The current recession is drying up monies for diversity initiatives and creating downsizing and cutbacks that many feared would disproportionately impact diversity in the legal profession. Recent data reported by the Minority Corporate Counsel Association (MCCA) and Vault.com substantiates fears that the effects of the recession would undo the gains seen over the past decades. For the first time in seven years, the percentage of minority equity partners remained virtually stagnant while there was a small increase in minority non-equity partners – from 8.5% in 2008 to 9% in 2009. The percentage of minorities hired by law firms at all levels in 2009 was 19%, compared to nearly 22% in 2008. Meanwhile, minority attorneys left their firms at higher numbers in 2009. Minority attorneys represented 13.4% of the attorneys at the firms surveyed, but accounted for nearly 21% of those leaving during 2009.
Aspirations to improve diversity in the legal profession must evolve to reflect changes in our society and recognize economic constraints. Will the current trend have a long-term impact on diversity in the legal profession? What innovations has your law firm implemented to stretch diversity dollars to avoid suppressing the effort and momentum that has been built over the past decades? Does your firm’s budget reflect its diversity values and priorities?
http://finance.yahoo.com/news/Survey-Shows-Law-Firms-law-825134104.html?x=0