The global social employee recognition systems market is expected to witness significant growth over the forecast period. Social employee recognition systems are built to value an employee’s contribution to 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 the extra mile in their specific domain to set new milestones. Hence, boosting morale becomes important in such scenarios. Thus, social recognition at the workplace is an important aspect of 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 system global market is segmented into web-based, software as a service (SaaS), and cloud-based.
On the basis of geography, the global social employee recognition systems market is classified as 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 systems global market include Kudos, Achievers Corp., REFFIND Ltd., Globoforce, Terryberry, Ultimate Software, Peoplecart, CorporateRewards, Paramax, BI WORLDWIDE EMEA, and Incentive Logic.
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