KnowledgeBank Launches Data Collection for 2010 – 2011 Compensation Survey of Mid-Atlantic Technology Companies

MCLEAN, Va.--(BUSINESS WIRE)--KnowledgeBank, Inc., a management consulting company that specializes in human capital, organizational effectiveness and learning solutions, has opened data collection for its 20^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.

“Early indicators show more companies plan on increasing their salary budgets for the upcoming year, although they are expected to remain at relatively lower levels than in the previous decade. The challenge to recruit and retain talent in this environment remains high.”

Technology firms are invited to participate by completing the survey questionnaire no later than October 1^st, 2010. The data input form is located at www.knowledgebank.us.com; respondents can download the survey and return the completed form to [e-mail]. 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 technology firms throughout the Mid-Atlantic region, with a particular focus on small-to-medium size companies. The survey provides competitive salary and incentive bonus rates for 40 benchmark jobs, ranging from the Chief Executive Officer to Programmer Analyst, Senior Software Developer, Network Engineer, and Tech Support Specialist.

“We expect to see substantial growth in the number of participating companies this year as the economy shows signs of improvement and more organizations will want the essential compensation, benefits and HR practices information that our survey provides,” said Steve Rosenthal, Vice President & Compensation Practice Leader for KnowledgeBank. “Early indicators show more companies plan on increasing their salary budgets for the upcoming year, although they are expected to remain at relatively lower levels than in the previous decade. The challenge to recruit and retain talent in this environment remains high.”

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:

Northern Virginia Technology Council	Business Alliance for Innovation & Entrepreneurship
Eastern (PA) Technology Council	West Virginia High Technology Consortium
New Jersey Technology Council	Small and Emerging Contractors Forum
RichTech	Pennsylvania Bio
Technology Council of Central PA	Southern Piedmont Technology Council
Hampton Roads (VA) Technology Council	Washington Area Compensation and Benefits Association
NOVA SHRM	Dulles SHRM
Active Angel Investors	Greater Baltimore Technology Council
Tech Council of Maryland	Leesburg Greater Loudoun SHRM
Charlottesville Business Innovation Council	Albemarle-Charlottesville Human Resource Association

Key Findings from the 2009 - 2010 Survey and Looking Ahead

The 2009 – 2010 survey collected data from 100 firms with total employment of 51,076 and incumbent pay data for 6,905 employees. The survey respondent median revenue was $7.2 million and the median staff size was 41 employees. Nearly three-fourths of responding companies had annual revenue less than $20 million. Average actual salary adjustments were 2.4%, with 2010 projected average salary adjustments of 3.2%. Almost half of all participants self-identified as government contractors.

For the 2010 – 2011 survey, we have added five (5) new benchmark jobs and several questions related to compensation & HR practices. The foreword to the summary report will be written by John May, managing partner of New Vantage Group, which has launched five angel investing organizations in the Washington, DC region since 1999, placing funds into more than 50 early stage companies. New Vantage Group innovatively mobilizes private equity into early-stage companies and provides advisory services to both funds and private investors. John's experience in private equity capital over the last 15 years ranges from VC fund management to angel investing.

About KnowledgeBank

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 a leading provider of human capital, organizational effectiveness and learning solutions to organizations in the government, commercial and nonprofit sectors. Our clients include large Federal agencies, state and local governments, Fortune 500 firms and small and emerging companies. We specialize in services that cover the entire spectrum of human capital management and organizational effectiveness to include compensation and rewards systems, benefit program design and analysis, recruitment and selection, performance management, strategic planning, organizational and personnel assessment, change management and transformation, human resource (HR) management, training and employee development, executive and career coaching and mentoring, leadership development, workforce planning and survey design and administration.

KnowledgeBank 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 from 2007 – 2009. In 2008, the United States Department of Agriculture’s Farm Service Agency honored KnowledgeBank with its Small Business Contractor of the Year Award.

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