I have been working at TASC full-time (More than 3 years)
The biggest overall pro is the openness of top-level management to share information on the state of the company and how it impacts the employee. Management has gone out of its way to be open and transparent with the company's business. TASC also recognizes work-life balance is important to employee retention. TASC still enjoys a reputation for providing high quality engineering services. Overall, it is a good place to work during this low point in Government contracting.
Benefits are taking it on the chin. The company has gone two years without contributing to the profit-sharing benefit (standard is 3% of one's pay put into the 401K). The company has also reduced 401k matching benefits and vacation accrual. Health care costs doubled over the last year but, in fairness, one has to attribute that to Obamacare and its gruesome regulations. Given that Government is now looking at minimum cost as opposed to best value, companies have been under pressure to reduce their rates. The company has not issued raises in two years, but is providing retention bonuses to its higher performing personnel. In defense of the company however, this is happening all over, and one can probably expect this to be the case until 2017.
Advice to Management
Consider taking the money that might go for pay raises and profit-matching and putting that into a bonus pool, so that bonuses can be awarded to even your average contributor. In this challenging time, a retention bonus would probably help reduce employee anxiety about not having a pay raise over multiple years.
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