How digital platforms are innovating the workforce engagement space
Technology has completely transformed the recognition space today and the traditional way of appreciation has taken a backseat. Organizations increasingly want to make agile, informed, and data-backed decisions when it comes to rewarding their workforce. To facilitate this change, digital recognition platforms have come up and these platforms have given an edge of objectivity to the whole R&R process. This, in turn, has helped businesses to grow and perform at an optimal level because engaged and happy employees go that extra mile to achieve their organizations’ business objectives.
How are organizations keeping employee motivated?
A recent study by a leading training institute stated that organizations with an engaged workforce outperform those without it by 202%. This reinforces the fact that recognition, when done right, can help organizations reap dividends in the form of employee loyalty.
So, when is the right time to reward good work? Instantly, says a recent leading nonprofit professional association report. The findings of this report state that when employers offer “spot awards” to their resources, employee engagement and motivation improve by 54% and 48%, respectively.
Benefits of digital platforms
The major benefits of using a digital platform for reward and recognition are:
- Enhanced HR efficiency: HR has transformed into a portal with all functionalities to take on increasingly diverse business demands. Choosing the right recognition platform saves a lot of time for the HR, time that can be utilized on strategic business decision making.
- Heightened objectivity: Have you heard a colleague saying that few individuals are always rewarded because of their equations with their managers? This is where digital recognition comes in. Digital recognition platforms help you measure employee performance using data, eliminating even the slightest possibility of favoritism. Moreover, gifting no longer remains an in-silo process, because the management gains complete visibility into reward distribution from bottom-up in the organizational hierarchy.
- Easy tracking of recognition program: Harnessing the power of data, decision makers can easily track the success of the recognition program on various parameters, such as team bonding, reward frequency, and employee reactions.
- Improved R&R: When recognition becomes memorable than momentary and monetary, employees feel that they have established lasting bonds with their employers. The use of technology for rewarding ensures that recognition is more impactful. For instance, when employees get to choose the time and type of their gifts, over the usual quarterly, half-yearly, or annual recognitions, the experience is more likely to touch a chord with the workforce. Also, Digital recognition platforms enable the HR to easily segment information gleaned from employee analytics and tailor its recognition programs around employee trends and preferences, driving productivity.
Digital is the future
In today’s competitive scenario, organizations can’t afford to have a disengaged workforce. Flexible and interactive R&R solutions are thus the need of the hour.