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Everything You Need to Know About Employee Recognition Software

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You may have already heard how beneficial employee recognition software can be. As humans, we desire to be seen, heard, and recognized for our efforts in every aspect of our lives — it’s in our nature. Recognition brings fulfillment and happiness into our relationships. The need for recognition is no different in the workplace, so it should come as no surprise that acknowledging your employees for their hard work plays a big part in keeping them happy and productive. 

Every member of your team, no matter how seemingly big or small their role, wants to feel valued and to know that they play an essential role within the company. Above all else, this is the key to better employee retention. With that in mind, what’s the best way to show your team appreciation?

While many employers have traditionally chosen to offer competitive compensation or appealing benefits packages, employees prioritize other job perks these days. This could be anything from professional development opportunities to wellness programs and unlimited sick days. But what stands out in surveys? Making your employees feel visible and appreciated, according to Inc.

While all of the above benefits are great, if you really want to go the extra mile, you may want to consider using employee recognition software that engages everyone and provides a central place to accumulate, track and use their recognition points. Read on to discover everything you need to know about using this software, including what it is, how it works, and why it’s a must-have for every company.

What Is Employee Recognition Software?

Simply put, employee recognition software is a web-based technology or app that allows you to easily track and manage employee rewards, recognition, and milestones. When an employee performs well or reaches a milestone, their manager or peers can award them points for their accomplishments.

Before this incredible software idea was introduced to the market, measuring and rewarding employee accomplishments was nearly impossible at scale. It was nothing more than an abstract concept with random and inconsistent execution.

Not only does employee recognition software allow you to recognize your team for their contributions, but it also allows employees to nominate their peers for their hard work. There’s no better way to keep the motivation going in the workplace than with peer-to-peer nomination.

The software itself will make it more fun for employees by allowing them to track their progress and see rewards. This access gives them something to work toward and keeps the momentum going in the business because productivity levels often reach an all-time high with these types of rewards systems in place.

Rather than assuming everyone wants the same thing, employees can even select their reward from a custom catalog that you have the option to handpick. Since not every employee is the same, they will have different preferences for what they value as a reward.

Ultimately, the employee-manager relationships will strengthen because employees are working hard and feeling appreciated by upper management. It’s a win-win for both management and employees.

How Employee Recognition Software Works

Your company could have the most innovative and revolutionary product on the market, but it doesn’t matter if your employees aren’t motivated. Inputting a quality employee rewards program drives encouragement to achieve goals because it gives them a reason to perform at their best.

When you invest in quality employee recognition software, it allows you to measure and track achievements and milestones. Rather than keeping a record of your employees’ performance manually, the software pulls data and uses real-time knowledge on your behalf. This allows you to stay organized and know who is performing in the top tier within the company.

Not only that, but cutting-edge employee recognition software will also equip your team with a communications portal that provides them with ongoing education. The truth is, even the most driven sales reps won’t perform well without the proper product knowledge. Make sure you find software that allows employees to earn points for what they learn in the communications portal. By combining education and rewards in one platform, you’re automatically equipping your team with everything they need to succeed.

The best part is, most software solutions offer a variety of different rewards and incentives for your staff. Rather than depositing funds into their bank account, you can offer tangible, memorable rewards. This forms a long-lasting psychological bond between an employee and your company, encouraging loyalty and better performance across the board.

Look for a provider who works with you to custom-curate items based on your employee base – their culture, preferences, even location. They can help you source everything from high-end fashion items to the latest tech gadgets to gift cards. On the other hand, you may wish to offer exciting experiences, such as front row concert seats, a private hot air balloon tour, or a personalized luxury vacation to the destination of your choice — or switch up the rewards throughout the year. What employee wouldn’t use that as motivation to work hard day in and day out?

Leading employee recognition software allows your staff to earn points for particular objectives and track their progress. The system has the option to automatically send notifications to show that team members have been recognized for specific goals, allowing your rewards system to run on autopilot. You can also choose to receive notifications of your team’s achievements, allowing you to personally recognize the employee for their contribution.

Some software options on the market allow your staff to use employee recognition software to nominate their colleagues. Whether you use the technology for peer-to-peer recognition or manager-to-employee, everyone stays engaged and motivated. 

You can even print out personalized certificates to sign as an additional reward for high achievers. When paired with the reward of their choice, certificates provide healthy competition among peers and an incredible morale boost within the company.

Why Should Your Company Use Employee Recognition Software?

Rewarding outstanding performance works. If you want your company to operate at an optimum level with engaged and motivated employees, prioritizing recognition and establishing a culture of appreciation is necessary. Here are some of the many ways that implementing employee recognition software can help your company:

Make Recognition Easier With Specific User Profiles

When it comes to recognizing your employees, it’s nearly impossible to know everything that’s going on behind the scenes at all times, especially if you’re running a large company. You can easily forget employees’ achievements or lose them in the shuffle, resulting in a feeling of underappreciation.

Wouldn’t it be much easier to keep track of employee achievements all in one place?  Using specific user profiles, you can delegate that task to your recognition software rather than trying to keep an eye on your employees’ achievements manually, freeing up your time for other important tasks.

Personalize Your Rewards With Company Branding and Messages From Management

Are you worried about your rewards coming across as impersonal while using recognition software? The good news is, it doesn’t have to. By incorporating your company branding and logo, your employees will feel as if the rewards are designed specifically for them from you. 

You can also add your personal touch when you want to acknowledge an employee, such as writing a personal message for a job well done.

Save Time and Money by Offloading Work From Your HR Department

Have you ever tried to create a culture of recognition within the workplace and keep track of your team’s achievements without a proper system in place? Many companies make this the responsibility of the HR department or delegate the tasks to an administrator. This is a significant time investment a software provider can easily help you handle.

Using an employee recognition solution requires a small upfront investment, and in the end, it will save your company money while freeing up HR’s and management’s time. Allowing technology to recognize and reward your team on autopilot automatically gives you more time to focus on other HR tasks.

Curated Reward Opportunities in One E-Commerce Platform

Traditional ways of rewarding employees are great, such as offering bonuses, but they can also be quickly forgotten about. Instead, why not create a curated catalog for your employees? Since you know your employees best, you can work with your provider to select an array of rewards to choose from when they hit specific milestones or perform at their best. 

In one easy-to-use, integrated e-commerce platform, employees can view and select a wide selection of e-gifts, merchandise, travel, and experiential offerings that you have set up. Utilizing this type of e-commerce platform can help you distribute a broader range of curated rewards more frequently, which is challenging to do in a growing company. 

Think about it — is an employee more likely to remember being handed cash or being given front row tickets to watch their favorite sports team play? It’s a no-brainer.

Track Employee Tenure and Improve Turnover Rate, Saving You Money

Could your company benefit from lower employee turnover? Of course, what company couldn’t?

Retained employees mean more knowledgeable staff, increased sales, better customer satisfaction, and more profits. Think of all the money you’ll save on advertising for new employees and training them.

Employee recognition software can help you track employee tenure, which is particularly helpful for large businesses. You can easily view how long employees have been with your company, allowing you to keep an eye on work anniversaries. The software will notify you when a particular date comes up, allowing you to send rewards and thank yous to your team for special milestones or anniversaries.

Easily Share Employee Accomplishments and Badges on Social Media

Nowadays, nearly every company has a social media presence. If you do not have it, you’re missing out on a powerful part of your reward strategy.

Any employee recognition software worth investing in will have social feed and gamification capabilities. You can easily recognize your employees on social media by providing social shareables, such as badges and achievements, leading to improved motivation and productivity. This will also showcase your company in the best light to attract new talent.

Boost Employee Morale by Having a Customized System in Place

Employees want to feel like they’re more than just a cog in the wheel. However, it’s often easier said than done — especially for larger businesses.

Having a customized system to reward your employees is crucial to how they view their journey in your company. Make sure your reward system aligns with the company culture and objectives.

A trusted software provider will have flexible program rule sets that determine your company’s particular objectives. That way, your employees will be constantly motivated to hit the company’s goal year on year.

Employee Recognition Software Is a Must

Setting up employee recognition software is critical to creating a culture of recognition within your workplace. Your efforts will be rewarded with higher employee retention, greater talent attraction, increased social media engagement and profits, and a boost in motivation and excitement in your workplace. With the right technology, you can do all this with less time spent managing rewards and recognizing achievements.

The best part is, you don’t need to spend a lot of money upfront on employee recognition software either. With quality software, you can take advantage of incredible features at an affordable price. Some companies even act as full-service reward platforms, setting up the whole program for you.

Now that you know what employee recognition software is, how it works, why it’s a must-have, you can make an educated decision if it’s right for your company.

Are You Ready to Create a Culture of Recognition That Works?

Creating a culture of recognition doesn’t have to be complicated. If you need a hand creating your rewards program, Xceleration has got you covered. We are the industry-leading incentive and recognition solution for businesses around the globe. Using our proprietary web-based software, RewardStation, you can drive performance among team members, take advantage of our employee referral program, and provide peer recognition to boost employee morale.
It’s time to start giving your employees meaningful, exciting rewards for their performance. To begin driving profits and performance, contact Xceleration to create your own unique rewards program today.

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