Companies like these get doomed because they don’t recognize people’s background, capabilities and experience. They have one lens of cost reduction. The truth is person in lower level can only make their contributions that are aligned with their pay grade. You may have heard some people say “ it is above their pay grade”. Person may have abilities but so many people may have thrown stones on someone’s career that title wise you will not see the growth. And the person may stay in the lower role because another phrase you may have heard “it pays the bills”. Do the right thing. Put people in right roles. Re-interview everyone. Listen to them. Then give them roles based on their abilities. Then watch your company reach new heights.
They won’t apply to higher positions because they don’t want to be laughed at. You have to make effort to re-recruit within the company.
Transformation does not happen using traditional methods. Think different, do things differently, re-structure differently.
I did my part, you do yours.