https://reader035.vdocuments.mx/reader035/viewer/2022081404/559628961a28ab9b5a8b4778/html5/thumbnails/3.jpg)
CNA EuropeCNA EuropeCNA EuropeCNA Europe
General perceptions of lawyersGeneral perceptions of lawyersGeneral perceptions of lawyersGeneral perceptions of lawyers
• Narrow-minded
• Fastidious
• Technical
• Risk Averse
• Literal
• Expensive
3
• Technical
• Dogmatic
• Indecisive
• Slow
• Academic
• Expensive
• Boring
• Impersonal
• Unresponsive
• Argumentative
![Page 4: Applying Key Metrics to Demonstrate Performance, Prove Value and Increase Internal Influence](https://reader035.vdocuments.mx/reader035/viewer/2022081404/559628961a28ab9b5a8b4778/html5/thumbnails/4.jpg)
CNA EuropeCNA EuropeCNA EuropeCNA Europe
Qualities that clients want in their lawyersQualities that clients want in their lawyersQualities that clients want in their lawyersQualities that clients want in their lawyerssource: London Evening Standard October 2014source: London Evening Standard October 2014source: London Evening Standard October 2014source: London Evening Standard October 2014
4
![Page 5: Applying Key Metrics to Demonstrate Performance, Prove Value and Increase Internal Influence](https://reader035.vdocuments.mx/reader035/viewer/2022081404/559628961a28ab9b5a8b4778/html5/thumbnails/5.jpg)
CNA EuropeCNA EuropeCNA EuropeCNA Europe
Globalisation and a shrinking worldGlobalisation and a shrinking worldGlobalisation and a shrinking worldGlobalisation and a shrinking world
• Economic pressures have accelerated globalisation
• Emerging markets
5
• Emerging markets
• New business products or markets
• Cross-jurisdictional expertise
• Innovation and cross fertilisation
• New risks and opportunities from technology
![Page 6: Applying Key Metrics to Demonstrate Performance, Prove Value and Increase Internal Influence](https://reader035.vdocuments.mx/reader035/viewer/2022081404/559628961a28ab9b5a8b4778/html5/thumbnails/6.jpg)
CNA EuropeCNA EuropeCNA EuropeCNA Europe
How businesses are respondingHow businesses are respondingHow businesses are respondingHow businesses are responding
80
90
100
UK
Europe
Asia
6
0
10
20
30
40
50
60
70
Reducing the # of
advisers
Changing advisers Demanding more
standardisation
Taking more w ork in-
house
Risk-sharing more
w ith advisers
Asia
USA
![Page 7: Applying Key Metrics to Demonstrate Performance, Prove Value and Increase Internal Influence](https://reader035.vdocuments.mx/reader035/viewer/2022081404/559628961a28ab9b5a8b4778/html5/thumbnails/7.jpg)
CNA EuropeCNA EuropeCNA EuropeCNA Europe
Evolution of the inEvolution of the inEvolution of the inEvolution of the in----house lawyerhouse lawyerhouse lawyerhouse lawyer
Economic pressures = opportunities:Economic pressures = opportunities:Economic pressures = opportunities:Economic pressures = opportunities:
• Enhanced profile for General Counsel in compliance and risk
7
• Enhanced profile for General Counsel in compliance and risk
• Broader remit for in-house counsel, more work in house
• Increased in-house expertise, less reliance on external advisors
• Need for efficiency and use of technology
• Greater need for “trusted advisor”
• Personal relationships are key
![Page 8: Applying Key Metrics to Demonstrate Performance, Prove Value and Increase Internal Influence](https://reader035.vdocuments.mx/reader035/viewer/2022081404/559628961a28ab9b5a8b4778/html5/thumbnails/8.jpg)
CNA EuropeCNA EuropeCNA EuropeCNA Europe
How has your role changed?How has your role changed?How has your role changed?How has your role changed?
• Proactive or reactive?
• Integral asset to the business or a necessary drain on
resources?
8
resources?
• Key role in Compliance and Corporate Governance?
• Global co-ordination – providing the link between
jurisdictions and ensuring business continuity
• Innovation
![Page 9: Applying Key Metrics to Demonstrate Performance, Prove Value and Increase Internal Influence](https://reader035.vdocuments.mx/reader035/viewer/2022081404/559628961a28ab9b5a8b4778/html5/thumbnails/9.jpg)
CNA EuropeCNA EuropeCNA EuropeCNA Europe
InInInIn----house value proposition:house value proposition:house value proposition:house value proposition:
Deliver relevant, commercial solutions
Relevant = your business and the competitive
9
Relevant = your business and the competitive
environment
Commercial = proportionate, timely, understandable,
achievable, and affordable
![Page 10: Applying Key Metrics to Demonstrate Performance, Prove Value and Increase Internal Influence](https://reader035.vdocuments.mx/reader035/viewer/2022081404/559628961a28ab9b5a8b4778/html5/thumbnails/10.jpg)
CNA EuropeCNA EuropeCNA EuropeCNA Europe
Understand your businessUnderstand your businessUnderstand your businessUnderstand your business
• Understand mission, values and culture
• Spend time at the sharp end – “shadow” a team / technical training
10
• Spend time at the sharp end – “shadow” a team / technical training
• Assume responsibility for additional functions
• Volunteer for cross-functional team projects
• Network in the industry
• Attend company wide training and conferences
• Participate in new projects / R&D / product launches
• Research your competitors – “Google Alerts”, newspapers
![Page 11: Applying Key Metrics to Demonstrate Performance, Prove Value and Increase Internal Influence](https://reader035.vdocuments.mx/reader035/viewer/2022081404/559628961a28ab9b5a8b4778/html5/thumbnails/11.jpg)
CNA EuropeCNA EuropeCNA EuropeCNA Europe
Align with corporate goalsAlign with corporate goalsAlign with corporate goalsAlign with corporate goals
• Support business plan objectives directly with your team’s
objectives, team structure, skills / experience
11
objectives, team structure, skills / experience
• Clear objectives and roles for legal team members
• Effective prioritisation
• Optimise external resource
• Professional and approachable
• Build trust
![Page 12: Applying Key Metrics to Demonstrate Performance, Prove Value and Increase Internal Influence](https://reader035.vdocuments.mx/reader035/viewer/2022081404/559628961a28ab9b5a8b4778/html5/thumbnails/12.jpg)
CNA EuropeCNA EuropeCNA EuropeCNA Europe
Provide commercial solutionsProvide commercial solutionsProvide commercial solutionsProvide commercial solutions
• Explain how, not why not
• Assist in implementation
• Apply judgement not just analysis
• Don’t lose sight of commercial objective
12
• Don’t lose sight of commercial objective
• Assume responsibility and take measured risks
• Keep colleagues informed
![Page 13: Applying Key Metrics to Demonstrate Performance, Prove Value and Increase Internal Influence](https://reader035.vdocuments.mx/reader035/viewer/2022081404/559628961a28ab9b5a8b4778/html5/thumbnails/13.jpg)
CNA EuropeCNA EuropeCNA EuropeCNA Europe
Excel in effective communicationExcel in effective communicationExcel in effective communicationExcel in effective communication
• Clear, simple, to the point
• Body language and group dynamics
• Timely
13
• Visible and accessible
• Effective listening
• Reflect your organisation’s culture and tone
![Page 14: Applying Key Metrics to Demonstrate Performance, Prove Value and Increase Internal Influence](https://reader035.vdocuments.mx/reader035/viewer/2022081404/559628961a28ab9b5a8b4778/html5/thumbnails/14.jpg)
CNA EuropeCNA EuropeCNA EuropeCNA Europe
Develop a legal team profileDevelop a legal team profileDevelop a legal team profileDevelop a legal team profile
• Company newsletter / intranet
•“Lunch and Learn” informal training sessions
14
•“Lunch and Learn” informal training sessions
• External publications / conferences
• Trade associations
• Corporately sponsored charitable events
• Technical / subject matter expertise
![Page 15: Applying Key Metrics to Demonstrate Performance, Prove Value and Increase Internal Influence](https://reader035.vdocuments.mx/reader035/viewer/2022081404/559628961a28ab9b5a8b4778/html5/thumbnails/15.jpg)
CNA EuropeCNA EuropeCNA EuropeCNA Europe
Demonstrate your valueDemonstrate your valueDemonstrate your valueDemonstrate your value
• Seize the initiative
• Devise meaningful KPIs and benchmarks
15
• Devise meaningful KPIs and benchmarks
• Alignment with corporate objectives
• Optimise effectiveness
• Improve prioritisation
• Better resource allocation
• Greater transparency
![Page 16: Applying Key Metrics to Demonstrate Performance, Prove Value and Increase Internal Influence](https://reader035.vdocuments.mx/reader035/viewer/2022081404/559628961a28ab9b5a8b4778/html5/thumbnails/16.jpg)
CNA EuropeCNA EuropeCNA EuropeCNA Europe
KPI’s: ExamplesKPI’s: ExamplesKPI’s: ExamplesKPI’s: Examples
How many ?
Time to settle ?Litigation Disputes
Number ?
Category of claim ?Employment Claims
16
Time to settle ?
Financial cost ?
Management involvement ?
Settlement cost ?
Business impact ?
Trend analysis ?
Disputes Category of claim ?
Source ?
Time to manage ?
Cost ?
Outcome ?
Comparative performance ?
Lessons to be learned ?
Trend analysis ?
nt Claims
![Page 17: Applying Key Metrics to Demonstrate Performance, Prove Value and Increase Internal Influence](https://reader035.vdocuments.mx/reader035/viewer/2022081404/559628961a28ab9b5a8b4778/html5/thumbnails/17.jpg)
CNA EuropeCNA EuropeCNA EuropeCNA Europe
KPI’s: examplesKPI’s: examplesKPI’s: examplesKPI’s: examples
Size of portfolio ?Intellectual
# prosecutions ?
17
Size of portfolio ?
Time to register ?
Financial cost ?
Relevant jurisdictions ?
Defences?
Infringements ?
Longevity ?
Intellectual property
# prosecutions ?
# warnings ?
Fine ?
Peer comparisons ?
PR damage ?
Reputational risk ?
Regulatory
![Page 18: Applying Key Metrics to Demonstrate Performance, Prove Value and Increase Internal Influence](https://reader035.vdocuments.mx/reader035/viewer/2022081404/559628961a28ab9b5a8b4778/html5/thumbnails/18.jpg)
CNA EuropeCNA EuropeCNA EuropeCNA Europe
Qualitative measures of successQualitative measures of successQualitative measures of successQualitative measures of success
• Early involvement of the legal team
– Board sub committees / Co Sec
18
– Board sub committees / Co Sec
– Monthly or quarterly checks with key customers
• Quality of internal relationships and feedback
– Surveys
• Quality of relationships with regulators
• Training delivered
![Page 19: Applying Key Metrics to Demonstrate Performance, Prove Value and Increase Internal Influence](https://reader035.vdocuments.mx/reader035/viewer/2022081404/559628961a28ab9b5a8b4778/html5/thumbnails/19.jpg)
CNA EuropeCNA EuropeCNA EuropeCNA Europe
Personal developmentPersonal developmentPersonal developmentPersonal development
• Realistic self assessment
• Devise short, medium and long term goals
19
• Devise short, medium and long term goals
• Take credit
• Be flexible
• Constantly rebuild support and information networks
• Periodically review
![Page 20: Applying Key Metrics to Demonstrate Performance, Prove Value and Increase Internal Influence](https://reader035.vdocuments.mx/reader035/viewer/2022081404/559628961a28ab9b5a8b4778/html5/thumbnails/20.jpg)
CNA EuropeCNA EuropeCNA EuropeCNA Europe
Thank you!
20
20 Fenchurch Street
London
EC3M 8BY