Never before has money played such a large part in professional discussions. First of all, fees are under pressure. This means that professionals have to talk about costs and charging levels with clients. Many are uncomfortable with this. In addition, within firms, cash flow is now an important issue.
Partners have to debate management accounts, outlays and profit margins.
The investment required in technology is considerable and ongoing. Salary costs are also on the increase with staff a significant investment which must be maximised. As a result, profit margins are down with partners working long hours often for declining returns. All of this is putting pressure on relationships with many people suffering from stress and burn out. We find that things are not too dissimilar back in India.