Celebrating the feats of your employees can be simultaneously simple and challenging. On one hand, people are constantly blowing you away with their teamwork, ingenuity, and tenacity. On the other hand, finding the time to explicitly voice your appreciation, especially in a public way, can be an obstacle to employee recognition.
The solution? Social recognition software – a way to simplify and amplify employee recognition.
What is Social Recognition Software?
Let’s start with the basics – what is social recognition? We define it as a form of public appreciation, celebrating employees’ achievements and performance.
Therefore, social recognition software provides a comprehensive platform where recognition can be expressed and received. It often resembles familiar social media platforms, with a feed where public recognition is shared with the entire organisation. Beyond that, many software are also designed to ‘gamify’ the recognition process, allowing employees to award and receive points that are redeemable for various items.
Ultimately, a robust social recognition platform enhances the entire recognition process.
How Can a Social Recognition Platform Help You?
Even with the best intentions regarding employee recognition, the day-to-day bustle of a busy workplace can result in frequent recognition being placed on the back burner. Client emergencies, machinery malfunctions, and pressing deadlines end up eating away the day, and before you know it, it’s been 50 days since you voiced any sort of appreciation for other employees.
However, employees who feel recognised are 2.7 times more likely to be highly engaged with their work.
Therefore, a social recognition platform is ideal for simplifying the recognition process and helping it happen consistently. Additionally, businesses that utilise a formal recognition platform have 31% less voluntary turnover and are 12 times more likely to experience strong business outcomes.
What are the Benefits of Social Recognition Software?
There are a number of advantages to implementing a formal social recognition platform.
By choosing software with some sort of feed, employee recognition becomes public knowledge. While any expression of appreciation is going to boost morale, sometimes it just feels good for others to hear how great you are.
It’s easy for everyone involved to track who they’ve recognised, and just how often they’re expressing appreciation. Like other data, that information reinforces the motivation to deliver a steady stream of recognition.
Employees can recognise each other anytime from anywhere, just by logging in. We recommend choosing software that offers an app for mobile devices, like the 360 3.0 Recognition App. This way employees aren’t limited to only providing recognition when they have access to a computer.
Administrators have access to valuable statistics – Who is often praised by their colleagues? Who goes out of their way to celebrate others? Who is overdue for a shout-out? This information can help identify high achievers as well as gaps in your current recognition program.
- Increased productivity, engagement, and retention
Simplifying employee recognition with a comprehensive platform means that your people are going to start enjoying a lot more appreciation. That increased recognition is good news for the culture of your organisation and its bottom line.
What’s the cost of not celebrating your employees?
The endless requirements of operating a business may leave little time for employee recognition, but the truth is, you can’t afford not to acknowledge people’s performance. In fact, 66% of employees say they’re likely to leave their job because they don’t feel appreciated. On average, replacing just one person costs at least 50% of their annual salary. In addition, the company culture is impacted by the loss of experience and change in staffing.
There may be some hesitation in implementing social recognition software. You can expect some sort of cost associated with the program. Furthermore, implementation requires buy-in from everyone. Someone will need to be responsible for the administrative side of the program, and you’ll need to encourage employees to take full advantage of the platform.
Additionally, the time and effort required for the successful use of a social recognition platform may give you pause, but consider this: Businesses with an official recognition program in place experience 28.6% lower frustration levels than those who don’t.
Recognition Software Promotes Peer-to-Peer Recognition
Peer-to-peer recognition is a valuable tool in the workplace. It substantially increases the amount of acknowledgement that people receive and makes it easier to celebrate the small contributions that co-workers are likely to notice. In fact, 41% of employees want more recognition from their colleagues. So, when you’re looking for the right social recognition software for your organisation, choose one that allows for peer-to-peer recognition.
Recognition Software Promotes Leadership Recognition
In describing the most memorable recognition they’ve received, 28% of people said it came from their manager, and 24% said it came from a high-level leader or CEO. However, 82% of employees feel like their supervisors don't recognise them enough, and 52.5% of people want more recognition from their direct supervisor.
Employees want their managers, supervisors, and executives to take notice of the great things they’re doing. With social recognition software, those in leadership positions can provide public acknowledgement and keep up with employees’ small achievements thanks to peer-to-peer recognition.
Ready to Get Started?
The virtual manner of today’s workplace necessitates virtual solutions. If you’re interested in getting started with social recognition software, Terryberry is here to help.
Contact us to learn more or schedule a demo. Our 360 platform is designed to incorporate social recognition, employee benefits, milestone awards, and communication channels all in one place.