b'BACK TO NAVIGATIONBusinesses with more diverse workforces also better reflect the increasingly dynamic make up of their local and global customers and stakeholders which improves working relationships and effectiveness.International research conducted by Acritas Research found that diverse teams earn twenty-five per cent more revenue and are fifty per cent more likely to achieve a perfect ten performance score. Their client satisfaction ratings are also more than three times higher.The report also concluded that a lack of diversity is detrimental to long-term financial success for law firms.Effectively managing diversity and inclusion also assists law firms to: comply with applicable legislation and regulationalign with increasing client diversity and expectations and sustain a changing professional profile to attract and retain a better and more responsive workforce. At Law Firms In May 2015 the Law Council of Australia established the Diversity and Equality Charter recognising that treating all people with respect and dignity benefits the legal profession and the community as a whole. All Australian state law societies and Bar Associations have adopted the Charter and some provide additional resources and support to promote diversity in law firms and other organisations including the NSW Law SocietyDiversity and Equality Charter.Following the call from the Australian Human Rights Commissions July 2016 Leading for Change guidelines, eleven AusLSA members from the Managing Partners Diversity Forum signed a cultural diversity pledge embracing the guidelines and committing to sharing ideas and gathering data on how to increase diversity in leadership. This year these firms followed through on their commitment by conducting an in-depth survey tracking cultural diversity data at partner and senior leadership levels; reviewing position descriptions and key competencies for senior leadership roles; and sharing experiences in relation to the effectiveness of programs such as unconscious bias training to overcome barriers to progress. The group will share information about the trends within their firms and with others in the group.2022 AusLSA Member PerformanceLaw firms acknowledge their responsibilities and the benefits of improving diversity within their teams and leadership. The AusLSA Sustainability Frameworks values of diversity, equality, respect, and inclusion are highly consistent with the legal professions values of justice, integrity, equity, and the pursuit of excellence. This year 90 per cent of AusLSA reporting law firms had a policy in place, including 5 per cent with one in development, to specifically outline their diversity values and commitments. INITIATIVES Membership - Aust Network On Disability 24% Managing Partners Diversity Forum 24% LCA Diversity and Inclusion Charter 45% External D&I programs and/or forums hosting 55% Membership - DCA 66% Staff Surveys - D&I 68% Recruitment and promotion for D&I 79% Training - Awareness and unconscious bias 84% Internal D&I networks or committees 92%Participation 0% 20% 40% 60% 80% 100%29'