Employee motivation and engagement is necessary to boost the employees to do their best work and make them an integral part of the organization for more beneficiary actions.
FREMONT, CA: Organizations with an efficient award system are 15 percent more likely to make rewards and recognition for supporting team success than others. Performance management and motivation of the workforce intertwines each other, not the least because these same channels, which track performance and demand feedback, are often incorporated into tools to help managers and colleagues allocate bonuses or praises.
Many software platforms for employee participation like Motivosity, Kudos, AwardCo, Gifted, and Bonus.ly promote the appreciation by employees, as well as the distribution of token sizes and donation cards for products they can sell online or in the store.
Gone are the days when employee recognition and rewards were only meant seeing names on the announcement board with praise given by management. Today, technology changes how an individual is measured valued and rewarded by teams.
Here are five ways in which technology changed the traditional way of managing employee benefits and recognition:
• Automated Recording of Results: In the past, managers were expected to track their output by manually reviewing employee records. This meant that the annual performance reviews were carried out in print records one by one. However, teams can now access online surveys to collect data on employee performance and feelings and track patterns from a single dashboard with greater ease and consistency.
• Identifying Top Performers with Broad Historical Information: With the annual assessment now being combined for quarterly, monthly, or weekly review sessions, a more significant number of data is now available for an employee's evaluation. Over time, companies can assess high performance, recognize the contributory factors, and consider future challenges faced by low-performers based on past information. The fact that diverse historical data are generated and tested on several occasions – both in individual and in a team – will add to our high-performance staff's sophisticated understanding. This should encourage executives to make strategic resource decisions.
• Individual Employee Benefits: A thorough understanding of different actors – including their goals, ambitions, desires, hobbies, and preferences – will help managers to change their benefits. Some technology for human capital management often incorporates machine-learning to analyze the workforce's profile and meet each worker individually, whether through personal recognition or a personalized incentive.
• Social Media and Appreciation from Peer to Peer: Due to the increased interaction on group networks, the social web, corporate intranet, and team communication channels are best now understood and rewarded by managers and colleagues. Co-workers can even offer their groups or organizations peer-to-peer recognition.
• Instant Rewards: The age of immediate feedback requires immediate remuneration for an excellent job. Managers and workers that want to call out to a friend can now go a little further and include a thank you bonus with just a few quick clicks. Such incentives can be provided in the form of online gift cards and rewards points that can quickly be traded for real things like donuts, coffee and concert tickets, and online gift cards.
• Enhance the Balance Between Holiday and Job: Even the dedicated worker is burnt out when he or she has no balance of work and life. Happy employees both work and commit themselves to their lives outside the workplace. When an employer encourages them to have time for the things that are important to them, during their work, they will have more attention and energy. When an employer knows the conditions and situations of the workers, they are more willing to work hard if employers show employees appreciation and empower them to do the same thing.