Pros

Recognized for good work.
Friendly Work Environment.
Okay pay and benefits - but nothing spectacular.

Cons

Some jobs created specifically for a single pre-determined person, just because it is offered on their website and they conduct interviews, doesn't mean anyone has a real chance at position.
If hired in as a tech - little chance of advancement.
Management / senior level positions are filled from the outside.

Advice to Senior Management

Stop the nepotism. Give employees a chance to advance internally. Train your people. And get your recruiters off their butts and do their jobs (you've got a pretty miserable HR - no wonder our quality standards for employees is slipping.)