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Incentive Compensation Management

Use incentive compensation plans to increase workplace productivity

By May 16, 2017January 16th, 2023No Comments

Productivity in the workplace is essential to company success. As engagement and productivity are already a part of many company’s management strategies, it remains frustrating to many managers and supervisors that productivity levels may continue to drop.

When companies straighten out productivity problems and can engage employees in the task at hand, revenues can increase and business can improve. One effective way to increase productivity at the office is to implement a strong incentive compensation plan. With the right incentive compensation plan in place, workers will be motivated to conduct business efficiently and effectively.

Incentive compensation plans can help improve workplace performance
To motivate workers to increase sales, a company can use an incentive compensation management program, for example. Rather than showing up to the office every day without any real reason to go the extra mile, ICM plans can push workers to bring in higher sales and be efficient with planning their days. An executive can set up a sales competition that rewards employees with the top sales numbers for a week, month or quarter. When team members get to the office each day, they will be motivated to spend their time wisely, focusing on work and increasing productivity and engagement.

Increased productivity is not only good for business – it’s good for employees, too. According to a recent report by a UK research team , 60 percent of respondents said they do not have a healthy work/life balance, and a lack of productivity can make this feeling worse. ICM plans can help employees increase productivity, and as a result, help make them happier and healthier workers.

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Ballast Point Ventures

Ballast Point Ventures is a later-stage venture capital fund established to provide expansion capital for rapidly growing, privately owned companies in diverse industries, with a particular emphasis on companies located in Florida, the Southeast, and Texas. The BPV partners have more than 70 years of combined experience investing in and building high-growth companies in a number of industries, including healthcare, business services, communications, technology, financial services, and consumer goods. BPV has $200 million under management and seeks to make equity investments ranging from $3 million to $10 million.

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Harbert Management Corporation

Harbert Management Corporation seeks to generate superior returns for their investors by identifying and investing in the most promising early growth stage companies in the Southeastern U.S. HMC seeks to capitalize on what it believes are compelling regional dynamics, such as a strong and fast-growing economy, significant research and development activities, and an established entrepreneurial community. The HMC team combines substantial investment, advisory, and operating experience with capital and networking contacts to support great entrepreneurial teams in successfully executing their growth plans. With offices in Birmingham, Alabama; Richmond, Virginia; and Gainesville, Florida, it’s well positioned to partner with entrepreneurs throughout the Southeast.

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KBH Ventures

KBH Ventures was an early investor in Iconixx Software. KBH's investment philosophy plays a significant role in the firm's successful track record. KBH believes in running businesses to be cashflow positive and profitable every month. Startups and companies in a startup mode, such as one that has been purchased in distress, are expected to generate revenue within the first six months and reach profitability within the first 12 to 18 months. KBH also only invests in or acquires companies that are in the startup phase or have less than $20 million in revenues. KBH targets technology companies that offer business-to-business services.

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S3 Ventures

S3 Ventures is an early expansion and growth stage venture firm with $200 million under management. It’s focused on information technology solutions that solve large business problems. S3 also invests in medical devices that improve the human condition. S3 invests in category-defining opportunities. It partners with the team and help focus methodically on what it takes to build a successful company. S3 today helps talented entrepreneurs take their technology and market knowledge and form valuable businesses in a repeatable fashion. Investment sizes start at several million or more for Series A, B, and C financing.