Signs that the organization needs a new employee rewards and recognition platform

Technology has deeply impacted the everyday functioning of organizations. In addition to ensuring the automation of various complex business processes, it has also helped in enhancing the employee experience, engagement, and overall behavior. Even employee rewards and recognition programs have benefited from the use of technology. In fact, the experts are of the opinion that the use of technology in employee recognition systems, makes them more meaningful and an integral part of the organization’s employee engagement roadmap. A well-integrated employee recognition platform can provide amazing results in terms of enhancing the organization’s culture and employee retention through a seamless experience that brings people and businesses together.

Benefits of an effective recognition platform

Recognition is extremely impactful in any work environment and boosts the motivation and performance of employees significantly. A good recognition platform helps in driving deeper employee engagement besides making the rewards programs fair, connected and operationally efficient. It also helps in making the recognition program more transparent and integrated with the core values and culture of the organization. Most importantly, it enables employees to be recognized for their achievements in real-time.

Need to adopt a new recognition platform

Most organizations choose a recognition platform after careful consideration of the various factors that might impact their efficiency and usefulness. However, organizations need to understand that even the best systems need to be re-assessed from time to time. Business and work environment is constantly changing; these changes can severely impact the effectiveness of even the most perfect recognition platform. Given this, organizations might  have to look a more advanced and relevant recognition platform from time to time, to continue driving enhanced greater engagement of employees.

When to change the rewards and recognition platform

As mentioned above, it is important for organizations to regularly assess the suitability of the current rewards and recognition platform based on their current and future organizational needs. They need to keep an eye open for any of the below-discussed gaps that might arise with respect to the existing platform and thus prompt them to start looking for a new one.

  1. Inefficient recognition process due to difficulty in budgeting and administration

One of the key benefits of using a recognition platform is that it helps in easy budgeting and administration, increasing the efficiency of the process. However, many times organizations find it increasingly difficult to manage and track recognition efforts using the current platform; reducing the effectiveness of the entire program. This, in turn, may result in an increase in the manual efforts and the administration costs of the program unless the platform is replaced with a more efficient one.

  1. Reduced flexibility in responding to changing business needs

Businesses today are undergoing rapid changes in line with customer expectations and market needs. However, if the current recognition platform being used by an organization is not flexible enough to respond to the changes required in the workplace driven by business needs, it definitely needs to be replaced. Not doing so can make the recognition program obsolete and ineffective. This can, in turn, make the employees feel dissatisfied and undervalued, affecting their engagement and productivity.

  1. Improper integration with social media platforms

Social media (internal or external) integration plays an important role in enhancing the effectiveness of any employee recognition program. Apart from influencing the social recognition of employees for their positive performance,  it also helps in hiring and building a brand as an employer.  However, if the recognition program does not provide proper integration with the right social media tools, the program might lose its effectiveness. In such a scenario, it might be better to switch to a new platform that has better integration features.

  1. Difficulty in tracking and reporting

Organizations need to be able to measure the success or failure of their employee rewards system in an accurate and timely manner. This should be one of the key features offered by any good recognition platform. However, if the current platform makes it difficult for an organization to track and report such details, it would be better to look at alternate options. Not being able to track the program metrics might become a big bottleneck towards the effectiveness of the recognition program.

Constantly monitoring and benchmarking the effectiveness and relevance of the recognition program and the platform being used by them is essential for organizations to know when to change over to a new and better platform.

Signs that the organization needs a new employee rewards and recognition platform

HiFives Team

HiFives is a global software-as-a-service platform for employee rewards and recognition. The HiFives team partners with its clients to understand, design and deliver employee rewards and recognition program through the HiFives platform incorporating industry best practices and thought leadership.

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