Wednesday, August 7, 2013
FACTS ABOUT EFI’S EMPLOYEE PERFORMANCE EVALUATIONS
- The Enterprise Florida Board reviews, evaluates and approves the company’s salary and employee performance pool policy. The Board of Directors does not determine individual employees’ bonus amounts. Decisions on individual performance awards occur internally among management staff based on organizational, departmental and individual performance. The Executive Committee recommends and the Board approves the total annual payout pool, which is funded through private investment.
- The Board’s Executive Committee, however, does make a recommendation to the full Board for the president & CEO’s annual performance award, which is based on a pre-determined formula that includes company performance and a performance evaluation interview. The full board considers and approves the CEO’s annual award at its public board meeting.
- EFI’s enabling legislation establishes that, as a public-private entity, the organization is not a unit of state government, regardless of the fact that EFI receives some state funding.
Facts about the Employee Performance Pool
- This employee performance pool prospect has enabled Enterprise Florida to attract and retain highly qualified professionals and maintain a high-performance culture.
- State/public dollars are not applied toward performance award payout.
- The award is performance-based, provided for exceptional performance and is not guaranteed.
- Staff does not receive annual merit pay, and the award must be earned through outstanding performance. Again, it is awarded only when private funds are available.
- Performance awards are given based on goals set annually by EFI leadership.
- Enterprise Florida is not a state agency. Only two Enterprise Florida staff members are leased from the state. No other members of EFI’s staff are on the state payroll.
Compensation received by Gray Swoope, EFI’s President & CEO:
- Gray Swoope is the President & CEO of Enterprise Florida, Inc., the entity through which he is compensated. He also holds the title of Secretary of Commerce of Florida, for which he is not compensated.
- Gray Swoope receives bi-weekly compensation totaling $230,000 annually. He has the opportunity to earn an annual performance award up to $70,000. He receives a monthly allowance of $600 for an automobile. Swoope is not a state official and is not a state employee.
The Finance & Compensation Committee is responsible for:
- Complete annual performance evaluation of CEO including the calculation of recommended performance award. The evaluation will be in cooperation with the Vice Chair and Immediate Past Vice-Chair or Vice-Chair Elect of the EFI Board of Directors.
- Recommend contract salary and performance awards for CEO to EFI Board of Directors.
- Recommend annual performance pool payout amounts under EFI performance award program for approval by the EFI Board of Directors.
- Review, evaluate and approve the salary and performance policy for EFI’s president and CEO.
- The committee currently consists of:
o Brett Couch, Regions Bank – EFI Vice Chair
o Hal Melton, FLF, LLC – EFI Immediate Past Vice Chair
o Alan Becker, Becker & Poliakoff, P.A. – Finance & Compensation Chair
o Howard Halle, Wells Fargo Bank, N.A.
o Bob McAdam, Darden Restaurants
o Gene Schaefer, Bank of America N.A.
Facts about EFI’s Board of Directors and the Approval of Economic Development Incentives:
Enterprise Florida’s Board of Directors has no role in evaluating, approving or granting economic development incentives of any kind. Decisions to award economic development incentives are based on the economic benefit of the project, not membership on the Board of Directors. Economic development incentives are negotiated by the staff of Enterprise Florida and approved by the Department of Economic Opportunity, an independent state agency.
Facts about EFI’s Private Funding:
For fiscal year 2013 (July 1, 2012-June 1 2013) Enterprise Florida did in fact meet its private funding obligations under Florida law. Please note, for FY13, 78 percent of EFI’s operating revenue came from state funds. That number increases to 83 percent if you include administered and pass through contracts. Over the past few years, the percentage of EFI’s operating revenue from state funds ranged from 70 percent (last year) to 88 percent in prior years. However, this number included administered and pass-through contracts. The 95 percent figure erroneously reported by “watchdog organizations” comes from very dated records.
The Enterprise Florida match was defined in legislation in 1999, and redefined in 2011. The historical metrics referenced in the Office of Program Policy Analysis and Government Accountability (OPPAGA) report 98-31 have not been EFI measures since that report and are not comparable to measures existing up to 2011. Until 2011 in-kind contributions were applied toward the match as allowed by the Legislature. The Legislature eliminated the in-kind component in 2011, and since then Enterprise Florida has advocated for its inclusion. For more than 10 consecutive years of its 16-year history, EFI achieved its legislatively defined match.