Laura Barker Coaching

Have you heard of Doughnut Economics?

Kate Raworth argues that the 20th century economic model of endless growth cannot continue. It will eventually collapse.

While the current economic model has provided the stability to deal with many entrenched social problems such as gender inequality, better health and educational systems, and a healthy political voice, it’s not sustainable.

Raworth says we need a new economic model that integrates social and environmental considerations.

Her new economic model focuses on thriving instead of growth. In this model, the goal is to live within the doughnut, hence, “doughnut economics.”

When you live in the doughnut, you and everything around you thrive. The inner and outer circles become the boundaries that give the balance needed for humans, animals, and the earth to thrive.

Let’s find a way to combine personal thriving with a larger thriving of the earth, economic systems, and society.

I think doughnut economics is the way to go. And it’s not just me who thinks so. The city of Amsterdam created its business plan based on the model in April 2020. https://www.youtube.com/watch?v=Ziw-wK03TSw&t=5s

What are your thoughts on Doughnut Economics, a model based on thriving instead of (endless) growth?

What if firms paid lawyers on a project/case basis OR as a team?

After reading a re-posted Toronto Life article about a female lawyer’s experiences at a prestigious Canadian law firm, I thought to myself there MUST be other ways to reward people monetarily for their work (link to article from my bio).

What I find is, companies (and I’m not just talking about law firms) tinker at the edges of current compensation models instead of going back to basics and asking,

➡️What do we want to accomplish when we reward our employees?

I realize standard practice for lawyers is billable hours. I think this model encourages more competition along with more time spent working AND playing because, yes, as you move up the ladder you’re expected to socialize with current and potential clients during your “off” hours.

So, what do we want to accomplish? And from there, let’s build a compensation model that suits the modern world.

Compensation models should reflect the values of the organization. If you say you value EDI, create a model that reflects it. If your organization values work-life balance primarily, build a total rewards system that supports it. You get what I mean.

What do you think about the billable hours model? Are there any lawyers or law firms out there experimenting with other compensation models?

Jacinda Ardern’s final speech to the NZ Parliament this week exemplifies a style of leadership I admire, one that is heart-based. (Link to her full speech in my bio)

She says, "You can be anxious, sensitive, kind and wear your heart on your sleeve. You can be a mother, or not, an ex-Mormon, or not, a nerd, a crier, a hugger - you can be all of these things, and not only can you be here - you can lead."

It takes courage to lead with heart these days. You leave yourself open to attack. And yet, Ardern has demonstrated this path forward. She’s been attacked. To be fair, most leaders have. It seems to come with the job, unfortunately. But she hasn’t changed who she is.

We all need models to emulate, adjust, and make fit to our own ways of being.

What are your thoughts on heart-based leadership?