Microsoft

Smart and passionate people are always striving to improve processes and tools. Awesome benefits, especially medical coverage, a free shuttle for employees for commuting, and awesome products. The company is trying to update older-style workplaces, etc.

Manage up or manage out doesn't always apply to everyone on the team. This means they manage out some really solid contributors with a lot of experience just because they don't want to keep moving up the ladder.

The review model doesn't really reward collaboration; it's very competitive.

There's a Dev vs. Test culture. Test is seen as gatekeepers.

More sustainable work-life balance, move to Agile/Lean development, and stop outsourcing. Look at the diversity of your employees and recognize people's strengths versus always trying to work on improving what are seen as weaknesses.