Company: CMA
Filing Date: 2025-02-24
Form Type: 10-K
Source: 0000028412-25-000108
Chunk: 230

Company: COMERICA INC
Filing Date: 2025-02-24
Form: 10-K
Item: Item 1
Chunk 230
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-based bonuses, retirement programs, an employee stock purchase plan, health and welfare benefits, an employee assistance program, financial counseling, paid time off, family leave and flexible work schedules. In 2024, Comerica kept its minimum wage at $18 per hour. Periodically the main components of compensation, like salaries and bonuses, by grade level and position are reviewed to ensure similar positions receive similar pay to the extent other factors can be equalized (e.g., time in position, performance, education). Solicitation of salary history from applicants is prohibited.

Attraction, Development and Retention.  Comerica measures the success of its talent acquisition strategy on speed and quality of acquisition and new colleague retention. In addition, overall performance metrics are tracked for each key business line. Sourcing strategies and support structures are evaluated and modified to ensure that performance targets are met consistently.

Comerica operates and continues to evolve multiple internal programs to support the development and retention of its colleagues, including Comerica University, internal Leadership Development, Emerging Leaders, and Senior Leadership programs designed to develop high potential employees, a Future-Ready Technology skills program to help re- and up-skill Technology colleagues, a Managing Essentials Certificate series for managers and organizational change management learning for all colleagues. In 2024, over 23,000 skills-based titles were offered to Comerica colleagues and an average of around 22 

15

hours of training per employee were completed. Comerica also supports its employees’ involvement in external development programs and volunteerism. Annually, full-time colleagues are granted up to eight hours of PTO, and part-time colleagues are granted up to four hours of PTO annually to use for volunteer events whether related or unrelated to Comerica.

Comerica’s investment in its employees has resulted in a long-tenured workforce, with average tenure of around 11 years of service. Of the approximately 2,216 open employee positions filled in 2024, 65% were filled by external hires and 35% of positions were filled by internal hires. Employee turnover for 2024 was approximately 17%. Comerica plans to launch its fourth enterprise-wide engagement survey in 2025 as the last one was in 2023, with approximately 85% of colleagues participating. Engagement surveys provide valuable feedback on employee sentiment and highlight opportunities to enhance workforce culture and organizational performance. 

AVAILABLE INFORMATION

Comerica maintains an Internet website at www.comerica.com where its Annual Report on Form 10-K, Quarterly