Pros
HNI is member-owned, so the benefits are pretty good and the profit-sharing system is cool (ultimately though, my once-a-year profit share just pays for a grocery run). The company is extremely solid and has paid dividends to its shareholders every year since the 1950's. It weathered the 2008 crash well and will continue to be profitable for the foreseeable future.
Cons
HNI is a holding company for about a dozen subsidiaries ("operating companies"). This gives HNI strong leveraging power, but disastrous focus. The company seems pulled in a million different directions, and on top of that, it's an ultra-conservative company that is highly, highly risk-averse. So it's afraid to go in any one of the million directions it's pulled in, and the result is stagnation. The company frequently finds itself playing "catch up" with competitors, and experiences a high turnover rate as employees grow frustrated and leave. Also, the company doesn't compensate very well. While the CEO enjoys $4-5M/year salary, many of the company's employees struggle to make ends meet. On top of that, they are expected to prioritize work, always, and a healthy work-life balance is pretty much nonexistent at this organization. HNI is headquartered in rural Iowa, so perhaps this makes sense, but a dramatic shift will be needed before the company can expect to attract the incoming workforce (i.e. millennials).