Press release
Employee Rewards and Recognition System– Industry Size, Growth, Share, Opportunities, Analysis and Forecast to 2018
Employee recognition and reward system refers to a program set up by company to reward performance and motivate employees. Every organization needs a reward system to manage compensation, benefits, recognition, and appreciation. Furthermore, this system offers various rewards and recognition program such as peer recognition and employee nomination programs for managers and employee referrals.Employee recognition and rewards system is expected to experience a significant growth during the forecast period, owing to increase in adoption of cloud-based solutions. Moreover, the benefits such as low cost of deployment & minimum maintenance expenses, enhanced data management, unlimited storing capacity, and access through web & mobile fuel the growth of the market.
Furthermore, rise in need to streamline HR operation is expected to drive the market growth. However, lack of awareness of employee recognition and rewards solutions in SMEs is hinders the growth of market. Rise in popularity of digital HR technology is expected to provide ample of opportunity for the growth of market in the coming years.
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The report segments the employee recognition and rewards system market on the basis of solution, service type, deployment type, industry, and geography. Based on solution, the market is bifurcated into hardware and software. By service type, it is classified into professional services, integration services, and training & support. According to deployment type, it is divided into cloud and on-premises. As per industry, it is categorized into healthcare, manufacturing, IT & telecom, transportation & logistics, BFSI, retail, and others. Geographically, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The major players operating in the employee recognition and rewards market are Kudos, Inc., Workstride.com, Kwench Global Technologies Pvt. Ltd., REFFIND Ltd., Salesforce.com, Globoforce Ltd., Ultimate Software, Solterbeck, Workstars, and Achivers Corporation.
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Employee Recognition and Rewards System Market Key Segments:
By Solution
•Hardware
•software
By Service Type
•Professional Services
•Integration Services
•Training & Support
By Deployment Type
•Cloud
•On-premise
By Industry
•Healthcare
•Manufacturing
•IT & Telecom
•Transportation & Logistics
•BFSI
•Retail
•Others
By Geography
•North America
•Europe
•Asia-Pacific
•LAMEA
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
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