McLean, VA – September 2, 2009 – KnowledgeBank, Inc., an award-winning consulting firm providing human capital management and organizational effectiveness solutions, has launched the 19^th annual Total Compensation Survey of Mid-Atlantic Technology Companies. The survey provides the most comprehensive information regarding competitive market-based salary and incentive data, salary adjustments, cash and equity incentive plans for executives and technical professionals, and trends in human resource practices and employee benefit plans.

 

Technology firms are invited to participate by completing the survey questionnaire no later than October 2^nd, 2009. The data input form is located at www.knowledgebank.us.com. Respondents can download the form and send the completed survey to surveysubmission@knowledgebank.us.com. Participating companies receive a free copy of the summary results in November. Non-participants may purchase the results for $400.

 

The survey is dedicated to serving the needs of small-to-medium size technology companies, including information technology and service firms, interested in obtaining competitive salary and incentive bonus rates for 35 benchmark jobs, ranging from the Chief Executive Officer to Programmer Analyst, Senior Software Developer, Network Engineer/Technician, and Tech Support/Customer Specialist.

 

“We expect to exceed our 30% growth rate in the number of participating companies this year. Given current economic conditions, we believe the results of this year’s survey will provide vital compensation, benefits and HR practices information for our participants in these challenging times,” said Steve Rosenthal, Vice President & Compensation Practice Leader for KnowledgeBank. “Last year, amid rapidly deteriorating economic conditions in the latter part of 2008, the survey showed a rapid decline in salary budgets, with many companies offering no increases at all after many years of average salary increase budgets of 4.5%. With some experts predicting a gradual improvement in the overall economy in the next twelve months, this year’s survey will open a window into the plans of regional technology companies plans for 2010.”

 

The survey is co-sponsored by the following regional technology councils and other membership-based organizations that serve technology firms throughout the Mid-Atlantic region. The co-sponsors include:

Key Results and Findings from the 2008 - 2009 Survey
The 2008 – 2009 survey collected data from 143 firms with total employment of 72,811 and incumbent pay data for 13,878 employees. The survey respondent median revenue was $5.7 million and the median staff size was 24 employees. Nearly three-fourths of responding companies had annual revenue less than $20 million. Average actual salary adjustments were 4.2%, with 2009 projected average salary adjustments of 4.5%.

KnowledgeBank conducted a "pulse" survey in January of 2009 due to the unprecedented changes in economic conditions in the 4th quarter of 2008 to capture changes in projected 2009 salary increase budgets. Overall projected salary increase budgets for 2009 were reduced from 4.5% reported in August/September to 2.8% in January 2009. Additional findings included:Six out of every 10 companies planned on reducing their 2009 salary increases.

KnowledgeBank’s Compensation Practice serves a diverse range of clients in the commercial, nonprofit and government sectors, including technology, professional services firms, government contracting, software, finance, healthcare, real estate, retail, law, life sciences, manufacturing and construction.

KnowledgeBank is an award winning provider of human capital management, organizational effectiveness and consulting services to the commercial, nonprofit and government sectors. The company provides solutions in compensation and benefits, organization assessment and development, strategic planning, change management, performance management, employee engagement and retention, workforce planning, leadership development, coaching, training, compliance, human capital consulting and interim HR leadership. KB was selected by Inc. magazine to its list of fastest growing companies in America in 2007 and 2008, and has been recognized by Washington SmartCEO Magazine as one of the fastest growing companies in the Greater Washington region for the past three years.

Editor’s note: For more information about KnowledgeBank, Inc. please visit www.knowledgebank.us.com.