NEW PROJECTIONS
1% of Partners in city law firms are Black. How much progress can be made in a decade?
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I've been playing with the latest upgrade to Pirical's diversity projections software 🚀
The algorithm takes, for every role in a law firm over the last 5 years:
> Recruitment rates and diversity of new hires
> Attrition rates and diversity of leavers
> Promotion rates and diversity of promotions
📈 Then steps forward with these numbers to see how representation is expected to evolve, if the firm keeps going as it has.
Example / Today, approximately 1% of partners in London are Black. Memorably explored in the ‘1% Study’ (https://lnkd.in/eYmru6Bb, Julian Richard).
In the last 5 years, this number has been increasing.
But are firms really on track to further diversify their partnership, based on their recent attrition, promotions and recruitment?
I aggregated granular projections for a selection of top London firms to get a market-wide view.
The answer is: in aggregate, yes. Top London law firms are already acting to increase Black Partner representation.
🐢 The needle will move slowly. Our model expects diversification from 1% to 3% in 10 years.
I modelled a few scenarios. Across all the firms, senior Black Fee Earners have been promoted at slightly higher rates in the last few years, and White Partners are retiring at higher rates. So ‘equalising’ these would decelerate change initially.
Although the situation varies significantly between firms.
However, closing the numerous attrition & promotion gaps that do exist at all levels would have a longer term, compounding impact. Beating the baseline in 8 years' time is possible in a combined scenario including recruiting a Black % of trainees roughly reflective of the law school population.
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💚 Customers of Pirical On Demand (POD) Diversity will find the new projections model now live in beta and can be generated for business professionals as well as cut by offices, practice groups and business services functions. New features include additional scenario modelling options and the ability to dive into the underlying counts. And as always our analysts are ready to support custom requests.
#DEI #Diversity #PeopleAnalytics #LegalPracticeManagement #LawFirms
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