When it comes to getting recognition in the workplace, employees of today seek fast and instant recognition. That presents a problem for companies with a large employee base where it’s less feasible for the leader to go up to each employee and congratulate them on their day-to-day achievements.
Constructive use of technology has made it easier to reward and recognize their workforce in an easier, faster, and more timely manner, making the whole process smoother to operate. That’s where having a rewards and recognition platform integrated within your company comes into the picture.
Here’s how having a dedicated R&R platform is making the act of recognizing your workforce easier.
Recognition delayed is the recognition denied. The modern workplace environment is fast, frantic, and changing constantly. Achievements of today are most likely to be forgotten by the very next day.
Implementing a digital rewards solution provides an environment where employees can be appreciated over the high quality of their work potentially within moments of completing it, rather than having a note left on their desk a month after completing a project saying “good job.”
As data becomes more and more important, an R&R platform allows you to get insights on how employee performance and engagement are linked to the amount of recognition given.
This won’t only help to show you the benefits of the program itself but also help you identify the areas in which it particularly works and the areas that don’t seem to do much to increase overall engagement.
Additionally, data-driven insights can help you identify gaps in the recognition giving pattern in your organization. Data can also highlight the employees with the highest contribution and influences in teams, making it easier for you to recognize them.
Not all organizations are created equal. Each one differs in terms of various factors such as the number of employees, which means that recognition has to be flexible to accommodate the various parameters.
Customization allows HR to add new changes or make a few tweaks to an existing program. Customization allows for greater flexibility and the ability to tailor programs as per the organizational need and the values they want to drive.
Sometimes, the effort to complete a task is more important than the task itself.
Rewards and recognition shouldn’t be limited to only the individual top performers. It must involve all employees across the company to build a sense of belonging and increase the motivation to do better.
A dedicated R&R platform helps make everyday tasks such as fixing an error or being on time an easily recognizable task.
Traditional methods made it difficult to instill the company values consistently and continuously to the entire workforce. It is even more evident when rewarding employees become a cumbersome and long-drawn-out task. The use of technology has resulted in a faster and more efficient way to recognize employees, thus rewarding employees on the spot a reality.
We are building loyalty ecosystem
A business with a 60% customer retention rate is losing 3-4 times as many customers a business with 80% retention rates. Besides, increasing customer retention by just 5% boosts profits by 25 to 95%, according to the advisory firm Bain & Co.