Why Does Anyone Feel Loyalty to This Place?
Pros
For the time being, it looks good on a resume. That will fade as the reality of its work catches up to the reputation it built decades ago.
Cons
The mismanagement of the organization has finally overtaken its reputation. Even when companies were making record profits in 2019, Edelman only scratched out 2% growth. Now, even in this white hot economy, it has to lay off 4% of its workforce. The problem is countless levels of management - at least half a dozen, if not more - that are literally worse than useless. They don't touch client work, they don't bring in new business, and they all have initiatives that are mandatory for employees, distracting employees from new business or client work. Even worse, these levels of management don't address the basic "blocking and tackling" of running a business, like having clear standards for promotions or getting contracts with new clients signed quickly. Apparently, they have never heard that "time kills deals." This all comes at a steep cost. All those levels of management are expensive (as are Richard Edelman's tastes in expensive travel, high-end off-sites, office space no one uses, office remodels everyone hates, etc.), which is why the pay is terrible and bonuses are non-existent, no matter how much money you make for the firm. Promotions are difficult to come by and don't end up meaning much in terms of take-home pay. Add to this a total lack of loyalty to employees. People who have worked at the company for 15 years or more are laid off without so much as an explanation. Senior people -- ones who actually bring in money for the firm, not just "manage" -- are fired and the only way everyone else finds out is a terse "we wish them well on their future endeavors" email. There's not a good rationale for working here. Barring wholesale changes, people should avoid this place, and I imagine an exodus of employees will be coming soon.
