Forecast On Social Employee Recognition Systems Market Global Industry Analysis and Trends till 2026
Social Employee Recognition Systems Market: Drivers & Restraints
Social employee recognition systems boost employee engagement. Social recognition at workplace is an important aspect in human resources management. The power of employee recognition creates the best workplace. Social recognition leverages employee behavioral habits and upcoming social technologies to voice the opinions of employees worldwide, further adding an important tool of saying “thanks” to the organization’s rewards strategy. Another prominent aspect of the social employee recognition systems is that it is not limited by reward practices such as monthly points or any other monetary benefits. Currently, social employee recognition systems which are delivered through social networks are trending with programs being delivered via software-as-a-service (SAAS) applications.
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Social Employee Recognition Systems Market: Segmentation
The global social employee recognition systems market is classified on the basis of deployment and region.
Based on deployment, the global social employee recognition systems market is segmented into the following:
Software as a Service (SaaS)
Social Employee Recognition Systems Market: Overview
HR and business leaders are currently utilizing social employee recognition systems and reward systems to report any significant improvement in employee engagement which are further related to business outcomes. The number of companies implementing social employee recognition systems is growing at a good pace. Organizations are encouraging collaborations among employees and further enhancing better teamwork, as they realize that social recognition has a vital role which cannot be solely driven by the management of a company. The best social recognition programs are inclusive of peers and managers and most importantly driven by good work.
Social Employee Recognition Systems Market: Region wise Overview
Geographically, global social employee recognition systems market is classified into regions viz. North America, Latin America, Western Europe, Eastern Europe, Asia Pacific Excluding Japan (APEJ), Japan, Middle East and Africa (MEA). Social employee recognition systems enable the employees to gain access to social recognition programs anytime, anywhere, so the trend in the market is to move to web platforms and mobile applications. With more and more globalization of companies with its workforce as well, socializing is the new strategy to create a harmonized work environment with increasing mobilization.
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Social Employee Recognition Systems Market: Key Players
The key players in global social employee recognition systems market are REFFIND Ltd., Kudos, Achievers Corp., Globoforce, Terryberry, Peoplecart, Ultimate Software, Paramax, CorporateRewards, BI WORLDWIDE EMEA, Incentive Logic to name a few.
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