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Kodak employees are breathing a sigh of relief this week after it was announced that bonuses and merit increases are being reinstated after several years’ hiatus. According to Democrat and Chronicle, the incentives are set to be distributed on April 25 and December 5, totaling a 5.5 percent increase over annual wages for hourly workers from 2012. After a rough period for Kodak employees – which included the suspension of bonuses in 2009, the company filing for Chapter 11 bankruptcy, and pay freezes in 2012 -Kodak workers on every level have cause to celebrate. As hourly workers are being compensated the additional 5.5 percent, top executives will be paid a bonus similar to commissions or merit increases, in which funds will be distributed to individuals based on their performance over the last year. Kodak seems to be placing emphasis on bonuses and employee compensation again not only because they are now in a financial position to reinstate the program, but because of the quantifiable benefits of  rewarding workers in this manner. The Harvard Business Review has reported that compensation strategies motivate everyone in the company to excel at their jobs. For executives at Kodak who are operating on a commission-style system, they are encouraged to work as a team and to creatively build an effective and collaborative work environment. For a company like Kodak, which has experienced significant hardship over the last decade, creativity and collaboration are vital. Especially after more than one year without bonuses or incentive compensation, Kodak employees may be more motivated to help the company bring in higher revenues in order to keep business going and maybe even keep bonuses around for next year.

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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 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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