Pros
My experience working within the company: I have great colleagues to work with, very experienced in their individual roles. They are never reluctant to help and offer advice when sought. A true joy to work with. My experience with the program: It gives trainees a very good exposure to the overall operations of the company, besides the chance to work on improvement projects which are (sometimes) very exciting. Gives a real sense of ownership to the work you are doing as you see your improvement initiatives taking place and reaping results.
Cons
My experience working within the company: Old, messy management style which is better suited to Generation X. It is easy to be bogged down by the mind-numbing meetings that one has to attend, often with more talking than doing, aimless and dare I say pointless. My experience with the program: It isn't quite like it used to be. Trainees are placed in whichever positions that needed filling (because the older employees left so go figure). The program also lacks proper planning in terms of rotation objective and the value and skills which the rotation is supposed to bring to you. (Yes, it does require some self-initiative on the trainee's part but in this case, the management could hardly bother). Very different policies depending on the region in which you are working (proof of lack of policy alignment) because trainees in the SE Asian region have a monetary value tied to the bonds while our American counterparts do not (not sure about Europe). (Note: HR is very vague about the exact value of the bond so you don't really know how much you are expected to pay should you break it).