acbroughton at sjfund.com
09-23-2004, 11:38 AM
FOR IMMEDIATE RELEASE
September 23, 2004
Contact: Anne Claire Broughton, SJF Advisory Services, 919-530-1177
SJF Advisory Services Releases “Beyond Paycheck-to-Paycheck” Report
(Durham, NC) – SJF Advisory Services has released “Beyond
Paycheck-to-Paycheck,” a report which describes tools that companies and
venture capital funds can use to assist low-wealth employees in building
their families’ assets and moving into the economic mainstream, while
contributing to business success.
In the United States, there are an increasing number of working poor –
individuals who work one or more full-time jobs but receive low wages and no
benefits and struggle to make ends meet. These individuals are living from
paycheck to paycheck. Asset-building tools aimed at assisting these
individuals are the focus of SJF’s report. These tools may include
broad-based stock option plans in which all employees benefit from the
success of the company; employee stock ownership plans (ESOPs); matched
savings accounts for first-time home ownership, higher education or starting
a business (called individual development accounts or IDAs); and profit
sharing. The report includes both descriptions of these tools and case
studies of their use and benefit to companies assisted by SJF Advisory
Services and 20 other venture capital funds surveyed.
“An enthusiastic, motivated workforce is critical to our success,” says Mark
Wilson, CEO of Ryla Teleservices of Woodstock, GA, an SJF Ventures portfolio
company. “Broad-based stock options and other benefits are key to retaining
and incentivizing our people.” Ryla provides data collection and follow-on
sales call service for the commercial credit and financial services
industries. The company recently implemented a broad-based stock option plan
for all employees, with assistance from SJF Advisory Services.
Simon Smock, a team leader at SJF portfolio company Salvage Direct of
Titusville, PA, which provides salvage vehicle management services and
on-line auctions for the auto insurance*industry, is also enthusiastic about
stock options. “I like the idea of having ownership in the company,” says
Smock. “Salvage is also open to ideas from employees at all levels, which
helps make us one of the best at what we do.” Smock started at entry level
and has steadily moved his way up over the past four years.
The Beyond Paycheck-to-Paycheck Initiative (previously called Exits and
Employees) was funded by the F.B. Heron Foundation and the Rockefeller
Foundation. The final report can be found on SJF Advisory Services’ website
at www.sjfund.com.
SJF Advisory Services seeks to promote self-sufficiency for low-wealth
individuals by assisting sustainable enterprises to create, retain and
enhance long-term jobs for the residents of economically distressed
communities. SJF Advisory Services works in conjunction with SJF Ventures, a
venture capital fund that invests in expanding businesses in the Cleantech,
business services, and consumer products sectors that create quality
entry-level jobs. For more information, go to www.sjfund.com.
###
Anne Claire Broughton
Executive Director
SJF Advisory Services
400 West Main Street, Suite 604
Durham, NC 27705
tel: 919-530-1177
fax: 919-530-1178
www.sjfund.com
SJF Advisory Services promotes self-sufficiency for low-income individuals
by assisting sustainable enterprises to create, retain and enhance long-term
jobs for the residents of economically distressed communities.
This post transferred from the cdb-l mailing list
September 23, 2004
Contact: Anne Claire Broughton, SJF Advisory Services, 919-530-1177
SJF Advisory Services Releases “Beyond Paycheck-to-Paycheck” Report
(Durham, NC) – SJF Advisory Services has released “Beyond
Paycheck-to-Paycheck,” a report which describes tools that companies and
venture capital funds can use to assist low-wealth employees in building
their families’ assets and moving into the economic mainstream, while
contributing to business success.
In the United States, there are an increasing number of working poor –
individuals who work one or more full-time jobs but receive low wages and no
benefits and struggle to make ends meet. These individuals are living from
paycheck to paycheck. Asset-building tools aimed at assisting these
individuals are the focus of SJF’s report. These tools may include
broad-based stock option plans in which all employees benefit from the
success of the company; employee stock ownership plans (ESOPs); matched
savings accounts for first-time home ownership, higher education or starting
a business (called individual development accounts or IDAs); and profit
sharing. The report includes both descriptions of these tools and case
studies of their use and benefit to companies assisted by SJF Advisory
Services and 20 other venture capital funds surveyed.
“An enthusiastic, motivated workforce is critical to our success,” says Mark
Wilson, CEO of Ryla Teleservices of Woodstock, GA, an SJF Ventures portfolio
company. “Broad-based stock options and other benefits are key to retaining
and incentivizing our people.” Ryla provides data collection and follow-on
sales call service for the commercial credit and financial services
industries. The company recently implemented a broad-based stock option plan
for all employees, with assistance from SJF Advisory Services.
Simon Smock, a team leader at SJF portfolio company Salvage Direct of
Titusville, PA, which provides salvage vehicle management services and
on-line auctions for the auto insurance*industry, is also enthusiastic about
stock options. “I like the idea of having ownership in the company,” says
Smock. “Salvage is also open to ideas from employees at all levels, which
helps make us one of the best at what we do.” Smock started at entry level
and has steadily moved his way up over the past four years.
The Beyond Paycheck-to-Paycheck Initiative (previously called Exits and
Employees) was funded by the F.B. Heron Foundation and the Rockefeller
Foundation. The final report can be found on SJF Advisory Services’ website
at www.sjfund.com.
SJF Advisory Services seeks to promote self-sufficiency for low-wealth
individuals by assisting sustainable enterprises to create, retain and
enhance long-term jobs for the residents of economically distressed
communities. SJF Advisory Services works in conjunction with SJF Ventures, a
venture capital fund that invests in expanding businesses in the Cleantech,
business services, and consumer products sectors that create quality
entry-level jobs. For more information, go to www.sjfund.com.
###
Anne Claire Broughton
Executive Director
SJF Advisory Services
400 West Main Street, Suite 604
Durham, NC 27705
tel: 919-530-1177
fax: 919-530-1178
www.sjfund.com
SJF Advisory Services promotes self-sufficiency for low-income individuals
by assisting sustainable enterprises to create, retain and enhance long-term
jobs for the residents of economically distressed communities.
This post transferred from the cdb-l mailing list