Key Points
The talent crisis is leading India Inc to increasingly pursue legal experts for the roles of chief legal officers and general counsels as large conglomerates and new-age firms aggressively look to bolster their in-house legal teams, according to board members and company officials...
The scramble for the best and the brightest legal talent has been ignited by a constantly changing regulatory environment, rising focus on corporate governance and ethical standards, and regularly evolving GST structures..
"The chief legal officers' job has become very critical with regulations changing all the time, governance structures evolving, and changes in GST structures," said Shailesh Haribhakti, chairman of audit and accounting firm Haribhakti & Co..
"A whole lot of new software coming into the market digitizing things like litigation management, compliance and the various interaction interfaces is also leading to the need for chief legal officers who have a strong understanding of technology," said Haribhakti..
"The role of a chief legal officer (CLO) in India is much more complex and strategic than before," said Jyoti Bowen Nath, managing partner, Claricent Partners.. "There is a constant need for organisations to attract top leadership talent, leading to pay surge," she said...
