On behalf of Susan Taylor Martin, the president of Thomson Reuters’ Legal business, and all of us here from Thomson Reuters, I’m thrilled to share the launch of our inaugural issue.
We all know the case for women’s advancement is clear. Companies with a strong track record of gender diversity are 15% more likely to have higher earnings than their peers. In fact, among all Fortune 500 companies, the ones with the highest representation of women on their boards significantly outperform the others.
We know only 4% of the 200 top U.S. law firms have female, firm-wide managing partners. In the top 100 law firms in the UK, just 9.4% of equity partners are women. This is even lower than the percentage of board members at FTSE 250 companies who are women, at 9.6%. Recent research by McKinsey & Co. and the LeanIn.Org has reported that it will take between 80 to 100 years to reach full gender parity in the C-suite. This is clearly too long.
For these reasons and because Thomson Reuters is uniquely positioned to bring together both corporations and law firms to explore what we can do to address this important issue, Thomson Reuters has made diversity and gender parity its key priorities. It’s not good enough to just say we value diversity. We now need to act on it.
Thomson Reuters has made diversity and gender parity its key priorities. It’s not good enough to just say we value diversity. We now need to act on it.
Earlier this year, Thomson Reuters launched the Transforming Women’s Leadership in the Law initiative with the goal of repositioning the conversation away from what women can do and instead placing greater onus on law firms, general counsel offices and the overall legal industry.
Utilizing a series of curated events, written content, podcasts and videos, this initiative will highlight and educate on the structural barriers in organizations that often inhibit women’s professional development. More importantly, Transforming Women’s Leadership in the Law’s events and content, as well as this newsletter, will provide solutions that can be implemented to remove these barriers at your own firms and corporations.
To kick-off our first issue, our feature story is a podcast with Jane Pigott, of the R3 Group, discussing how mentoring programs can be made more effective and valuable to legal professionals.
With your partnership we will help break the barriers for women and lead the way for our clients and organizations in a strong, diverse workforce. Thank you for your interest and support as we focus on solutions to a rapidly evolving world.