The city of Montreal will serve as host of the 2023 Institute of Corporate Directors (ICD) National Director Conference & Fellowship Awards Gala. The event brings together international thought leaders and experts to discuss how new breakthroughs are disrupting corporate governance conventions and leading to massive transformational change.
One of the main themes at the event is how to manage human capital and workforce talent. Discussions will range from the governance of talent management to the reassessment of how corporate boardrooms oversee executive talent.
Technology and innovation revolutionize talent management
Since the COVID-19 pandemic, most of the corporate world has adopted remote flexible work arrangements as the new norm. Innovative technologies enable professionals to conduct their business from any location in the world. Companies that support remote work and use of innovative technology have a leg up in the talent acquisition and management markets.
In a survey of over 140 business leaders across multiple industries, 94% of respondents said their corporations will continue to transition their workforces towards remote work. They also cited a number of investments that will be necessary to make this transition permanent. High on the list, according to 52% of respondents, is investing in the right software.
Innovative technology can attract the best legal talent
When companies discuss innovative strategies to modernize corporate governance, the discussion must include how to use those same solutions to attract top legal talent. Corporate governance and compliance protocols are core responsibilities of in-house legal teams, so it’s essential that legal entities attract the most capable talent to join their workforces.
Legal professionals appreciate corporate entities that embrace innovative technology designed to modernize corporate governance using flexible workflows. Corporations that cater to those interests and modernize corporate governance workflows have a leg up on both attracting and retaining the best legal minds in the business.
A Thomson Reuters survey found that legal professionals are willing to remain loyal to entities that support more flexibility and autonomy in their work schedules. At the same time, they’re willing to move on from firms or in-house counsels that reject innovation.
Use entity management software as a recruitment strategy
To demonstrate to high-valued legal minds that your corporation is committed to innovation, entity management software is one of the best software investments for the business. Entity management software is designed by legal professionals to help other legal professionals modernize minute book management, streamline clerical processes, and implement effective corporate governance protocols all within the convenience of one centralized system.
One of the most tedious legal responsibilities is clerical and administrative work. In fact, studies have shown that the average legal professional spends nearly 50% of their day on administrative and clerical work.
Entity management software is designed to simplify these mundane tasks using custom built templates housed within the platform. The software is intuitive and automatically converts inputted minute book records into PDF-style documents that can be disseminated to the proper stakeholders. Suddenly, the amount of time spent on clerical duties is dramatically slashed.
Entity management software’s built-in governance templates simplify legal workloads
Issuing and maintaining effective corporate governance protocols protect your organization from significant legal penalties, including the possibility of jail time for senior executives as punishment for serious violations of the law.
Using entity management software’s built-in compliance and governance protocols, your legal team ensures all aspects of the organization are functioning in an ethical and legally responsible manner. The platform uses modules to establish governance and compliance frameworks with documented sequences for how to enforce those protocols.
Within those modules are pre-built sequences that highlight errors, statutory non-compliance, and data-based compliance tasks still pending finalization. Additionally, the platform has easy-to-use templates to create structured organizational charts, compliance calendars, governance workflows, and other processes to enforce the proper systems.