There are newer employer reviews for Illinois Tool Works

ITW Tax Department

  • Comp & Benefits
  • Work/Life Balance
  • Senior Management
  • Culture & Values
  • Career Opportunities
Current Employee - Senior Tax Analyst in Glenview, IL
Current Employee - Senior Tax Analyst in Glenview, IL

I have been working at Illinois Tool Works full-time (more than 5 years)

Doesn't Recommend
Neutral Outlook
No opinion of CEO
Doesn't Recommend
Neutral Outlook
No opinion of CEO

Pros

Better pay than most companies due to high turnover rate and reputation, good health benefits and 401(k)

Cons

HR had the tax department do a self-assessment survey approximately three years ago. The results came back that the tax department has no guidance in career opportunities and development, no reward or recognition, poor communication, management lacking leadership, no promotions, strenuous and stressful job, and majority of individuals would not recommend other colleagues and friends to work at ITW. The issues remain in existence and seem untouched.

Currently through all the issues at ITW, there is a high turnover rate within the tax department as well as other corporate departments. Within the last 3 years, there are approximately 20 individuals that have left the tax department. In the last 12 months, three vice-presidents of the tax department resigned from their position. Two of the vice presidents came from reputable companies and lasted less than a year at ITW. Staff and management are accustom and unsurprise that individuals are leaving the tax department. To accommodate the high turnover rate, the tax department has approximately 10-20 interns on any given day and consultants are an essential resource.

A bad reputation about the ITW tax department lingers in the business world. The bad reputation has brought a challenge to recruiting talent for ITW. To accommodate the bad reputation, ITW will offer a higher salary then the norm for new employees.

Advice to Management

Try to resolve the issues and build a reputable reputation.

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  1. As time has gone on the big corporate hand is squeezing the life out of it's divisions, promoting mediocrity.

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Anonymous Employee in Philadelphia, PA
    Current Employee - Anonymous Employee in Philadelphia, PA

    I have been working at Illinois Tool Works full-time (more than 8 years)

    Doesn't Recommend
    Negative Outlook
    Doesn't Recommend
    Negative Outlook

    Pros

    Good medical benefits scheme and 401k matching program.

    Cons

    under qualified management, no direction

    Advice to Management

    Learn to communicate, get off you egotistical pedestals,remove you puppet strings before the 80/20 process kills the division completely.

  2. Helpful (1)

    Entrepreneurial, results-oriented company undergoing significant transformation.

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Manager, Strategic Sourcing in Glenview, IL
    Former Employee - Manager, Strategic Sourcing in Glenview, IL

    I worked at Illinois Tool Works full-time (more than 5 years)

    Recommends
    Neutral Outlook
    Approves of CEO
    Recommends
    Neutral Outlook
    Approves of CEO

    Pros

    Best-in-class lean operator, excellent cash-flow, decentralized close-to-customer operating model enhances innovation and relevant customer solutions, a company that welcomes those who enjoy taking risks, intensely-focused on results and will promote you when you show them.

    Cons

    Below-market base comp, bonus for manager-level is below market , transformational initiatives are threatening to change the company's culture.

    Advice to Management

    Consider adding strategic sourcing capacity at the business unit and segment levels instead of adding so much corporate headcount. Be cautious of too much corporate involvement in business units' operational activities. Preserve decentralization. Stay close to the sourcing transformation since many new people have been hired who do not have the context of ITW's culture. Stay close to the business units' feedback on their interactions with corporate sourcing so that the transformation can be managed effectively.

There are newer employer reviews for Illinois Tool Works

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