Who knows what 2011 holds for professional firms around the world? There is a little more optimism around the place - but not everywhere.
It will be interesting, though, to see how those who do enjoy something of an upturn react to more positive times. WIll they slip back to the bad old ways of tolerating underperforming partners and staff, and not managing their costs appropriately, or will they maintain the more parsimonious culture that has been forced on many firms during the recent downturn?
Different firms will take different approaches - and that has got to be right. Some, for example, will want to improve the perceived quality of life within their firms, even if that has a negative impact on profitability. Others will want to remain lean and mean to maintain their profitability, irrespective of the impact on office life.
The important thing is for firms to take a conscious decision as to how they manage themselves moving forward. Drift must be avoided at all costs.
James Mendelssohn (jmendelssohn@msiglobal.org)
CEO, MSI Global Alliance
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