Pros
We have a pretty decent mission; democratizing small business software. More importantly we have a pretty awesome team. Fairly basic HR policy that stats and ends with a mission to treat people as... people. We avoid being overly bound by policy and try to do things that make sense.
Cons
Not enough time in the day. Honestly though, the starting compensation is not yet where we are targeting it will be soon. We do try to start people at the low end of the market value of a new employee and then if all goes well, grow their compensation faster than average in the first two years. Typically in year 3 the goal is to have them meet or exceed what they could be earning elsewhere. Compensation is also done in groups and is transparent. So its ok now, but getting better all the time.