Professional firms now need professional management and unless they tackle this in a structured way, they may be unable to access key financial or business information. It is too soon to be able to see the impact of the Limited Liability Partnership option. Many professionals complain of an erosion of job satisfaction. Most are now being subjected to external regulation and controls. It is no longer assumed that professionals can judge their own competence.
Professionals value their independence and standing in society.
Many feel this is under threat. Of great concern is that good professionals young and old are seeing the job they love and are committed to moving away from them. Too many good people are leaving their chosen field or ruining their health trying to do a good job. Never before has money played such a large part in professional discussions. First of all, fees are under pressure.