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We appreciate the positive Pros perspectives and certainly are in agreement.
Numerous statements are made in the Cons section. We could not determine a succinct method to address them point-by-point. As such, it was decided to make an effort to consolidate the reviewer positions to a few consolidated, salient points and respond accordingly.
Resodyn has had, and continues to have, a very successful business history. Resodyn has grown organically by avoiding the use of debt and investor financing to expand the business, since our inception in 1994. Moreover, Resodyn’s business strategy has systematically evolved from a 100% R&D business operation to a business where more than 85% of our income is now generated from commercial product manufacturing and sales.
That being said, Resodyn has not abandoned its roots and keeps our R&D edge sharpened by maintaining a healthy 15% R&D business mix. Resodyn has a strong/successful history of R&D successes and is committed to the continued development and evolution of new technologies/products into the future. Moreover, Resodyn’s vision for growth into the future includes expansion of our worldwide market presence. Resodyn has sold its equipment to companies in 25 countries and continues to rapidly expand. The business vision is for continued development of new/advanced technology products that are designed to be responsive to market pull in the broad range of industries that Resodyn is privileged to service.
Resodyn has established a business approach that has a flat management structure, preferring inputs and opinions from all of the staff/team members across the organization, rather than having communication going through multiple layers of filtering. Straight talk is encouraged, as well as is the expression of differing opinions/perspectives, with management setting the final direction. We believe the agility and responsiveness needed to respond to technical and business issues is facilitated by this approach.
As an owner, a founder, and the CEO of Resodyn, I do put in relatively long hours. My commitment is driven by a passion to achieve success for the company and its employees. This type of dedication is quite typical of most entrepreneurial owners as they grow their business. I as well as other Resodyn management take pride in our strong staff, new world-class products and high levels of client satisfaction that we have been able to achieve. Moreover, this type of dedication by a company founder is not that unusual.
The hours put in by staff in the company varies from a standard of 40 upward. Some put extra time in remotely and some onsite. The expectations are that the team member completes the work that they agree to accomplish as a project is defined. Hence, there are times when professionals put in additional time to complete the work that needs to be done. This approach is not uncommon in a successful, growing developing small business that is advancing new, world-class technologies, or for that matter, in any business that is doing cutting edge work, such as Resodyn.
Resodyn understands that work/life balance is an important factor to sustain and grow a business and care for employees. There are some staff that put more time into their work at Resodyn, not because it is demanded, but for various reasons that are primarily attributable to self-motivating/personal expectation factors, developing new skills, etc. Because Resodyn is an entrepreneur-style company, when productive outcomes occur from these efforts, in particular the extraordinary efforts that contribute to Resodyn successes, the staff responsible are both recognized and rewarded.
Resodyn has a generous benefits, including medical (Resodyn pays the premium for employee and family), 401(k) (with substantial Resodyn contributions), profit sharing, annual bonus, 3 paid weeks annual personal time off (with growth at year 6 through 10 where an additional PTO day is added each year), 7 paid holidays, relocation allowance and a life insurance policy. Spot bonuses and raises have been/are provided as exceptional performance warrants.
Resodyn is proud of its culture and sponsors a number of activities for our employees, including: a summer golf/swim/BBQ event for the families; a Christmas party; sponsorship for a city-wide ice sculptor contest; and volleyball and softball teams; to name a few.
The longevity of staff employment at Resodyn is an important asset. In the 20+ years since Resodyn was established, currently, 25 percent of Resodyn staff have double digit years of employment, 30 percent have 5 to 10 years with the Company, and 30 percent have been with Resodyn for 2 to 5 years. The average number of years of employment across all staff is over 6 years.
Lawrence C. Farrar
President & CEO
