Executive Director Message – May 2024

May 24, 2024

Hello Team Commerce,

As the school year draws to a close and summer begins, it’s a time of transition and excitement for families and us here at Commerce. We’re wrapping up a fiscal year, completing our pay-for-performance evaluations, and looking forward to some exciting activities. 

One Commerce In-Person Meeting 

I’m happy to announce that we are holding our in-person One Commerce Meeting on Thursday, June 27, at 9 a.m.  It will take place at the Capitol in the Hall of Governors. This is an excellent opportunity for us to all connect in person and enjoy the beauty of our Utah State Capitol Building. We are fortunate to have Lieutenant Governor Henderson joining us as our keynote speaker. She will talk with us about the pivotal role of public service and the immense value it brings to our community—and our economy. 

After our One Commerce meeting, we will take headshots of all employees. These photos will be used to build an internal directory on the Knowledge Base. 

Additionally, we have arranged guided tours of the capitol for those interested. Spots on the tour are limited, so please sign up in advance. You can have your headshot taken after the tour. 

Quarterly Activity 

Ahead of the Paris Summer Olympics, we are hosting our own competition! The Commerce Olympic Games will take place on June 12 at Liberty Park. Join your teammates for a fun-filled day with a bit of friendly competition. There will be volleyball, kickball, cornhole, and bingo. Winners will then be entered into a drawing for OA. And don’t forget to dress the part! The outfit with the best Olympics theme (bonus points for 2002 Salt Lake City Games apparel) will also win tickets for the drawing. Sign up to compete here. 

While participation is optional, we will close Commerce at 2:00 pm to enable all employees to join the activities. Alternatively, you may stay and work, or use your OA time to leave early.

Potential Pay Increases

As we approach the end of the fiscal year and the beginning of summer, our team at Commerce needs to know that your hard work throughout the year hasn’t gone unnoticed. With pay-for-performance evaluations wrapping up, you can anticipate a one-time performance-based incentive, averaging 2.5% of your wages over the past six months, starting from January, to be included in your July paychecks.

All employees can also expect a 3% cost-of-living adjustment or COLA in July, as well as an average pay-for-performance incentive of 2% for those who rate as successful or exceeds expectations. You will see these further increases in your August paychecks. 

For those of you keeping track, this means that employees will have averaged an additional 7.5% increase since January by this coming August—13% since last July! This is a testament to our commitment to rewarding dedication and effort. 

Your commitment to excellence defines us at Commerce, and we’re eager to celebrate that with the bonuses you’ve earned through your performance.

Construction and Division Moves

You may have heard whispers about possible division and office relocations in the near future. We have received confirmation from the state’s Division of Facilities and Construction Management (DFCM) about upcoming construction that will allow us to move some of our divisions to new spaces to optimize our workspaces for growth. 

The divisions affected will be Administration, Consumer Protection, Real Estate, and Securities. OPRO will also be relocated in part. Starting this week (May 20-24), these divisions will begin organizing their offices and personal items in preparation for the move. In mid-to-late June, after construction is completed, the divisions will begin moving to their new locations over a two-week period. Securities will move into the current Real Estate space, Real Estate will move into the current DCP space, and DCP will move into Securities’ location.

Content Workflow and Approvals

Our brand is our promise to the Utahns we serve, so I encourage you to familiarize yourself with the updated Content Development, Review, and Approval Guide on the Knowledge Base. Our collective responsibility is to ensure that any document from our agencies communicates our authority and accuracy regarding licensing, registration, and enforcement of commercial laws. As a result, leadership’s involvement in reviewing and approving these materials is crucial for maintaining our integrity and accountability. 

New Roles and New Faces

I also want to take this opportunity to congratulate Adam Watson on becoming the new director of the Division of Corporations and Commercial Code. Adam has been here at Commerce for over a decade, and he brings an extensive background in managing investigation teams and a dedication to public service.

Finally, I’m excited to introduce Señor Protector, the newest member of our Scamalot Knights.  You may have already spotted our new ads on social media about crypto and business opportunity scams. We aim to broaden our outreach to the Spanish-speaking community, empowering them to spot fraud and defend themselves. Stay tuned for more Señor Protector ads coming soon. 

Thank you for your hard work and collaboration this past fiscal year. Keep up the dedicated work and excellence that characterizes Commerce.