AI consulting firm hits $1 billion, makes employees part owners

Good morning. Retaining and engaging employees remains a core priority for many companies.

For Synechron, this meant celebrating its $1 billion annual revenue milestone by making every employee a part owner. The private AI and tech consultancy recently announced its offering a universal equity grant to all 16,000 employees worldwide—each will receive $1,000 in restricted stock units (RSUs).

Unlike typical performance- or tenure-based models, this RSU grant is equal for all employees, regardless of location or role. There’s no minimum tenure requirement for the award, which is granted to current employees only. The company maintains separate, performance-driven equity awards as well.

Reaching $1 billion, bootstrapped and without outside investors, is a notable accomplishment, CEO and cofounder Faisal Husain told me. Founded in 2001, the once-small New York startup has grown over 24 years into a global player with offices in 21 countries.

Leadership wanted a celebration of the milestone that reflected the company’s values, Husain said. After considering standard rewards like gift cards or gadgets, they chose a shared equity stake. “It’s the best form of appreciation,” he said.

“We’ve all heard the stories—if you bought $1,000 of Amazon or Microsoft shares 20 years ago, it would be worth a lot today,” Husain told me. Synechron employees could have a similar opportunity. 

Asked if an IPO is in Synechron’s future, he said it’s possible, but, for now, the focus is on growth, innovation, and helping clients through technology’s rapid changes. “We’ve kept the company privately held for 24 years,” Husain said. At some point, things may change, he added, “but we’re not in any rush.”

Leadership sets the culture

The grant ties directly to Husain’s leadership philosophy—it reflects a culture of transparency and inclusivity reinforced by regular town halls and a belief that everyone should share in the firm’s success, he said.

I spoke with two Synechron employees. Roya Shahilow, chief of staff in London for a decade, recalled joining when revenue was just $300,000. “The $1 billion mark felt like a dream in the distance,” she said. “It’s a proud moment to have achieved that.”

Annushree Chute, senior manager of immigration and travel in Pune, India, also with the company for 10 years, echoed that the excitement in the office was palpable when the news broke. Both credit the company’s supportive culture for their long tenures. “Connecting with everyone, from associates to the CEO, is very important,” Chute said. Shahilow added, “Granting these RSUs speaks volumes about our culture.”

Every employee received a medallion as a physical symbol of their shares. Shahilow plans to frame hers; Chute will display hers on her desk.

As CEO, Husain is both reflecting on this achievement and focused on future growth. “Now we have to chart a new path,” he said. “How do we go from $1 billion today to $10 billion? It’s my role to make sure we stay on the winning side.”

Sheryl Estrada
sheryl.estrada@fortune.com

This story was originally featured on Fortune.com