Download BarkerGilmore’s 2023 Report to See General Counsel Succession Data
BarkerGilmore, a boutique executive search firm recognized for helping companies build world-class legal and compliance departments nationwide, released its 2023 General Counsel Succession Report today. The data was collected from a random sample of General Counsel throughout the United States via an online survey administered in September 2023.
“General Counsel succession planning and recruitment are imperative exercises to ensure a strong strategic advisor is leading the in-house team,” said Managing Partner Bob Barker. “We are fortunate to have a team of former General Counsel, Board Members, and executive search consultants who understand the complexities of General Counsel succession planning. This report demonstrates the different experiences and nuances of General Counsel that succeeded into the role or were recruited into the organization.”
Key trends revealed by the report include:
Recruited General Counsel vs. Promoted General Counsel Differences
Seventy-one percent of General Counsel were externally recruited for their current role, versus 29% that were promoted from within. The technology industry is most likely to recruit its General Counsel, whereas the industrial/manufacturing industry is most likely to promote from within. Public companies are most likely to promote their General Counsel from within. Private equity companies are most likely to recruit their General Counsel externally.
Promoted General Counsel were most likely to have the position of Deputy General Counsel prior to their promotion. Recruited General Counsel were most likely (51%) to be a sitting General Counsel prior to obtaining their current position.
Executive Coaching and Professional Development
Promoted General Counsel receive more professional development to prepare them for the General Counsel role than recruited General Counsel. While promoted General Counsel receive professional development at higher rates, the same types of development were received by both groups: expanded scope of responsibilities (62% promoted, 55% recruited), increased C-suite and board exposure (59% promoted, 45% recruited), leadership training (53% promoted, 35% recruited), stretch assignments (52% promoted, 28% recruited), executive coaching (43% promoted, 21% recruited).
General Counsel receiving executive coaching are most likely to receive it from an external service provider (81% promoted, 95% recruited). Eighty-one percent of promoted General Counsel found executive coaching to be valuable or extremely valuable compared to 75% of recruited General Counsel.
Outgoing General Counsel
The outgoing General Counsel is most likely to stay in the organization for some period of time with a promoted General Counsel (15%) versus recruited General Counsel (10%). In these cases, the departing General Counsel stayed for over a year 77% of the time for promoted General Counsel and 55% of the time for recruited General Counsel. More often than not, the outgoing General Counsel made the new General Counsel’s job easier (55% recruited GC, 46% promoted GC).
Promoted General Counsel
Sixty-nine percent of promoted General Counsel were made aware of their successor status. Most (58%) found out a year or less before the succession took place. Women were more likely than men to find out about their successor status a year or less before the promotion took place (66% versus 53%). Public companies were the least likely to alert women successors, with 67% having a year or less notice compared to 55% of men. Only 18% of promoted General Counsel served as interim General Counsel before their succession. Sixty-two percent of the time, no other candidates were interviewed when the General Counsel was promoted from within.
Recruited General Counsel
Recruited General Counsel are most likely to learn about their position from an executive recruiter (29%). Thirty-three percent of recruited General Counsel did not have industry experience in their current position at time of hire. The industrial/manufacturing (51%) and technology (42%) industries were most likely to hire General Counsel without previous industry experience. The financial industry is most likely (85%) to recruit their General Counsel from the same industry. Public company General Counsel were most likely to come from another public company (51%).
To view the complete study, download the 2023 General Counsel Succession Report.
About BarkerGilmore
Founded in 2006, BarkerGilmore is a boutique executive search, coaching, and advisory firm dedicated to building high-performing and diverse legal and compliance teams that drive business success.
Our distinguished team of professionals, including renowned General Counsel and Chief Compliance Officers, alongside expert executive search consultants, sets us apart. The combined national reach, established industry relationships, and proven CustomFitSM assessment process ensure we excel in executing the most demanding and high-profile searches. Our team’s broad industry experience empowers us to assist clients in recruiting and developing top-tier talent effectively.
We measure our success by our high client satisfaction rates, exceptional search completion rates, strong diversity track record, and impressive stick rates.
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