Canadian Lawyer

w w w . c a n a d i a n l a w y e r m a g . c o m O C T O B E R 2 0 1 8 39 important in narrowing the gap. The reality is that a diverse work- force produces better results — results that are more thoughtful, relevant, relatable to the world we live in and, most importantly for firms, the client base being served. Law firms need to recognize that clients who are deciding on where to spend their legal dollars are getting more diverse. Beyond the technical expertise that they are expected to offer, law firms are in the relationship business. At CIBC, our view is that relationships matter. We are acutely aware that providing thoughtful, rel- evant and relatable solutions are key to maintain- ing and growing our client relationships. For law firms, it's no different and, connecting with their diverse client base will be key to sustainability and growth. What can they do? Well, they can ensure that their workforce feels that their diver- sity matters, that their diversity is a benefit to the organization and is valued by the organization. When you're investing dollars, what does that mean? It's largely driven off some of the initia- tives and constraints that firms will have at the leadership level. But I think that what that looks like is in programs that ensure that your work- force — your talent pool, which is your key asset base — feels that that diversity is valued. Nicoló: I think it's important that your people reflect the community and clients that you serve. As Hasan mentioned, law firms are in the business of serving clients. And if you have people who come from different perspectives at the table, the solutions that you bring to your clients, the way that you interact and the relationships you build with your clients are really going to dis- tinguish you from your competitors. For many smaller firms, it may not be realistic for them to do formal measurements of diversity for a few reasons. What can they do to improve their diversity? I think they need to ensure that they have the right top-down attitude. Leadership needs to be an advocate for diversity. They also need to evaluate their hiring process. Do your people reflect your community and clients? And, lastly, everyone can promote diversity, and this can take many forms. You should collaborate with human resources and your staff to see what makes sense for your firm. But at a minimum, you should have a diversity policy and annual diversity training. Wilbur: Some of our readers indicated they felt doing formal surveys, especially where they may not have enough people, was an invasion of privacy. How do you address that concern? Khorasanee: I think you need to understand the culture of your organization. There are going to be cultural norms or nuances to those cultural norms within any organization. I think you need to be able to read that. If you can get the message across about what you're doing, that the intentions are for the good and they're not there for any other hidden agenda, I think people will be quite accepting of what you're trying to achieve. If you do want to launch an initiative, solicit ideas. So, if a survey feels invasive, ask for feedback on what people think you can do. Get the mes- sage across that it is important for you, it is important for us, it is important for our clients. You want to engage your talent pool to have a say at the table so that they feel they're part of the solution. It may not be a survey, but it could be something else like a com- mittee. But I think if you get the ideas from your team, it'll be much easier to roll it out. Nicoló: Hasan is right on point. I would emphasize that communication and education are paramount to overcoming this concern. The firm needs to clearly articulate why the firm is engaging in this process and the benefits. Diversity is good for business, and firms that invest in diversity report see- ing many advantages, such as an increased ability to attract talent, greater innova- tion and improved financial performance. It's critical that this process not just be rel- egated to HR to champion. The managing partner and the executive committee have a key role to play. Leadership engagement makes the difference. Wilbur: Succession planning is a big challenge for law firms, especially the smaller firms. What initiatives should law firms consider when they're mentoring younger lawyers for succession planning? Khorasanee: Talent is a critical factor in business sustain- ability, and good succession planning is a key part of that. When we talk to our clients at CIBC, we hear the same mes- sage. There's a lot of competition for the right talent, and law firms need to tap into a diverse talent base to ensure that they can thrive and grow in the future. There are several actions that we believe firms can take now to prepare for that future. The first would be to develop a strategy so that the organization can attract talented people with a wide array of interests and backgrounds. Leaders can be incented to ensure the success of future leaders by sharing work and developing broader client relationships. Well before they retire, partnership agreements can be set up to ensure that senior partners are thinking about the future sustainability of the firm and operating in ways that allow for transfer of prac- tice and business development experience. Another key aspect to succession planning is to ensure that people in the firm are Hasan Khorasanee, Director of Commercial Banking at CIBC Michael Nicoló, Partner at RSM Canada LLP To see a video interview with Khorasanee and Nicoló go to canadianlawyermag.com/videos

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