Skip to main content
Iconixx Insights BlogIncentive Compensation Management

Motivate staff with a dynamic incentive compensation plan

By August 7, 2013January 16th, 2023No Comments

Motivating employees is a key benefit of a well designed incentive compensation plan. If an executive sees that sales are falling behind company projections or that workers seem unhappy at the office, it may be time to adopt a dynamic incentive compensation management program. Each employee is unique and may be motivated by different techniques, but there are a few major aspects of an ICM plan that will consistently drive performance. Keep reading to find two of the most impressive ways an ICM plan can motivate a workforce: Financial rewards A good incentive compensation plan will reward hard work with financial rewards such as bonuses, merit increases or other dynamic and creative rewards such as days off or tickets to a popular event. These financial motivators are the heart of the ICM program, and are often the main driving force in improvement in sales and company behavior. Recognition In addition to doling out monetary rewards, a VP of sales can publicly recognize the hard work that has been carried out by a team member. Whether it’s a company-wide email that is sent around the office recognizing the top salesperson of the quarter, or if it is announced at a company meeting, these positive accolades provide positive reinforcement and help drive performance.

Leave a Reply

Close Menu
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.

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.

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.

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.