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Employee recognition software is a great way to provide rewards and benefits to employees. But what exactly is it?
According to Vantage Circle, recognition software is “a technology that helps companies automate, run, and manage recognition-based activities”.
There are a variety of benefits to using this technology. Morale boosting is one such area, as recognising and rewarding employees for their hard work keeps them happy and engaged.
Similarly, it motivates people to work harder as they’re able to see tangible outcomes for their hard work and effort.
Perkbox outlined the top seven benefits of focusing on rewards and recognition:
- It boosts workplace culture
- Increases productivity
- Boosts employee morale
- Engages employees
- Retains talent
- Positively impacts teamwork
- Instils a sense of purpose
Tech can make implementing an effective rewards and recognition policy easier, specifically employee recognition software.
The capabilities of these programs were described by G2 as “software [that] typically provides peer recognition and reward options via a portal that manages the delivery of points, gifts, gift cards, messages of recognition, digital badges, or certificates. An HR team member may be responsible for the software’s administration, but any employee can use the platform to recognise a co-worker.”
There are a variety of products that can offer rewards and benefits for employees, and finding one that suits your particular business is a Google search away.
As technology evolves and improves, the way businesses go about providing rewards and benefits will change.
According to Benify, there are seven key areas of recognition that will change with technology:
- Employees will check and use rewards through smart devices. Employers may benefit from collecting data to tailor experiences.
- A cloud-based system can help to make recognition immediate. Benify said this could improve retention and reduce absenteeism.
- Transparency is important as it builds trust. As more tech is being used, companies may have to be transparent with their use of data if they’re to maintain a healthy culture.
- More recognition programs that take advantage of key performance indicators (KPIs) and milestones could start appearing, making recognition more encompassing.
- Surveys are crucial to gathering feedback. This can go perfectly with recognition, as the whole aim is to keep workers happy. It can also be used to curate experiences.
- Means for rewards may begin to diversify. Benify said things like good behaviour, volunteer work, or getting vaccinated could be grounds for recognition.
- Healthcare and wellbeing will become a major factor in recognition, said Benify. Rewards and benefits like doctor appointments, gym memberships, and spa treatments could start appearing more, as employers realise that a healthy workforce means a healthy workplace.
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Benefits include any additional incentives that encourage working a little bit more to obtain outcomes, foster a feeling of teamwork, or increase satisfaction at work. Small incentives may have a big impact on motivation. The advantages build on financial rewards to promote your business as a desirable employer.
Jack Campbell
Jack is the editor at HR Leader.
