One of 55 U.S.-Based Firms named to Bloomberg Law’s third annual DEI Framework
Frost Brown Todd (FBT) was among the first firms to sign on when Bloomberg Law launched its annual Diversity, Equity, and Inclusion (DEI) Framework, which scores participants on both their level of disclosure and performance tied to over 85 diversity-related metrics. This year, FBT was again part of a select group of law firms nationally to be recognized as a top performer in the six categories assessed under Bloomberg’s DEI Framework: demographics, leadership and talent pipeline, recruitment and retention, business innovation and strategy, marketing, and diversity and inclusion in the community.
Central to Bloomberg’s DEI Framework is the degree of transparency law firms provide, both internally and in client communications, as it pertains to representative diversity across different positions and whether they have policies, practices, and offerings that evince a strong commitment to DEI and to improving their scores in the six benchmarking categories.
“DEI remains a critical factor for general counsel seeking to engage law firms that reflect their values, and we’ve brought our industry expertise and strength in data analytics to bear in assessing how law firms are performing in this critical arena,” said Joe Breda, president of Bloomberg Law. “Through a demonstrated commitment to DEI, Frost Brown Todd is helping to move the legal industry forward and we’re pleased to recognize their performance.”
FBT has taken several steps in recent years to create a more robust and comprehensive system for tracking key performance indicators related to DEI. This includes dashboards that show demographic diversity in real time, a separate database for client matters, as well as the benchmarking required to maintain FBT’s Mansfield Rule™ Plus Certification. FBT also recently issued its annual Inclusion, Diversity, Equity & Belonging 2022 Report with a “By the Numbers” section providing added transparency concerning the firm’s measurable DEI commitments in areas such as recruiting, advancement, and community engagement.
“We’re sitting down with more and more clients who expect us to speak candidly and realistically about our firm’s approach to DEI,” said Miles Harrison, co-chair of FBT’s Inclusion, Diversity, Equity & Belonging Committee. “And not just in general terms. They want to see numbers and proof points that show we’re doing far more than checking the box, that we’re putting actual deeds and dollars behind our DEI commitments, with the results to back it up. This recognition from Bloomberg Law is a sign FBT is continuing down the right path by listening to our clients and letting the data inform and reinforce different facets of our firm’s DEI strategy.”
Bloomberg Law’s DEI Framework
Bloomberg Law’s DEI Framework provides a platform for standardizing law firm diversity metrics and allows corporations to quickly assess law firms that meet or exceed an established threshold of diversity, equity, and inclusion. Per the framework, law firms’ performance is scored across more than 85 metrics, each associated with one of the six core pillars: demographics, leadership and talent pipeline, recruitment and retention, business innovation and strategy, marketing, and diversity and inclusion in the community. The pillar scores are weighted proportionately and combined to determine the full DEI score. More information.
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