Pros
The policies allow for a very flexible work culture. They insist on work completion within the stipulated time and with the expected (or more than expected) quality. The managers do not keep pounding you for an update every now and then and give enough freedom to perform your role as you deem fit.
Cons
The internal employee operations and administration process is very poor. If an employee has to raise something as simple as a reimbursement claim, there are a lot of pains he/she has to bear to eventually get the reimbursement. Another instance would be - no one seems to know how to apply for a VISA, even if it is as common as a US H1B petition. The employee has to run from pillar to post to find out what the procedure is and then implement it. These are some instances of bad back-end administration/operations for employee services.