2021 Members Meeting – Parker Analytics Resources
Below, please find meeting resources from Parker Analytics related to topics covered during the presentation and panel discussions. A recording of the meeting will also be available soon to view on our Members Only page.
Parker Analytics Talent Selection Algorithm
The Parker Analytics Talent Selection Algorithm (TSA) empowers law firms to use empirical and quantitative evidence to advance equitable talent selection. The TSA increases the share of high performing lawyers, retention of entry level and lateral hires, and the number of women attorneys and attorneys from underrepresented demographics.
The TSA process is non-invasive. Time-of-hire success, retention, and practice area inclination predictions are based on a firm’s historical data and sophisticated statistical models and reflect the firm’s unique culture. Relying on TSA predictions gives recruiting teams confidence in expanding conventional selection criteria.As part of the TSA process, Parker Analytics identifies historical asymmetries in the business system that adversely impact underrepresented groups. The final TSA is designed to mitigate asymmetries and provide equitable predictions that increase the share of high performing lawyers hired from underrepresented demographics.
Parker Analytics Diversity Scorecard
The Parker Analytics Diversity Scorecard was developed in response to the commitment of Corporate Legal Departments to increase the diversity of external teams providing legal services.
Legal Departments who use the Parker Analytics Diversity Scorecard increase the number of diverse relationship partners, share of diverse lawyers doing high-quality legal work, diverse representation in firmwide leadership positions, and diversity firmwide.
The Parker Analytics proprietary legal industry data set – the largest of its kind – allows comparison of firms in the context of all legal service providers and the broader legal market. Legal Departments engage law firm leaders in objective and collaborative dialogue about diversity at their firm, establish priority action items and evaluate progress on an annual basis.
The Parker Analytics Diversity Scorecard was named an Innovation in Diversity by the Leadership Council on Legal Diversity and is the subject of Harvard Law School Case Study.
Advancing Black Lawyers: How GC’s Use Data to Lead the Way
Since 2006, the share of Black partners in AmLaw firms remains unchanged at 2% pointing to a lack of credibility behind current diversity initiatives, including highly publicized industry-wide efforts. Data-driven diversity programs are rare in the legal profession, yet are not difficult to design, implement or use. In this article, Parker Analytics provides evidence of what happens when a General Counsel and 12 law firms rely on data and work together to change the narrative. Specifically, between 2016 and 2019 the share of work performed by Partners of Color increased by 4% and the share of work performed by Associates of Color increased by 24%.
When corporate and law firm leaders commit to define clear and concrete goals based on evidence, data-driven diversity programs work and provide a path forward toward greater diversity and equity in the legal profession.