IBM

Although there has been some "brain drain", the overall talent level at IBM is still very high.

Even in a very high-stress and competitive environment (with layoffs always looming), employees are passionate about their work and supportive of each other. The work can be very exciting if you push to stay in strategic growth areas.

The company is run by bean counters, not visionaries. Morale is bad, mainly due to upper management's poor direction.

The constant layoffs create a specter of uncertainty, therefore employees are regularly grooming their resumes and looking for other opportunities (hence you lose the best employees).

There is a lack of resources to deliver with high innovation and solid quality, whether due to a lack of equipment or always being understaffed.

Wall Street has been telling you for quite some time: we don't care about your earnings per share anymore.

Work on R&D, innovation, market share via quality products, and employee morale (which leads to attracting the best talent).

Stop focusing on next quarter's earnings. Think 3-5 years out.

Be willing to bet current earnings on funding a better future; otherwise, this company will slowly die.

Stop cutting employee perks that save very little (like free coffee, etc.). They hurt morale.

Morale is hard to quantify, but having a workforce of happy/appreciated employees is huge. This is a case of bean counters being penny wise but pound foolish.

Morale is a real entity that you must do a better job of "accounting" for.