Poor executive leadership driving declining performance and culture
Pros
Employees generally want to do the right thing. Benefits are great!
Cons
This is difficult to type out as Medtronic once was such a wonderful company. Medtronic is a biotech company that has stopped innovating. For a while acquisitions were enough to keep us on the leading edge but that has stalled. Since new launches and acquisition have stalled, Finance has taken over the business. This impacts everything from business-level decisions to increasingly automated "merit" increases. Not sure if it's a symptom of finance-focused operations or not, but politics and optics have taken over as the "main thing" with executive leadership. This has bred a pervasive culture of fear where it's better to "not rock the boat" than address issues and problems head on. As a result, share price is declining and competition continues to gain ground on us. This perpetuates the negative cycles mentioned above. RTO has been mandated as a "rules for thee, not for me" approach where execs are often remote dictating policy for others, often in roles that are better suited as remote.