Pros

#1 The mission. The only reason I haven't left yet is because of the mission to which I'm attached as a special agent with the FBI. No matter how broken it is here, we do prevent terrorist attacks, catch spies, put criminals in jail, etc... but I would offer we as Special Agents do that in spite of the organization in which we work - not because of it.
#2 The stability. I will ALWAYS have a job here and I'm NEVER at risk for losing it.

Cons

Bureaucracy prevent innovation and upward mobility. Promotions are NOT based on competency, but upon tiime in grade. Often, eneptitude is rewarded with a promotion simply to get the person out of the way. Unfortunately, this still means they were promoted, thereby "checking a box" for career advancement. This is how we get management with no true leadership skills. Often those that would make the best leaders never raise their hand for promotion as "checking the boxes" would distract them from their mission.

Advice to Senior Management

Create an environment where leadership is rewarded, not a "to do" list to become a manager.