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On the high staff turnover/toxic culture point I don't think...

  1. 7,370 Posts.
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    On the high staff turnover/toxic culture point I don't think this is all doom and gloom.

    Firstly for all we know the glassdoor site is one or two disgruntled employees opening multiple accounts in order to display their bitterness. Possibly as they lost their precious stock options for insubordination.

    Secondly the culture may be great now as the toxic elements may have been removed? They may have been workers from the legacy business of the litigation side who never adopted to the changes and professional direction taken.

    Finally with regard to an inexperienced sales staff and the turnover I can site an example from my work history. I worked at an accounting firm which was owned by large banks during my tenure, a team of 4-5 BDM's were employed on $150k a year minimum. They were completely unaccountable, they blamed accountants for drops in sales numbers as they quality of work was inhibiting their ability to sell which was completely unfounded. They showed a complete lack of ability, they used the word pipeline 78 times in each quarterly update, they never made a meaningful sale, they resorted to getting the bank to make expensive acquisitions and called it a sale!! If any number of us on the ground floor were to have taken over the business they all would have been sacked as a priority and no payout as they never once met KPI's, not even close. That would have saved the business $600k plus and added 50% plus to NPAT, outsiders may be saying they are crumbling but it would have been a sign of accountability and new direction towards growth. The sales team could then be hand picked with go getters on incentive laden contracts who may have actually understood the product. This is one example where a cleanout of large proportions would have been a great move.
 
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