Sustainable corporate governance
A new survey of European business leaders shows sustainable corporate governance is key to creating long-term value over short-term pressures.
The COVID-19 pandemic has undermined efforts to focus on long-term value creation, sparking differences of opinion in leadership teams. Yet among stakeholders, a long-term approach to building sustainable value has only gained in importance.
Corporate governance can bridge this gap, and this report identifies five governance-related areas that can help ensure that both short and long-term needs are balanced.
Predictions for the legal function in 2025
The role of in-house legal teams is changing quickly. The businesses they support are going digital. The regulatory environment is getting more complex. Pressure to cut costs is at an all-time high, while standardisation and automation are creating new routes to efficiency and insight.
This article forecasts how these factors will shape the legal functions of 2025. The predictions include:
- Half of the legal team will not be lawyers. The proportion of legal work done by paralegals, data analysts, operational experts and other specialists in the legal function might rise to the point where legal professionals become almost a minority.
- CLM will be as ubiquitous as ERP and CRM. By 2025, every organisation can rely on their contract lifecycle management (CLM) to be the central source of truth for all contracts.
- There will be no line between Legal Tech and Tech. Like medical tech and fintech providers, legal tech providers will likely either cease to exist or be subsumed by bigger players with broader offerings.
- Reading data will be as important as reading legal terms. For example, with all procurement, sales and other contracts processed and negotiated on one platform, data can be extracted to show the typical results of standard terms and deviations, enabling legal teams to identify opportunities for improving future contracts.
The future of work after COVID
McKinsey & Company
The impact of COVID on work, the workforce, and the workplace will persist after the health crisis has subsided. This research examines how the trends accelerated by the pandemic may reshape work in the long term.
It explores these changes in eight countries that account for almost half the global population and 62% of GDP.
The research defines ten work arenas that group occupations according to their proximity to co-workers and customers, the number of interpersonal interactions involved, and their on-site and indoor nature.
It finds that jobs in work arenas with higher levels of proximity are likely to see greater transformation after the pandemic, triggering knock-on effects in other work arenas as business models shift in response.