Innovative Interfaces, Inc Employee Reviews about "private equity"

Updated 22 Jul 2019

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2.9
45%
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55%
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Innovative Interfaces, Inc General Manager Yariv Kursh (no image)
Yariv Kursh
2 Ratings
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Reviews about "private equity"

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  1. Helpful (11)

    "Not a place that enables you to take pride in your work"

    2.0
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Current Employee - Support in Dublin, Dublin
    Doesn't Recommend
    Neutral Outlook
    No Opinion of CEO

    I have been working at Innovative Interfaces, Inc full-time for more than a year

    Pros

    - People are very nice - Centrally-located offices (with parking)

    Cons

    - As others mentioned, very top-heavy with management that ruminate on problems you'd think would be standard processes by now - Private equity ownership is singularly focussed on extracting value, which is fine, but doesn't always translate to being a nice place to work - Senior management team gets replaced every few years

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  2. Helpful (25)

    "Stay Away"

    1.0
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
     in Walnut Creek, CA
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

    I have been working at Innovative Interfaces, Inc for less than a year

    Pros

    Unlimited PTO if/when you can take it. Flexible schedule. Solid and responsive HR team. Investment in new technology and employee equipment

    Cons

    Upper management seems to only care about turning a profit. Worker morale has taken a back seat to ensuring the private equity company makes their money back. It's a part of business, but it isn't something I would choose to be a part of moving forward. Two rounds of lay-offs over the last two years and staffing levels have never been corrected. It isn't that the company wasn't making money; just that the bottom line was too high for the private equity apparently. This company operated for many years prior to them getting here with solid staffing numbers, happy employees, and a great company culture. Their attempt to "fix" things has hit a serious snag. My department lost just under 50% of the staff. Senior Management expected the same amount and quality of work to be produced. I would go home and be unable to think from the long, stressful days and received no training, no compensation, or even a formal hand off for the additional responsibilities. If you come to this company and your team member leaves expect the same result. Mismanagement by the previous CEO forced the board to place someone from JMI at the head to try to right this ship taking on water. A lot has been promised, but with private equity calling all the shots it takes MONTHS to get anything effective done. Its a bureaucratic nightmare. Lastly, there is a mass exodus of talented people leaving the company. In their place are people who do not know all of the details of their jobs due to the amount of accumulated knowledge that left with the talent. This causes so many problems and will continue happening until upper management can determine a way to keep their employees happy.

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  3. Helpful (28)

    "The new normal, I guess."

    2.0
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Current Employee - Anonymous Employee in Syracuse, NY
    Doesn't Recommend
    Neutral Outlook
    No Opinion of CEO

    I have been working at Innovative Interfaces, Inc full-time for more than 3 years

    Pros

    The people are the best part of this job, far and away. I love my coworkers. The combination of library and computer backgrounds makes for an amazing bunch. Since we got bought by the larger company, a lot has changed - there are a lot of new faces as they hire new people here instead of in California where they'd have to pay them more, and many great people either left or were laid off. But the team we have here and even middle management are really solid characters. I feel like they have my back and commiserate with our issues. I love my work. It's interesting, it's engaging, it's challenging.

    Cons

    Yeah, it's clearly obvious that once private equity happens, the new goal is not customer satisfaction or quality products but the bottom line. That's not revolutionary news, it's just an inescapable reality. Middle management is totally on board with us, but it's easy to see that upper management are not playing the same game at all. There is a major divide in interests. Again, I'm not saying anything shocking here, this is business as usual. We all come to work every day knowing this, and we do make the best of it, and we like our work, when we can concentrate on doing it. As a smaller company we sometimes got a bonus, but even in lean times we got a gift card to our local grocery stores for Christmas. Our old president really, genuinely cared about each and every one of us, and that was apparent at all times. The first year we were owned by the larger company... we got a water bottle. We were promised our benefits would be the same or better after the acquisition, and then from the sound of it, upper management was genuinely surprised at all the benefits we had. Those went bye-bye. Sure, health insurance just gets worse year by year everywhere, but our fringe benefits tanked. Remember this: a company will never implement a policy that doesn't directly benefit it. Unlimited PTO sounds fantastic: you're no longer limited to just this many days! Take as many as you need! But what it really means is that you no longer "own" your vacation days. If you don't use them, they don't roll over, they evaporate. You will never be reimbursed for the ones you don't use when you leave. You are always beholden to your superiors for final approval for each day - there's no end-of-year "these days are owed to me, so I need to take them." To use a library metaphor, it's like going from ownership to a license model: it's sold to you as an improvement, but all it means is that you no longer have something that's yours. There are always strings.

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  4. Helpful (8)

    "Was a good place..."

    4.0
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
     in Emeryville, CA
    Doesn't Recommend
    Neutral Outlook
    No Opinion of CEO

    I worked at Innovative Interfaces, Inc

    Pros

    Good mission--serving libraries!--and nice people...

    Cons

    who were mostly laid of by the new private equity owners. Watch for them to sell out soon, they've almost wrung out all the money.

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  5. Helpful (21)

    "Depressing, frustrating place to work"

    1.0
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Current Employee - Anonymous Employee in Emeryville, CA
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

    I have been working at Innovative Interfaces, Inc full-time for more than 5 years

    Pros

    I'm surrounded by smart, nice, hard-working colleagues who genuinely care about libraries. Unlimited PTO plan.

    Cons

    I chose to work at Innovative shortly after graduating library school because it felt like a family business and not a corporation. I believed I could still serve libraries by working here, as the company culture was centered around helping libraries. After the company was sold to private equity a few years ago, everything went downhill. Multiple major layoffs in a short period of time eroded any trust employees had for the executive team or board of directors. The employees who remain still care about libraries, but we are deprived of the resources needed to do our work effectively and serve customers in the best way.

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  6. Helpful (25)

    "Started Out Rad, Ended up Sad"

    1.0
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Former Employee - Anonymous Employee 
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

    I worked at Innovative Interfaces, Inc full-time for more than 3 years

    Pros

    When I first started there were some incredibly talented, passionate and generous folks both in management and the general workforce. The work load was reasonable and I thought the mission of supporting libraries was very noble. For many years I didn't realize that we were actually quite powerful and respected for the size of the company and the cost or our products. Even when I disagreed with management decisions, I didn't feel like I was being taken advantage of with respect to work-life balance.

    Cons

    When I left, all of the soulful people had departed, most of them voluntarily. The general demise began with the sale of the company to private equity. At the beginning, it was an exciting time. New leadership, new goals, new products & new investment. There seemed to be an atmosphere of change that was good for everyone. But that didn't last for long. The combination of layoffs, low market rate salaries (unless, I'm guessing, you are an executive), outsourcing to India and unrealistic job loads has made the place miserable, at best.

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  7. Helpful (25)

    "Once Reputable Company Now a Sinking Ship"

    1.0
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Former Employee - Anonymous Employee in Emeryville, CA
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

    I worked at Innovative Interfaces, Inc full-time

    Pros

    Knowledgeable rank & file who know the software and care about the customers. Some of the best people I have ever had the pleasure of calling colleagues

    Cons

    Decisions since private equity takeover have destroyed most of what was good about working here. Before the change of ownership, the focus was very much on library-specific needs. Over the course of the last two years, that has been pushed completely to the back in an effort to acquire competitive companies and bolster the bottom line. Curiously, the image of the company as being dedicated to libraries over the usual dog-eat-dog competition has been ramped up on social media. The customer service department has been laid waste by layoffs and a ticketing system which, while good at tracking numbers to waive in front of investors, is completely inadequate for this company and has mostly only served to frustrate customers and employees alike. The software team has largely been reduced to a cadre of replacements and morale across the company is crippled. After two years of middle management promoting each other while sending invaluable employees packing, they and the "new VP's" are now starting to get the axe as well.

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  8. Helpful (18)

    "A company whose culture and morale continues to degrade"

    2.0
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Former Employee - Software Engineer in Emeryville, CA
    Doesn't Recommend
    Neutral Outlook
    No Opinion of CEO

    I worked at Innovative Interfaces, Inc full-time for more than 5 years

    Pros

    There are many talented software developers, librarians, and others working for Innovative who also happen to be personable and decent people. Some have chosen to stay for 10 or 20 years, which is unusual for a software company.

    Cons

    With the sale of the company to private equity, there has been a wholesale shift in management personnel and philosophy, and most of the decisions that have been made have eroded the culture of the company. There is a very "Office Space"-like quality to new culture, and it's hard to see how Innovative will be able to retain the talent who know this very specialized codebase well. The ultimate goal seems to be the off-shoring of most coding and support positions, which is rational from a management perspective. But if you are in the San Francisco Bay area, be advised that this is a company in a jarring transition, where cutting costs a preparing the company for the next sale are the current priorities. Benefits have been reduced, the culture has become rigid, you can expect to see a steady stream of colleagues heading for greener pastures.

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  9. Helpful (18)

    "Another tale of a good company gone bad."

    1.0
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Former Employee - Anonymous Employee 
    Doesn't Recommend
    Negative Outlook
    No Opinion of CEO

    I worked at Innovative Interfaces, Inc full-time for more than a year

    Pros

    It's a paycheck, for whatever that's worth.

    Cons

    The new executive team is completely clueless and it's hard to tell if it's their fault or if the people working for them are taking pleasure in making them look like idiots. Employees who were with the company when it was bought by a private equity firm remember the "good old days" and hold a grudge against the new management team for taking away the few frills they used to have.

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  10. Helpful (21)

    "Overall Negative Experience"

    1.0
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Current Employee - Anonymous Employee 
    Doesn't Recommend
    Neutral Outlook
    Disapproves of CEO

    I have been working at Innovative Interfaces, Inc full-time for more than a year

    Pros

    The company makes library software and most of the employees, at least the non-executives, have a deep passion for libraries and the services they provide. The company has excellent benefits.

    Cons

    The company has been 100% owned by a private equity firm since earlier this year. The new executives are constantly making changes including recently starting the process of moving many operations to India. This process started with laying off several employees who have been kept on temporarily until they finish training their replacements. This has totally devastated morale amongst the employees. The company has been in business for 30+ years and their technology is somewhat out of date and coupled with very convoluted and complex processes. New employees receive little or no training to deal with this situation.

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Found 11 reviews