There are newer employer reviews for Overstock.com

10 people found this helpful  

Overstock.com is an example of how poor management affects sound business models

  • Comp & Benefits
  • Work/Life Balance
  • Senior Management
  • Career Opportunities
Current Employee - Anonymous Employee  in  Salt Lake City, UT
Current Employee - Anonymous Employee in Salt Lake City, UT

I have been working at Overstock.com

Pros

Great work/life balance
Salt Lake is a nice place to live
Lot of tech resources available, fundamental business is sound
Pretty healthy gross margins and top line growth is impressive

Cons

Very poor upper management
Middle management is inexperienced
Horrendous expense management
Almost all of the gross margin is lost due to irrational operating, marketing and G&A expenses
Organizations are redistributed too often, business strategies are transient and shaky
No strategic vision whatsoever, company has an identity crisis

Advice to ManagementAdvice

There is a stark contrast in Overstock's management team. If you were to draw a line down the middle, you would see a group of bright, ambitious go-getters on one side and a group of execs with no real experience outside O.co on the other. Product innovation is virtually stagnant and capital management is poor. Overstock's story reads like a b-school case study of a company with sound fundamentals that's handcuffed by poor management.

Doesn't Recommend
Disapproves of CEO

402 Other Employee Reviews for Overstock.com (View Most Recent)

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  1. 6 people found this helpful  

    A lot of Potential

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Career Opportunities
    Current Employee - Anonymous Employee  in  Salt Lake City, UT
    Current Employee - Anonymous Employee in Salt Lake City, UT

    I have been working at Overstock.com

    Pros

    - Growing Company
    - Profitable
    - Work/life balance
    - Smart peers
    - Ability to do solve very complex problems

    Cons

    - Senior Management very reactionary when making decisions
    - Not allowed to do things the right way, have to do what Senior Mgmt wants
    - Many of the leaders only have work experience at Overstock; not enough to know industry standards and best practices
    - Senior Management is over departments they should never even be allowed to get close to. (i.e. SVP of Customer Service also over Marketing)

    Advice to ManagementAdvice

    Start listening to your employees. This is the least bureaucratic bureaucracy out there. Just because you know a lot about one subject, does not mean you know a lot about everything else. Stop making decisions on an employees job when you know very little about what they do.

    Recommends
    Disapproves of CEO
  2. 7 people found this helpful  

    Below average experience with hefty bureaucracy

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Career Opportunities
    Current Employee - Anonymous Employee  in  Salt Lake City, UT
    Current Employee - Anonymous Employee in Salt Lake City, UT

    I have been working at Overstock.com

    Pros

    Nice coworkers and one of the better views.

    Cons

    The bureaucracy is insane. You practically have to get your hands stamped everytime you lift a finger to do something. Senior management is getting better, but it feels like only a handful are qualified to run a billion dollar business.

    Internal supporting technology is at least 10 years behind, and there is a tendency to just pay the most expensive bidder to make a problem go away.

    Most of the qualified merchandising talent has left in the past year. Most businesses are run by recently promoted lower level employees trying to not screw it up too badly. Everyone is scared to death of layoffs, which happen with no rhyme or reason. Did I mention the bonus structure is nearly non-existent?

    Advice to ManagementAdvice

    Fix your reviews process. It is pathetic. Everyone is afraid of more qualified employees taking their place. Low performers are given low goals that any baboon can reach, but high perfomers are given impossible goals to keep them in their place.

    Hire better. With good talent, you don't have to have pay a bunch of number crunchers and consultants to tell you how to run the business.

    Senior management spends zero time at ground level. The occasional 15 second hello in the hallway is useless. Middle level employees are at the mercy of the the kings and queens of their fiefdoms. There is no safe way to bubble up concerns privately.

    Spend one day a month sitting with employees, privately and at their desks You'll learn a lot more than you ever will talking to other management.

    Stop jumping on the next big thing every month. We need to get it right the first time. Non-stop training for processes that change every quarter kills productivity.

    Doesn't Recommend
    Disapproves of CEO
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