Press Release - April 12, 2004
Lafayette, CA — April 12, 2004 — US-based private companies are better at linking employee compensation to operating and financial performance than publicly traded companies was one result from Syzygy Consulting Group’s Pre-IPO and Private Company Compensation survey.
Recent shareholder proposals and proxy disclosures of publicly traded companies show that Boards of Directors are failing to reign in the excesses of executive compensation. Yet private companies are finding solutions to satisfying shareholders while still paying competitively and retaining key talent — even key executive talent. For example, Syzygy’s survey showed significantly lower employee bonuses when private company revenue or market share fell. The last survey also showed that private companies reduced or eliminated executive stock grants when shareholders lost value.
Syzygy is now seeking private companies to participate in its 2004 compensation survey in order to provide quality data on how these companies attract and retain key talent. “It’s a unique survey,” said David Broman, Syzygy’s CEO, “as it helps private companies understand how employee pay practices truly differ when shareholders control the bank.”
Syzygy’s annual private company compensation survey is completed in strict confidence and is the only executive and key employee compensation survey conducted in association with Silicon Valley’s leading law firms including Cooley Godward, Fenwick & West, Gray Cary, Gunderson Dettmer, Latham & Watkins, Pillsbury Winthrop and Simpson Thatcher. “For over five years our firm is pleased to be associated with a compensation survey of this scope, depth and quality,” said Broman. “This survey is an excellent source to help private technology companies set a standard for establishing thoughtful and fair executive compensation.”
Private technology companies can visit www.syzygyconsulting.com to participate and request updated survey results that are expected in June 2004. The private company compensation survey reports upon the base salary, bonus pay and company stock/stock options provided to 30-plus jobs, including the Chairman, CEO, other executives and employees. A Syzygy compensation consultant can be contacted at 925-284-3669 for more details.
About Syzygy Consulting Group
Syzygy Consulting Group, established experts in high technology compensation practices, serves clients ranging from small private companies to the largest multinational corporations. Syzygy’s customized human resources consulting and compensation design services help clients define and implement Board of Director compensation, establish fair compensation for the Chairman of the Board and CEO, link executive compensation to performance and develop other employee compensation and benefits programs. Syzygy is a registered trademark of Syzygy Consulting Group.
Contact: Brandon Butler
925-284-3669
925-284-0858 Fax
info@syzgyconsulting.com
http://www.syzygyconsulting.com
