I don't know what the management of the company intends to do to boost employee morale and whether they will do anything about it. Sometimes it seems to me that they don't actually care? The company is experiencing a serious loss of employees who go to better companies where their talent is more recognized and valued. This has been a source of talent for other companies for a while now. Those who are still here no longer have the will to give 120% of themselves like they used to. Sad times.
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Majority of people who can stop such attrition don’t care, as they spend most time in saving their own jobs. Those who do care are so powerless that they do only lip service.
Couple of other factors also play a role,, first the quota system for women and DEI folks, ki--s merit based decisions.
Other factor being mediocrity breeds mediocrity. When leaders in the hierarchy are poor and mediocre , they will build teams too that are similarly poor and mediocre, again ki----g merit based decision making.
The result is what you get; people leave, poor people get promoted , they hire more poor and DEI quota people, in the end making a team of incompetents , resulting in the failure of the company as it is now.