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legal team best practices
6 min read

The KPIs of Top Legal Leaders

It doesn't matter what industry or department you're in, data is king. The world is rapidly digitizing, yet Legal remains a field heavily reliant on manual processes, spreadsheets, and basic software. This doesn't exactly jive with today's expectations of General Counsels (GCs) and legal teams. Leadership and stakeholders throughout the business now look to GCs as essential business partners that are critical to growth. 

To embrace a more prominent and strategic role, legal leaders need metrics on hand to showcase how the legal team is helping the business and reach its goals, faster. If you're a CLO or GC, you need to regularly present data to the board or the executive team. Here are some fundamental metrics to showcase your value as a data-savvy business partner.

Highlight Key Accomplishments

Start with the big wins your team has accomplished in the last month, quarter or year. These are easy to digest and don't require an advanced comprehension of legalese to understand their impact. These include:

  • Funding rounds can take months to come together. Once a round closes, you deserve to flex your success. Check out this eBook to learn how GCs can (and should) help funding rounds come together quickly and smoothly.  
  • M&A events always require plenty of heavy lifting from Legal. The transactions involved are complex and time-sensitive, and there is a good chance you understand better than anyone the broader impact. From contract drafting to negotiations and the tax implications, don't be afraid to show off your accomplishments and expertise.
  • Team growth is an easy way to demonstrate your team's momentum and how important Legal is to the business. It's a great chance to shout out your newest team members and their accomplishments.  

Highlight Sales Support and Contract Review Metrics 

Sales reps often get all the credit for bringing on new customers and closing deals. We know that Legal plays a vital role in contract generation, negotiations, and deal approvals, too. Armed with the correct figures, you can illustrate the value of Legal to all areas of the business. Here is a quick and dirty checklist to get you started:

  • # of agreements created 
  • # of version updates 
  • # of redline updates 
  • # of NDAs (Non-Disclosure Agreements) 
  • # of TOS (Terms of Service)
  • # of third-party NDAs  
  • Average total time spent in redlines for agreements 

 

Get Digital

Of course, the only way you can present these metrics is to have access to them. Sales teams have reports from Salesforce or their CRM tool of choice, while Legal has long been seen as a bottleneck for operating out of spreadsheets or standard tools such as Microsoft Word for drafting contracts. While these tools are excellent for office productivity, they aren't built for the unique needs of legal teams and often create a disjointed system that's difficult to manage and track. Accessing modern tools (like LinkSquares) enables you to present impressive metrics and showcase your hard work and contribution to your company. 

Wear It With Pride

Remember: These presentations are an excellent opportunity to show the company that your goals align with those of other teams. The beautiful thing about data is that it speaks for itself. Coming armed with the right metrics is a great way to position yourself as an essential business partner and sales accelerator. 

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