24 June, 2022
5 Ways an Employee Recognition Software Can Benefit HR
HR departments came into existence at the turn of the century with the primary objective of helping the senior management negotiate with their worker base, according to SHRM. Although this function is still in play, there has been substantial expansion of the HR role over the years, that cascades into numerous facets ranging from talent acquisition, recruitment, and hiring; to employee engagement, retention, and rewards and recognition. Today, we can find total rewards managers, employee experience specialists, and even chief happiness officers in most organizations, roles that are all committed to improving the overall employee experience.
HR, Technology, and R&R: A Three-Piece Puzzle
In keeping with the progressing HR gamut, employee rewards and recognition is also a constantly evolving space that has metamorphosed at a rapid rate in order to align with innovative trends and ideas. With the changing nature of employees’ expectations, organizations focused on employee retention are actively working to address the new corporate dynamic. This involves a systematic assessment and realignment of your R&R strategy. Technology is at the fulcrum of this change, as the amalgamation of digitization with core R&R processes is proven to drive impactful, RoI-driven employee engagement.
How Can an Employee Recognition Software Benefit HR?
HR professionals across the globe are in strong agreement that employee recognition has positive effects on the employee experience and workplace culture. Many also vouch for the affirmative impact of appreciation on key business outcomes such as productivity, performance, and sustainability. Add R&R technology to the mix, and you have a sure-fire approach in place that is guaranteed to streamline and scale impact.
As an HR professional, if you are still apprehensive about digitizing your R&R framework, we have listed down 5 ways an employee recognition software can benefit the HR department. Read on to know more!
1. One-Stop Solution
An employee recognition software works as a one-stop solution as you can track multiple aspects with a single platform- recognition frequency, reward redemptions, sentiment analysis, award nomination, budget allocation, etc. A unified platform thus reduces manual interference and drastically condenses the admin, financial, and logistic overheads, simplifying the HR’s responsibility and scope of work.
2. Rewards Procurement and Disbursement
The manual effort that goes into procuring, storing, and disbursing rewards is a laborious overhead for the HR personnel as it involves dealing with multiple vendors, quotations, and logistics providers. A rewards redemption platform completely automates the end-to-end rewards framework, and also enables easy tracking of disbursed items and redeemed points.
3. Ease-Of-Use and Accessibility
The biggest advantage of digitizing R&R is the accessibility it provides. As hybrid work cultures become the new normal, it is extremely important for the HR department to ensure convenience and equal provision to the entire workforce, irrespective of their location. Functionalities such as a user-friendly mobile application for R&R come in handy to extend ease-of-use to the employees.
4. Alignment of Budget and Expenditure
R&R budgets can be allocated from a centralized dashboard and tracked through to each manager/reward designator via a digital R&R platform. This makes it easier for HR to decentralize their budgets and ensure optimized spend over each activity. Furthermore, HR can define and configure a rewards framework on the platform, which can alter and change with evolving organizational needs.
5. Employee Empowerment and Ownership
Empowering employees with digital tools that facilitate peer recognition and social recognition reduces the burden on HR to be the proprietors of employee recognition. Instantaneous recognition with limited sign-off processes encourages people to take ownership and foster a culture of appreciation through a ripple effect.
When is Your Organization Adopting a Digital R&R Solution?
While it may not be a walk in the park, embracing R&R technology has significant benefits that are incurred by all of the key stakeholders- including the employer, employees, and the HR department. Now that the foundational advantages are clear, it is time for you to join the revolution! Connect with us today to experience our novel employee recognition software, Gratifi in action.