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isolved

isolved is the most-trusted HCM technology leader, providing the best combination of software and services to meet the needs of today’s People Heroes – HR, payroll, and benefits professionals. From talent acquisition to workforce ...Read more about isolved

3.9 (501 reviews)

77 recommendations

Factorial

Factorial is a cloud-based human resources (HR) solution that caters to small businesses across various industry verticals. Key features include a time-off manager, an organisational chart generator, a document manager and more. ...Read more about Factorial

4.5 (252 reviews)

41 recommendations

Motivosity

FrontRunners 2024

Did you know that 74% of companies rely on one annual survey to measure their culture and employee engagement? However, the sentiment of your workforce can change drastically within those 365 days. Through our MV6 standardized sur...Read more about Motivosity

4.8 (996 reviews)

15 recommendations

Quantum Workplace

FrontRunners 2024

Quantum Workplace helps organizations make work better every day with its employee success platform. We empower organizations to understand employee experience, inspire impact, and create a magnetic culture that attracts and retai...Read more about Quantum Workplace

4.7 (59 reviews)

10 recommendations

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ThriveSparrow

ThriveSparrow is a cloud-based employee success platform designed to drive growth, amplify performance, and create a thriving workplace environment. With a comprehensive suite of features, ThriveSparrow enables companies to engage...Read more about ThriveSparrow

No reviews yet

9 recommendations

WorkTango

WorkTango (formerly Kazoo) revolutionizes how the world's most forward-thinking companies engage and inspire their people. We offer the only Employee Experience Platform that enables meaningful recognition and rewards, offers acti...Read more about WorkTango

4.9 (142 reviews)

8 recommendations

Advantage Club

FrontRunners 2024

Advantage Club is a one-stop-shop for employees' engagement and financial wellness needs. Advantage Club offers a range of benefits, including automated incentives, exclusive deals, early wage advantages, and interactive engagemen...Read more about Advantage Club

4.9 (148 reviews)

6 recommendations

Nectar

Nectar is a people platform that bundles social recognition, rewards, employee discounts & swag management to create connection and appreciation across your organization. With Nectar, employees and managers can publicly recognize ...Read more about Nectar

4.8 (287 reviews)

5 recommendations

Prospr At Work

Prospr is a mobile and desktop app employees choose to connect with their teams, engage at work, and manage their schedules. Built by operators, for frontline teams, Prospr offers team communication, scheduling, sub-management, ...Read more about Prospr At Work

4.7 (17 reviews)

5 recommendations

Bonusly

FrontRunners 2024

Bonusly is a fun, easy-to-use employee recognition and rewards system that boosts employee morale, engagement, and productivity. By facilitating timely and meaningful peer-to-peer recognition, Bonusly helps employees feel that the...Read more about Bonusly

4.8 (1583 reviews)

4 recommendations

Empuls

FrontRunners 2024

Xoxoday Empuls is a cloud-based collaboration solution designed to help organizations of all sizes manage processes related to workforce motivation, employee empowerment and engagement. Empuls facilitates collaboration amongst emp...Read more about Empuls

4.5 (70 reviews)

4 recommendations

Bucketlist

FrontRunners 2024

Bucketlist is a cloud-based reward and recognition platform that helps enterprises of all sizes assess, as well as acknowledge employee performance via gamification, point-based leaderboards and award badges. The platform enables ...Read more about Bucketlist

4.8 (258 reviews)

3 recommendations

WebHR

WebHR is a cloud-based human resource management solution that helps organizations manage their employees' employment lifecycle, from the time they were hired to retirement. The solution merges functionalities provided by human re...Read more about WebHR

4.3 (525 reviews)

2 recommendations

Abundantly

Abundantly is an employee recognition platform that helps companies recognize and reward their employees in a way that's more personalized and efficient than ever before. Supervisors can acknowledge and validate team member's achi...Read more about Abundantly

5.0 (4 reviews)

2 recommendations

Engagedly

Engagedly is a cloud-based workforce management solution that offers integrated applications to manage on-boarding, employee learning, performance review and goal management. The solution focuses on communication and collaboration...Read more about Engagedly

4.6 (76 reviews)

1 recommendations

Qarrot

Recognition software that actually improves employee performance! Designed for the needs of growing businesses, Qarrot powers outcome-based rewards and recognition to improve culture and drive better employee performance. With Q...Read more about Qarrot

4.6 (68 reviews)

1 recommendations

Leapsome

Leapsome is the all-in-one intelligent people enablement platform used by CEOs and HR teams at more than 1500 forward-thinking companies (including Spotify, monday.com, and Unity) to drive employee development, productivity, and e...Read more about Leapsome

4.7 (59 reviews)

1 recommendations

CUES

Our technology is designed to help employers and managers like yourself to never miss the key moments when employees need to be recognized and rewarded for their hard work and achievements. We understand that employees who feel va...Read more about CUES

5.0 (5 reviews)

1 recommendations

Shaka

Shaka: Elevate Workplace Happiness and Productivity For those who believe in the power of a positive workplace culture and a happy, engaged team, Shaka is the software solution you've been searching for. Shaka is designed for com...Read more about Shaka

5.0 (2 reviews)

1 recommendations

Inspire

Inspire Software is a cloud-based solution that helps small to large businesses manage employee performance through 360-degree feedback and recognition tools. It comes with a Goals Science module, which allows enterprises to creat...Read more about Inspire

5.0 (1 reviews)

1 recommendations

Buyers Guide

Last Updated: March 16, 2023

According to an SHRM survey, the top employee management challenge of HR managers is employee retention/turnover. About 68 percent of them believe that an employee recognition program can reduce the employee turnover rate because employees stay in an organization where their work is appreciated or rewarded.

Rewards and recognition should be a key component of your HR strategy since they can improve employee engagement, performance and the organization's growth. However, you need to strategically design and deploy your employee recognition program with the help of technology in order to ensure that your managers and employees use it well.

The right software will make it easy for you to reward your employees' achievements, efforts and behaviors that align with your business goals and values. But understanding the myriad employee recognition tools and their features is necessary to getting the right solution for your business.

This Buyer's Guide will help you understand employee recognition software and its features and benefits. Armed with this knowledge, you'll be able to make an informed purchase of the right solution.

Here's what we'll cover:

What Is Employee Recognition Software?

Common Features of Employee Recognition Software

What Type of Buyer Are You?

Benefits of Employee Recognition Software

Market Trends to Understand

What Is Employee Recognition Software?

Employee recognition software helps HR managers and supervisors reward their employees' contributions in the form of awards, e-gifts, additional time-off etc. These could be based on exceptional performance or when they exemplify a business value, such as being a great team player.

The software allows HR managers to set the metrics and track employee progress. It's important to know that a typical employee recognition solution should have the following functionality:

  • Provide survey tools to incorporate peer feedback.

  • Include analytics functionality to identify top talent and award recipients based on different metrics.

  • Integrate gamification elements—such as leaderboards and badges—to ensure user engagement.

  • Offer templates to create employee recognition programs and timelines for rewards distribution.

Rewards-catalogue-management-in-Bonusly

Rewards catalog management in Bonusly (Source)

Common Features of Employee Recognition Software

This section looks at some of the common features that you can expect to find in most employee recognition solutions. Here are the details of these features:

Peer-to-peer recognition

Allow employees/managers to give feedback for their peers/reportees; the feedback is stored in a centralized database.

Activity tracking (goal management)

Create and assign employee goals for a specific time period (month, week etc.) and track the status of goals in real time.

Built-in survey tools

Create surveys and questionnaires to gauge workforce performance; send these to employees for their feedback.

Rewards catalog management

Search a catalog of rewards such as vouchers for travel, merchandise, e-gifts or non-monetary rewards (e.g., praise cards).

Nominations management

Allow employees or managers to nominate candidates who demonstrate business values and behaviors such as collaboration, integrity and innovation.

Analytics and reporting

Create customized analytics reports (charts or graphs) to track and analyze employee (or whole team) performance. Compare this with team averages to identify underperforming employees.

Gamification

Increase peer engagement in recognition programs by integrating gamification elements such as leaderboards, badges and contests.

Social recognition

Allow employees to post/share their recognition scores on social media platforms (Facebook, LinkedIn etc.)

What Type of Buyer Are You?

Different organizations use different methods to recognize their employees such as offering micro-bonuses, verbal praise or certificates of appreciation. With employee recognition software, business can efficiently—and fairly—find out the top performers or outstanding employees who should be rewarded.

However, before purchasing the software, you should assess your buyer type. Most buyers fall into one of the following categories:

Best-of-breed software buyers: These buyers may already have HR software in place, but need a niche solution for a specific functionality. They want simple-to-use tools that will automate the process of employee recognition at varying levels (i.e., peer-to-peer or peer-to-manager).

Such buyers can opt for software-as-a-service (SaaS) or cloud-based solutions, which usually have monthly service fees. This way you won't have to purchase proprietary software.

Integrated suite buyers: These buyers require a single software suite to implement a range of applications. A suite saves integration costs and stores all data in a single database. If you are in this buyer's category, choose a solution that offers employee recognition as a core feature.

And if you want to integrate third-party apps with your existing software suite, ensure that you have the in-house expertise to integrate the apps. If you don't, you'll need external IT help for the integration and ongoing maintenance.

Small businesses are most likely to buy best-of-breed systems as they perform specialized functions in a niche category (in this case, employee recognition). On the other hand, midsize and large enterprises are more likely to opt for full suites to handle multiple business requirements.

Benefits of Employee Recognition Software

Sixty-six percentof HR managers feel that a recognition program at their workplace has boosted their reputation as an employer. And 90 percent of employees feel that such programs have a positive impact on employee engagement.

In this section, we've called out the most important benefits of employee recognition software. The key benefits are:

Increased employee productivity: Seventy-eight percent of employees would work harder if their efforts are better recognized at work. When employees are recognized, they are motivated to be efficient and proactive, resulting in increased productivity.

Higher employee loyalty and customer satisfaction: When employees are motivated, they are more likely to promote and sell your brand in a positive way. This leads to increases in customer satisfaction and your net revenue.

Market Trends to Understand

Across the world, employee recognition programs are gaining popularity as employers realize the importance of keeping their employees engaged. Here are some of the important market trends you should be aware of:

Employee recognition increases retention: Being a large part of the workforce, millennials expect regular attention and recognition from their employers. Without both, they end up quitting pretty quickly. That's why businesses with employee recognition programs tend to have a 23.4 percent lower turnover rate than businesses that don't.

Increase in employee recognition through mobile: With the increasing adoption of mobile devices among workers, apps are playing a big role in employee recognition. These apps are often free or low-cost, offering you a cost-effective, innovative way to recognize your peers, irrespective of time and location. Tap My Back, LifeWorks and gloodoo are some of the popular mobile apps in this category.