Since the Great Recession, we’ve entered a more sluggish economic period that’s been dubbed “the New Normal” — and it’s been felt especially hard in the legal profession. The competitive market for outside counsel is more challenging than ever, while the pressure inside law firms to generate revenue has also increased. Few would disagree — the bottom line is originating business effectively and efficiently.
But how does that differ for male and female equity partners?
In new groundbreaking research presented here in a white paper entitled, Business Development in the “New Normal”, author Carol Frohlinger, J.D., analyzes data collected from more than 435 male and female equity partners in law firms of all sizes across the U.S. and analyzes origination success.
Her research focused on two questions:
- What activities, roles, resources and attitudes are successful to originate business in the “New Normal”?
- Are there differences between these for male equity partners and female equity partners?
The data revealed a dramatic gender divide and provides insight to explain why the business origination numbers credited to women partners in law firms are decidedly lower than those of male partners. The report also includes evidence-based recommendations from the author for law firms, partners and the legal industry as a whole to follow to erase these barriers for female partners and lift the productivity and profitability of all law firms.