Letter from the editor: Onwards and upwards?

Spring has well and truly sprung in these past few weeks and as the season of rebirth gradually inches into Summer it seems fitting that this has coincided with the birth of a new craze among recession-watchers – that of ‘green shoot’ spotting. Yes, it seems that the phrase ‘green shoots of recovery’ has become the mantra of choice among economists, financial analysts, and journalists the world over, desperate for a sign that the end of the fiscal gloom is nigh.
And yet as UK unemployment rates creep past the two million mark for the first time since 1997, US economists forecast a 2.9 per cent shrink in the country’s economy this year, and a 1.6 per cent shrink predicted in the Australian economy, proclamations that we are now in recovery may be hard to swallow. Only last month the International Monetary Fund (IMF) was predicting that the global recession would be “unusually long and severe, and the recovery sluggish.”
So are these green shoots simply premature optimism? Maybe. But the suggestion remains that the worst is over and a period of recovery may just be creeping into sight.
Surely, then, this is the perfect time for law firms to consider how they will fare when the economy does eventually turn? After a year of redundancy announcements, budget cuts and restructuring, many firms have taken the necessary precautions to emerge intact in a healthier financial climate. But at what cost?
Several firms reacted to the unprecedented economic conditions by putting mentoring, diversity initiatives and inclusion schemes on the back burner. Yet if they were ever serious about retaining staff, now is the time to prove it. Partners with time on their hands should use this period to boost their individual mentoring skills. Nurturing and honing the talent of new associates is the best investment a law firm can make in tough financial times. Those firms that shift their focus from profit-margins to people management and invest in building a varied and happy workforce will emerge from this recession the strongest.
As always, I would love to hear your feedback, or any ideas for features you would like to see in the magazine. In the meantime, I hope you enjoy this issue.

Lucy McNulty,
Editor

Features

Lifestyle: Dealing with downsizing Free
Originally from Women Legal Volume 1 Issue 4:

Case study: Allens Arthur Robinson This article is for subscribers only
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Special focus: Strategies for success: Part two This article is for registered users only
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Masterclass: Body language: Do you know what you are saying? This article is for subscribers only
Originally from Women Legal Volume 1 Issue 4:

Cover feature: WHAT WOMEN WANT This article is for subscribers only
Originally from Women Legal Volume 1 Issue 4:

Profile: Fighting for freedom Free
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Regulars

The last word: Defending diversity Free
Originally from Women Legal Volume 1 Issue 4:

Opinion: A promise of parity Free
Originally from Women Legal Volume 1 Issue 4:

Opinion: Sink or swim? Free
Originally from Women Legal Volume 1 Issue 4:

Thought leader: And the winner is? Free
Originally from Women Legal Volume 1 Issue 4: