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We believe there are many pros to working at Zayo, one of those being the great people and dynamic work environment. There is a lot of value in creating an environment that fosters teamwork and collaboration -- that doesn’t happen readily with working remotely. This was one of the main drivers behind updating the work from home policy.
As part of our new work from home policy, we will continue to be flexible to accommodate occasional work from home requirements on a needs basis, giving managers discretion to allow flexibility for their direct reports under special circumstances (Dr.’s appointments, home situations, etc.). The new policy was implemented to ensure that employees work primarily from an office location unless their function requires them to be outside a traditional office, or they have an approved exception to the policy. We believe having more of our talented employees collaborating on a daily basis will help us improve our execution and meet our goals.
We’re encouraged by our performance and progress on bonus and restricted stock payouts, with recent payouts higher than previous quarters. We’ve also made changes to our plan based on employee feedback, including adjusting our payouts such that, executives receive less than the average when we have lower payouts and employees who are lower on the compensation grid are paid out well above the average. We have also focused heavily on promoting from within. In 2017, we promoted approximately 10% of the employee base each quarter. Part of the reason we implemented the new work from home policy is to provide people more opportunities for career advancement. These are all topics we recommend discussing with your manager during your next RAD with your manager.