Social employee recognition systems are built to value an employee’s contribution towards an organization’s growth. In order to boost employee morale and value their involvement in critical projects, such systems prove worthy. Due to technology novelty, social employee recognition systems are widely implemented in almost all size organizations.
Apart from perks and accolades, an employee’s mental needs are to be taken care of. Productivity is doubled if an employee feels positive about his organization. Such employees go extra mile in their specific domain to set new milestones. Hence, boosting of morale becomes important in such scenarios. Thus, social recognition at workplace is an important aspect in human resources and the power of employee recognition creates an excellent workplace.
The major driving factors for social employee recognition global market is technological innovations delivered via software-as-a-service (SaaS) applications. On the basis of deployment, the social employee recognition global market is segmented into web-based, software as a service (SaaS), and cloud-based.
On the basis of geography, the social employee recognition global market spans North America, Europe, Asia-Pacific, Middle-East and Africa. North America dominates the global market owing to technological innovations and novel employee workplace ideas. The market is expected to witness a higher CAGR for the forecast period. APAC regions are estimated to register steady growth as employee morale as a concept is now looked upon with great significance.
The key players in the social employee recognition global market includes Kudos, Achievers Corp., REFFIND Ltd., Globoforce, Terryberry, Ultimate Software, Peoplecart, CorporateRewards, Paramax,BI WORLDWIDE EMEA, and Incentive Logic.
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