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Use incentive compensation to increase productivity

By May 10, 2013January 16th, 2023No Comments

High employee productivity is essential to any fully functioning office. Ultimately, everything comes down to productivity – how many units of a product are manufactured or sold, how many phone calls are made, how many deals are closed. With low motivation and morale, workers are far less likely to do their best and achieve. Read on for tips on how to increase worker productivity. Cater to employees Incentive compensation programs are a great place to start when hoping to boost productivity. Forbes reports that individual economic needs should be put in line with company performance, which may take more effort on the management level, but ultimately pays off substantially. This means catering programs that benefit employees directly and in ways they appreciate the most. Team members at all levels of operation should have the opportunity to profit from company gains in some way. This is a more natural way to elevate company performance, increasing motivation and productivity. Value their work Showing real interest in a worker’s future can increase productivity in a meaningful way. When people feel that they are valued by their employers, and feel supported in their position, they are likely to strive to live up to their manager’s standards. Mentoring programs, weekly or monthly check-ins or extra training to put someone on the path to promotion all add up to a person who feels appreciated and taken care of. Focus on quality This means quality of life as well as quality of work. A CareerBuilder study found 59 percent of employees value a flexible work schedule over a new title. Another interesting statistic? Approximately 48 percent of respondents answered that they would like to make a difference in their jobs. People want to be better, more productive employees, and want to succeed at work. It’s up to employers to help make sure that happens.

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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.

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.