How Legal Departments can win over the C-Suite
In theory, in-house lawyers serve just one client, the organization. In reality, in-house lawyers are accountable to an array of human audiences. To be effective, Legal Departments must ensure full alignment with their major internal stakeholders: the CEO, CFO, COO and business unit leaders.
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Stakeholder satisfaction is far from a one-size-fits-all approach, and it’s not as simple as delivering great legal work. Indeed, on a macro level, there seem to be disconnects between in-house lawyers and the top brass:
CEOs:
According to a recent BarkerGilmore survey, 70 percent of CEOs said the ideal General Counsel would be a strategic business partner. However, only 55 percent said their current General Counsel did so.
CFOs
A Deloitte survey of CFOs show that many do not see the value that the Legal Department provides. When asked to rank roles that had the most impact on the company – financial or non-financial – CFOs ranked “Chief
Legal Counsel or equivalent” at the very bottom.
It's important for the Legal Department to align with your major internal stakeholders
It will take your Legal Department a little time to dive in to understand each stakeholder’s specific priorities and processes. But this effort will bring benefits across the board: C-suite executives will receive counsel and communication that better meets their needs, and the lawyers will get more strategic work, an elevated reputation….and perhaps a little more mercy during budget season.
While every company is different, this guide will help bring harmony between the Legal Department and the various roles they serve, starting with big-picture perspectives and drilling down into specific action items for the:
- CEO
- CFO
- COO
- Other business unit leaders
Bonus: this guide also includes 10 best practices to help Legal Departments build stakeholder satisfaction.
Learn how you can make your company stakeholders happy
While every organization is different and every stakeholder has their own pressures and preferences, this guide will provide Legal Departments with practical advice for building stronger ties with your CEO, CFO, COO and other business unit leaders. Download the white paper now to get started.