Employee Recognition software ensures that the employees give their hundred percent when it comes to work-related matters.
Dedicated Employees give almost half of their lives to work. They sacrifice their family lives just to make sure that their work does not get affected. Such efforts are usually unnoticed and unappreciated. This is where Employee recognition comes into play.
Employee recognition software is the best way to say “yes, we care”. This motivates others to work hard, and a competitive spirit arises among all.
To know more or have a clear picture of a scenario, statistics are the main go-to and consider as the best indicator. Here are some Stats regarding Employee Recognition Software. According to Quantumworkplace
- Organizations with recognition software had 31% lower voluntary turnover than those without.
- Organizations with recognition programs in place experience 28.6% lower frustration levels than those without.
- 52.5% of employees want more recognition from their immediate manager.
There are many ways to recognize employees and their efforts. Here are some pointers that might help in identifying employees
- A job well-done sticky note
- Putting their name on the top achiever’s list
- The employee of the month award
- Taking them out for lunch
- Announcing it on the web portal
However, employees should be treated like family. When a family member does something commendable, everyone congratulates that member. Similar should be the case with employees at a workplace. When an Employee achieves an extraordinary feat, they should be rewarded so that they improve more and others take an example from their success.
In this blog, we shed light on the benefits of employee recognition software, Here are 10 benefits that might give you a better understanding of how to retain Employees for a long time.
1. Employee recognition Software create a sense of competition among the workforce
Imagine an “xyz” employee who has worked hard all his life, was never late and completed all tasks on time is rewarded an enormous increment. You will definitely take this into account and learn a lot from this and will want to achieve something similar. This is what employee recognition does to you.
2. They help perpetuate a corporate culture you’ll be pleased with
Your company culture may be a huge a part of your brand identity. It also features a consequence on every aspect of your operations. Your company culture is that the mechanism by which you fulfil the promise your mission statement makes to your customers.
Your workplace culture isn’t only valued by customers, it’s valued by employees. More and more employees respect the culture of their workplace as even more important than their financial compensation. After all, an excellent payday is a poor compensation for employment that creates you miserable.
Employee recognition programs can make sure that employees feel valued both by management and their peers and show them that their accomplishments are recognized and valued.
3. They help employees feel engaged and provide them a way of belonging
The world is within the midst of a productivity crisis, and it’s entirely possible that poor engagement rates are the key. An intimidating 85% of employees are either not engaged at work or feel actively disengaged.
And that’s simply not a foundation on which excellence are often built.
Employee recognition schemes use manager-to-peer and peer-to-peer recognition to assist employees feel that they belong with you. It can assist them to feel more involved in their work and take greater pride in it. And when your employees are engaged, your business is probably going to be more profitable. In fact, research depicts that higher employee engagement levels can be a result of rise of profitability by 22%.
Almost 90% of business leaders regard a scarcity of employee engagement together of the highest three threats facing their operation. But when employees feel good about their employers and, therefore the difference that their efforts are making a day, this common pain point becomes far less of a problem.
4. Rewards and Recognition make you more desirable to ambitious job hunters
Your company might not be hiring right now. You might not envisage wanting to add members to your team for a few times. But as your business grows, your staffing will get to grow at a proportional rate if you’re to deliver an equivalent quality of care that your customers expect as your operation expands.
And that means having the ability to get your hands on the type of top drawer candidates who make outstanding employees. However, the priorities of job finders are changing. There’s a generation of bright young graduates entering the workforce who are motivated by big sums of money. They want to look for an employer who makes them feel valued. An employer with a robust ethical focus that’s prepared to take a position future in their workforce.
At a time when websites like GlassDoor allow people to mention what they really believe their employers, prospective applicants can see businesses at their best and their worst.
Therefore, an employee recognition program are often a very attractive benefit to the sort of top-tier candidates who can help lead your business to new heights of success. Over 65 percent of employees don’t desire their efforts are recognized at work. And the candidates that you’re trying to focus on will definitely not want to hitch their ranks.
5. Employee reward and recognition programs are simple yet easy to implement in even the busiest operations
While there are many various sorts of programs available, the present generation takes the shape of digital platforms, very similar to the social platforms your employees use in their personal lives every day.
And the expenditure of carrying out, personalization and training pales as compared to the value of replacing employees who have left because they don’t feel engaged or recognized.
The good news is that recognition programs not only help employees work harder and take more pride within the task at hand, they’re also linked to a reduced turnover rate. Companies that enforce employee recognition programs relish a 31% reduction in voluntary turnover.
Moreover, employee retention saves you money while also allowing you to supply the continuity of quality and repair that your customers have come to expect from you. Employees who stick with you’re more likely to grow and develop, thus helping you to succeed in new heights of operational excellence and customer satisfaction.
When you observe high voluntary turnover rates, however, you risk taking two steps back for each one breakthrough.
6. A good reputation of the company is built
The firms that introduce strong recognition programs have a reputation that lasts forever. Many people want to join the firm, and the current employees have confidence that their hard work will pay off for sure. Reputation is the most important weapon to have in your arsenal as it can do you wonders.
7. Loyal employees bring in their sons/daughters to work for the firm
When dedicated employees know that their hard work is being noticed and recognized, they refer the firm to their next generations to keep getting loyalty and do not have to spend precious bucks in finding loyal hardworking employees.
8. Taking Control
The employees will never ask for increments and become greedy as they know that when they work hard and long, the firm will recognize them and give them a pay rise and other monetary benefits.
9. Point to Ponder
Recognition in the workplace is as important as generating capital. Employees work around the clock giving it their all and expect nothing in return except timely salary and workplace recognition. Some Managers are quick to criticize but will applaud or recognize the efforts of workers. This can be frustrating and demotivating. Such behaviors can force Employees to quit. Avoiding such scenarios is the key, and Recognition in the Workplace can very well be the difference between the company going in a downward spiral and them taking off.
Whenever an employee joins a firm, they aim to work hard and make a name for themselves. This can only happen when they get appraisal and appreciation for a job well done. This will ensure their loyalty as well.
With the constant technological changes, Organizations know that upgrading is the key to success. Therefore, organizations that introduce reward systems for employees touch the heights of success in no time. Following are some reward system features that companies use
- Point-based rewards
- customizable approval process
- the flexibility of choosing rewards
- supports peer recognition
- always opt for a cloud-based rewarding system
- check if the reward system has mobile accessibility
- Easy to implement
Summary
Employee recognition software and rewarding employees for a job well done are mandatory. So, it keeps the spirits high, and teams get motivation. This should be adopted as a norm that will ensure the well-being of everyone in the company.
To get more information regarding employee recognition software, visit us at www.GetBravo.io
