Responsible Business report 2023

Statement from Deborah Finkler, Managing Partner

At Slaughter and May, we believe that being a successful business requires taking a long term, sustainable approach. We have a reputation for providing exceptional legal advice. The outstanding service which our clients value goes hand in hand with the firm’s commitment to create a positive impact on the world in which we operate.

The foundations of our excellent client delivery are our people and our culture. Slaughter and May has a strong set of values. This year we codified these for the first time into a framework of four principles. These set out our commitment, not just to our clients and the firm, but also to our colleagues and the society in which we operate, that we will demonstrate:   

• the highest of standards;
• independence of thought;
• collective endeavour; and
• respect for all.

These values will continue to guide decision making across the firm.

It is in this context that we are proud to present the progress we have made against our Responsible Business strategy in 2023. Our objectives in this space are fundamental drivers of our business planning, ensuring the firm benefits from a rich and diverse set of perspectives, and can contribute to the health of the planet and of society. In a world of increased uncertainty and complexity, businesses have a clear role in facilitating the systemic change that our stakeholders want to see. Slaughter and May is proud to play its part.

Thank you for reading this report.

Foreword from Uzma Hamid-Dizier, Director of Responsible Business

Welcome to our fourth report which provides a high-level snapshot of key statistics that show progress towards our responsible business commitments and spotlights on activity that has taken place over the past year. It comes against the backdrop of a rapidly shifting global landscape, which has become a fixed feature of the world that we operate in. This complex and evolving landscape needs to be carefully navigated to maintain our position as a successful, modern and responsible business. It poses questions about continuity and transformation and we, like all businesses, are alive to this.

A key highlight for me this year was becoming the first major law firm to set social mobility targets in the UK to increase the number of individuals from lower socio-economic backgrounds joining and staying at our firm. This work is important as it acknowledges that amongst the Organisation for Economic Co-operation and Development (OECD)’s member countries the UK ranks in the lowest decile for upward social mobility. Furthermore, research shows that a lower socio-economic background is the biggest barrier for individuals to access and succeed within the legal sector. As a business, our people are our biggest asset and having access to the best available talent, from a diverse range of backgrounds, is critical to the firm’s sustained success.

These targets build on the work we have been doing over the last decade to upskill, inspire and equip young people from these backgrounds to pursue a career in law and to think of us as their first employer. We have an action plan in place to meet these targets by 2033 and I look forward to including updates on how we progress in our annual reports.

There is a growing recognition that all businesses, including ours, need to reassess business as usual and adapt to meet and exceed the expectations of our stakeholders to manage our impacts with positive intent and care.  Mainstreaming this thinking into strategy and operations, governance, decision-making processes, culture and measures of success requires further work of all of us and will be a continuing feature for the year to come.

I hope you find our report informative and interesting.