ARLINGTON, VA — Bloomberg Law announced that it has named 55 U.S.-based law firms to its third annual Diversity, Equity, and Inclusion (DEI) Framework, the legal industry’s first and only standardized, fully transparent methodology to measure law firms’ performance. Firms were assessed across more than 85 metrics, each associated with one of the framework’s six core pillars: demographics, leadership and talent pipeline, recruitment and retention, business innovation and strategy, marketing, and diversity and inclusion in the community.
The DEI Framework report, which includes a detailed methodology and lists the member firms, is available for complimentary download at http://blawgo.com/UXoPcVq.
Among the report’s key findings:
- Nearly all firms (97%) reported having a public statement regarding their commitment to diversity and inclusion, up from 91% last year.
- 8 out of 10 firms that submitted data this year require diversity within a pool of candidates for management and leadership positions, however, only a third have a specific, time-bound action plan to increase representation of diverse groups in those leadership positions.
- 72% of firms mandate and monitor that minority and women attorneys have equal access to clients, quality work assignments, committee appointments, marketing efforts and firm events, up slightly from 66% last year.
- Just over half of firms recognized as members of the DEI Framework say that practice group leaders have diversity and inclusion goals as part of their annual performance reviews, but only 14% of firms that were not recognized have this requirement of their practice group leaders.
“DEI remains a critical factor for general counsel seeking to engage law firms that reflect their values, and we’ve brought our industry expertise and strength in data analytics to bear in assessing how law firms are performing in this critical arena,” said Joe Breda, president, Bloomberg Law. “It’s apparent that law firms have stepped up their commitments to DEI in recent years, and we’ll continue to shine a light on this issue that is of increasing importance to the legal industry.”
About Bloomberg Law
Bloomberg Law combines the latest in legal technology with workflow tools, comprehensive primary and secondary sources, trusted news, expert analysis, and business intelligence. Our deep expertise and commitment to innovation provide a competitive edge to help improve attorney productivity and efficiency. For more information, visit Bloomberg Law.