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Benchmarking General Counsel Compensation

 

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Best Practices for General Counsel Succession Planning

Like other executives, General Counsel are tasked with identifying and developing their successor. While hiring a new General Counsel from the outside can be costly, considering expenses like executive search fees, buying out unvested equity and unpaid bonuses, and relocation, the benefits of promoting an internal candidate to General Counsel are significant. Moreover, there is always a chance that an outside hire will not align with the leadership team or integrate well into the corporate culture. But, if properly mentored, the internal successor should already have a deep understanding of the business, sound relationships intact with the leadership team and Board, and alignment with company culture.

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Diversity Drives Business Performance

The results of a recent global survey of more than 1,700 companies published in the Harvard Business Review showed that diversity has a favorable impact on financial performance. This data is further fodder for the discussion of the necessity of diversity in our workforces.

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The Compliance Officer’s Guide to 2019 Compensation Trends

Now more than ever, compliance leaders across all industries are expanding their role from that of a watchdog and enforcer to a strategic advisor with direct support from the Board and C-Suite. The compliance function is not only viewed as an operational necessity for most organizations, but as a strategic entity tasked with building relationships with both key industry regulators and internal stakeholders in every department.

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Hiring Compliance Officers: Five Things to Ask Every Candidate

The demand for compliance officers continues to grow and it seems there is no end in sight for at least the next decade. In addition to increased demand, companies are looking for compliance leaders who can leverage technology to get to the root of potential issues quickly and efficiently. The position requires a multi-faceted skill set, industry-specific expertise, and a firm grasp of technology-enabled monitoring and reporting tools.

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Do You Have "The Right Stuff?"

The Academy Award-winning movie, The Right Stuff, inspires us to think about having the “right stuff” from a new perspective. This mysterious mix is not one single quality, but a composite of attributes driven by a commitment to an ideal and a willingness to keep striving to achieve new levels of success. I’m struck by how this was reflected in the lives of the pilots in the movie who eventually became astronauts; they had to reach beyond their professional status as pilots to embrace a much broader vision of themselves — and that is what eventually defined them.

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Top 2019 Trends for In-House Counsel Compensation

This year, in-house counsel reported unprecedented rates of compensation satisfaction, with over 62% of lawyers unlikely to look for a new job and almost 60% believing their compensation is appropriate in comparison to peers. Our search consultants and advisors observe this contentedness in the market daily. With the legal function constantly evolving to include business advisory and leadership roles, especially at the General Counsel and Managing Counsel levels, organizations have made compensation packages more compelling and use counter offers to retain high-performers tempted to leave. In turn, in-house counsel are well-paid, enjoy the law department culture, experience comradery and business challenges, and are bound by golden handcuffs due to rich stock packages and a bull market.

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