EmploymentHandbook-UpdatedMay2024-2

sole judgment based upon the employee’s and the Firm’s performance, the employee’s tenure, and the achievement of other goals, considerations, and objectives deemed relevant by the Firm. In other words, both the fact that a Discretionary Bonus payment is to be made to an employee and the amount of any such payment are determined at the sole discretion of the Firm for the full calendar year for which the eligibility criteria are evaluated. Performance Management Performance Evaluations Evaluating employee performance is an ongoing process. Throughout your employment, this interactive process will involve formal and informal meetings between you and your supervisor. The emphasis will be on clarifying goals and objectives, reviewing your progress and providing feedback towards meeting those objectives, and discussing development opportunities and career interests. Introductory Evaluations Venable conducts a formal review of your overall performance prior to the end of your introductory period (the first 90 days of employment). Once completed, your supervisor will schedule a meeting with you to review the information and provide feedback. Annual Performance Evaluations and Salary Reviews Annually, employees will receive a formal performance evaluation that covers a full year of performance. Employee salaries will be evaluated and dependent upon the employee’s standing, job performance, total salary increase budget, business needs and other relevant factors, a merit increase may be provided.

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