Management: Built to last
As law firms emerge from the latest dip in the economy, they are re-evaluating the policies they embraced in the downturn - particularly those related to the laying-off of staff. Tim Skipper looks at how they can keep their people going forward
It is not that long ago – two years at most – that we were immersed in the doom and gloom of the downturn. There was little to be chipper about in a legal services market. Front page stories in the legal trade magazines were all about redundancies and compromise agreements -lawyers and support staff in all types of firm feared for their future. It seemed to be an accepted feature of the legal market at the time. Top line revenues were dwindling, the cost base was at best static and the only route to acceptable profitability was through cuts and rationalisation.
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