Skip to main content
Iconixx Insights BlogIncentive Compensation Management

Study finds office culture affects business practices

By September 3, 2013June 11th, 2024No Comments

According to a new study, office culture affects more than just morale – it also can change company finances and performance. Allison & Partners released the results of their C-Factors Survey, which gathered responses from more than 200 executives from a wide array of industries.

The survey found 94 percent of respondents said workplace culture affects employees’ ability to make decisions, while 97 percent said it can change an employee’s ability to generate new and innovative ideas.

To increase motivation and improve general office culture, 56 percent of respondents said they had increased emphasis on office culture over the past two years, and 52 percent of executives said they expect that emphasis to increase even more over the coming years.

Incentive compensation plans
One of the most popular ways to improve culture is to implement effective incentive compensation plans. An executive can help motivate staff and make organizational gains by focusing on strong compensation programs that will not only push employees to improve individual sales, but create a more positive workplace environment.

Executives can use incentive compensation management strategies to foster camaraderie and positive workplace experiences by creating group initiatives designed to bring staff members together. For example, an executive can implement an ICM plan that sets up sales competitions between departments or groups, rather than just through individual competitions. That way, employees will be encouraged to get to know their colleagues and to work with them to drive in higher sales.

Another way to improve company culture is by offering more than just financial rewards. While most people are driven financially, it takes more than just money to improve company outlook. Rewards such as days off, the freedom to work from home and other creative motivators will help employees generate new ideas and improve their overall attitude toward work.

Leave a Reply

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.