LEGAL
So you’ve made it to that coveted position? Congratulations! Here are a few quick tips that might get you started off on the right foot. These are also great tips for those who have been a GC for a while or looking to expand their leadership role.
Set aside time to meet with your CEO and board at the earliest opportunity. You want to establish from the get-go what success looks like in their eyes, and how they will measure your success. Identify who your internal clients are going to be and set aside time to meet with them as soon as possible to understand their business units and what they will need and expect from you. Be sure to set expectations.
If you have a team, schedule a team meeting to share your visions for the department with them. Meet with your direct reports to get a clear idea of the status quo, field any questions, and understand their motivations as well as their pain points. Consider how you can best help them grow by playing to – and expanding on – their strengths. Work with them to identify a clear career path; it will pay off in both morale and productivity.
To excel as GC, you need to demonstrate intimate knowledge of your company’s internal landscape from both a legal and commercial perspective. Get hold of an organization chart and keep it at hand. Find out how power is distributed, what the decision-making processes are and how reports are presented. Keep your ears open to what people are saying about the challenges and opportunities of the business.
Notice the nuances of the company culture and lingo. Identify subcultures too – different teams may have entirely different cultures that you must be cognizant of in order to have impact across the board. Bear in mind that the general language in-house is that of business, not law, and you will need to adapt to this in order to be heard, hit the ground running, and secure your seat at the strategy table.
Scour the company’s most recent 10-K, proxy statement and annual shareholders’ report. Review all information regarding products, services, and activities released to the public over the last two years, along with any other SEC filings. Examine the company’s due diligence binder and determine how it can be improved. Review the most recent minutes of the board of directors and each of the major committees.
Meet with your company’s law firms. Share your high-level business goals for the year with them. Determine whether you’re comfortable with them and the value they are delivering. Firms that you trust, that value client service and deliver the highest quality work, should be the winners when it comes to securing your business. Have a discussion with them about your budget, billing guidelines, and ideally, project management techniques.
Consider whether your legal department is utilizing the right technology for optimal performance. For example, do members of your team too often “reinvent the wheel”? Do your attorneys have the tools they need to navigate new terrain confidently? Are the resources they rely on up-to-date? The productivity gains derived from current, comprehensive legal know-how and technology tools can end up saving much more than the cost of implementation.
Make a plan for your first six months, identifying a couple of top priorities that tie in with the priorities of the business. Strategize and identify the foundation needed to ensure you achieve them. Remain open to the inevitability of change, and always be thinking of ways to raise performance and develop solutions, whether your business partners have identified an issue yet or not.
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