Great managers not valued, awful managers not held accountable.
Sometimes a meritocracy, but often not...its a very political, very lean, organization where dissent is not tolerated.
Commercial (Sales/Marketing) running around in circles - lots of work, little productivity and talent (Global MBAs and Global Management Trainees) fleeing fast...incredible turnover even among the most privileged employees. And if you aren't recruited from a top school into a training program...you're a second class citizen at best.
Everyone paid at 80% of market rate, and bonus payout in US usually around 50%, if lucky.
Work life balance? Nope. Senior management often heard saying to treat employees like slaves.
Awful onboarding (many employees spend two weeks trying to get a computer working and gain access to basic systems) and while some HR is great, others create a culture of fear.
Lack of investment in the basic tools needed to do our jobs well.