The bottom line is this....the harder you work, the more work you are given but that hard work does not necessarily translate to compensation. "Pay for Performance" is what executive management stands behind to explain why raises are not given each year and why bonuses are often less than 50% of target (this is from an already low eligible percentage, 5% or less, of salary). There are NO performance reviews to outline goals or achievements and compensation, including the random "spot bonuses", seems to be at the whim of management. When employees express dissatisfaction, they are told to talk with their manager. HR seems to stay out of the picture.
There are 2 buckets of top talent - those that have been there for years and know all of the random, undocumented components of the system and those that join and leave after 18 months. It is a revolving door.
Executive management is out of touch with the employee base. Executives sit in a special area of the office, have specialized parking (i.e. right next to the building instead of across the street where the "commoners" park), and have access to a dedicated kitchen that's filled with bottled water and soda. Scheduled "all employee" meetings are frequently cancelled. It is extremely rare to see any executive walking around the general employee area.