> To an outside observer, the scene might have appeared like a slightly tense version of your average corporate town hall. But within Exxon, famous for its top-down, buttoned-up, authoritarian culture, where employees rarely challenge their superiors, and certainly not in an open forum, the moment had the strong whiff of rebellion. As Keillor bristled, other managers stepped in to take some questions, deflecting attention from the boss. But eventually, Keillor had had enough and snapped.
> If you want to be a “hotshot” and triple your pay working for Amazon, then go right ahead, the people recall him saying. “Good luck to you.”
> Rather than be humbled by the scolding, staffers began circulating memes mocking the event in private chat groups, which rapidly spread across the company. One depicted a long-term career at Exxon as a car hurtling off a highway. Another compared the awards ceremony to a piece of tape used to patch a leaking barrel of water. Others suggested it was about time employees take Keillor up on his advice and quit.
> A year and a half later, even as its stock surges again and Exxon makes more money than it has in its 140-year history, the company has experienced the highest attrition since its merger with Mobil in 1999. Of the 12,000 departures globally in the past two years, less than half were from layoffs. “Like nearly every company, attrition increased in the last two years, but we don’t see that as a long-term trend,” Exxon said in a statement. “Importantly, we are seeing good results when hiring top talent for roles throughout the company, at entry-level and for senior executive positions.”
> But a Bloomberg Businessweek investigation involving interviews with more than 40 current and former employees (many of whom requested anonymity because Exxon hasn’t authorized them to speak publicly), as well as reviews of dozens of internal documents, reveals one overriding reason talent is fleeing: a culture that’s increasingly out of step with the world around it. Those interviewed describe an organization trapped in amber, whose insular and fear-based culture—once a beacon of corporate America—has become a drag on innovation, risk taking, and career satisfaction. Although many expressed pride at working for an industry leader, they were also frustrated by how slow it was to invest in some of the energy industry’s biggest breakthroughs over the past decade, including shale oil and low-carbon technologies, making it a place where the best and brightest no longer want to spend their best years. “I was bored at my job,” says Avery Smith, who earned more than $100,000 a year as a data scientist right after graduating from college and quit last year, echoing what many other former employees told Businessweek. “I was pretty fed up with not innovating.”
> Exxon’s performance ranking system, which pits employees against each other, dominates the day to day. Subordinates are told not to speak out against their bosses in meetings for fear of being placed at the bottom of the rank and pushed out. Employees are reluctant to raise problems or speak freely about environmental issues. Senior managers too often promote people who look and sound like themselves at the expense of technical experts willing to deliver hard messages, and some employees of color say they’ve been marginalized. “Agreeability to senior leadership has become more important than capability,” says one executive who left the company last year after two decades. “Unfortunately this accelerated during the pandemic.”