As a result of the company’s success last year, there will be no freeze on base salaries in 2010. This does not mean that everyone will get an increase in compensation—many won’t. The current condition of the economy and our industry do not support across-the-board cost-of-living increases.
We’re encouraging our local managers to review the work of their employees, provide consistent feedback, and to highlight and reward outstanding performance. Some employees may get an increase in salary, others may be eligible for a discretionary or spot bonus, and still others may receive an increase in their target bonus. But, increases in compensation will be based on merit.
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