Benefits of Investing In Employee Recognition Software

by Kylee Stone Feb 27,2022

The People Strategy Leaders Podcast

with Srikant Chellappa, CEO

You must have the most hardworking and skilled team in the organization, but you realize that they have not performing well for the last few months! Have you taken out time to recognize them? Yes, you guessed it right; most employees fail to perform well when they do not receive enough recognition. A study highlights that almost 69% of employees feel they would work harder if appreciated more. Employee recognition brings out the best in employees. They feel encouraged and motivated to work. When they receive recognition for their work, they feel valuable and important. In this current era, having employee recognition software in place will allow you to recognize and reward your employees on time.

Also Read: Why OKRs are crucial when onboarding new employees?

The need for recognition in today’s workforce is even greater. Employee recognition acts as a great tool to improve morale and engage your remote employees. Some of the other benefits of employee recognition include:

  • Reduced Turnover
  • Increased Productivity
  • Improved Employee Retention
  • Improves Collaboration
  • Helps in building a positive work culture

Employee Recognition Software Benefits

Given that now we understand how important it is to recognize people for their efforts and the instant gratification it can bring to them, here are five ways in which employee rewards and recognition software will benefit your organization.

Instant Recognition

Employee rewards and recognition software makes it possible for managers to recognize their employees instantly. When employees fail to receive recognition on time, they lack enthusiasm or encouragement towards their work. Furthermore, in the absence of employee rewards software, employees sometimes have to wait for the half-yearly or annual reviews for recognition. It reduces the impact recognition has on employees. As a result, it does not create a significant impact on them. For recognition to be effective, it should be done on time.

‘Late recognition is equal to no recognition.’

Data-Driven Performance Management

Recency biases often cloud the judgment of managers in yearly or half-yearly reviews. It is a type of cognitive bias in which managers judge their employees based on recent events. They tend to ignore past achievements. Additionally, most managers are not responsible for a single team; they have many to manage. It becomes difficult for them to keep track of everyone’s achievements. Consequently, the employees feel ignored and are left unhappy and unsatisfied after a review. On the other hand, employee rewards and recognition software helps in tracking performance over time. It helps managers to make performance-related decisions based on data and insights.

Also Read: 4 Benefits Of Having Performance Management Software

Easier and Simplified Process

Employee recognition software not only helps in instant recognition but has made the whole process a lot simpler. In addition to reducing the time taken, it has reduced some of the problems associated with offline processes.

Using an employee recognition system has made the job of HR a lot easier. In the traditional process, they were the ones who were involved in planning and coordinating the recognition programs from start to end. It was time-consuming and tedious. In the presence of software, managers/leaders can directly recognize their employees. It reduces the need for unnecessary communication between different members of the organization.

Recognize From Anywhere

Now managers need not wait or need to be in front of their office computers to recognize their employees. They can do it on the go and from anywhere in the world. Most employee rewards and recognition software are designed to work on multiple devices and platforms. It should be accessible anywhere on phones, tablets, and laptops with internet connectivity.

Also Read: Employee Recognition And Rewards During COVID19

Peer-To-Peer Recognition

Research by Workhuman (previously Globoforce) highlights that 41% of organizations that use peer-to-peer recognition reported an increase in customer satisfaction. 

Employees not only recognition from their bosses or managers but from their peers, too. Most employee recognition software comes with an inbuilt feature where peers can praise each other. It reduces unwanted collaboration and improves the bond between the team members. As a result, it increases the productivity and engagement of the team.

While choosing the best employee recognition software for your organization, consider the above benefits. Employee recognition is one of the strategic tools to engage and develop your workforce. By adopting an employee recognition platform, you can create a dynamic and engaging workforce who are always ready to go one step ahead to achieve organizational goals.

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Kylee Stone

Kylee Stone supports the professional services team as a CX intern and psychology SME. She leverages her innate creativity with extensive background in psychology to support client experience and organizational functions. Kylee is completing her master’s degree in Industrial-Organizational psychology at the University of Missouri Science and Technology emphasizing in Applied workplace psychology and Statistical Methods.

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