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Thank you for the feedback. As a company experiencing perpetual growth, we acknowledge and proactively embrace our responsibility to consistently identify and respond to areas of improvement that ensure our team is provided a positive work environment, whether onsite or remote. This is accomplished through year-round internal and external training, and established mentoring programs.
During the past year, management has taken steps to address players with demonstrated patterns of overt and inconspicuous disharmony related to behavior, work ethic, accountability, and collaborative efforts. These measures have helped to ensure we maintain an environment that considers the needs of all our people. We are confident these efforts have allowed us to secure dynamic new talent, while also successfully help retain our team of dedicated professionals. A testament to the quality of our culture is that one-third of our team is comprised of long-term employees with five or more years.
All employees are provided annual merit increases, which are consistent with market compensation for a mid-tier CPA firm, based on metrics designed to fairly evaluate various aspects of performance. Our firm tracks billable and non-billable hours. Discrepancies between self-attested hours worked and measurable productivity, participation and professional growth are accounted for when determining increases.
Prior to the COVID-19 pandemic, local employees were hired with the expectation to perform their job duties and responsibilities onsite. In response to the pandemic, though considered an essential business, local employees were, and continue to be, provided the option to work a hybrid schedule, unless their position requires a full-time, onsite presence. As the company grows and the workforce evolves, we intend to continually modify our policies to keep consistent with current employment trends and remote work options.