Peer Recognition Software is a fantastic way to increase employee engagement and reduce employee churn rate. It adds the benefit of driving greater customer retention and satisfaction levels. 

Recognition is an essential psychological need for both the personal and professional parts of people’s lives. Sometimes it’s even more important for recognition to happen at the workplace since we typically spend so many hours of the day with one another at work every day of the week.

Peer recognition software also helps break down collaboration barriers, such as competition, and instead fosters an environment where employees are confident their hard work is noticed and valued. They feel safe that the whole team is working together to achieve the company’s goals. 

As the premier engagement marketing company, with nearly a decade of experience, we have worked with companies of all sizes and helped them supercharge employee outcomes.

The Reason behind the Success of Peer Recognition Software

Employee recognition efforts, especially ones that push for peer-to-peer recognition and collaboration, have many positive results for companies implementing them. This is why Peer recognition software are in such a high demand. 

In fact, according to a survey, 41% of companies that utilize a peer-to-peer recognition program have seen significant positive changes in customer satisfaction, and that peer-to-peer recognition is 35.7% more likely to have a positive impact on financial results than manager-only recognition. 

With NextBee, brands can seamlessly enhance their employee’s productivity with employee-oriented software that has excellently performing features. The employee engagement software by NextBee creates a 360-degree positive impact on the work environment with:

• Faster Onboarding
• Peer Coordination
• Increase in Productivity
• Boost in Referral Activity

Let’s look at some ways to empower your team, improve team performance, boost recognition within team, and create employees who are happy to work for you and likely to become proud brand ambassadors. 

Establish a Feeling of Team 

When collaboration increases, the development of a true sense of team also develops. The sense of peer recognition grows from the individual to the team and, more times than not, it quickly spreads across the company. 

Enhance Productivity and Quality 

As employees start being recognized, they will push to have it continue and they usually develop the habit of giving more kudos which continues the cycle of recognition and thus encourages a stronger drive towards excellent work. A peer recognition software allows managers to quickly share kudos with the top performers.

Inspires Collaboration 

Peer recognition software builds trust and appreciation for employees and their teammates, which results in more proactive collaboration among employees. 

Increases Employee Satisfaction 

When people are recognized, they begin to take more pride in their work and happily go to work every day. Simple thank you and kudos for a job well done goes a long way to boost happiness and performance.

And, if given a simple tool to do so, nearly 50% of employees would provide ongoing peer recognition. Just think of the ROI that would create. 

Increases Communication Channels 

Having a peer recognition software where kudos can be shared across the company encourages inter-departmental communication. It helps to strategize the work and empowers teamwork with openness and transparency.

It creates breaks down department silo walls and reduces frustration levels that arise from perceived lack of communication.

Additionally, when employees receive recognition for being helpful, they quickly learn to make things positive both internally and externally. They put extra effort into developing peer recognition and collaboration. It is an effective way to increase motivation and productivity. 

Improve Overall Company Condition

And finally, peer recognition software improves the overall company’s work environment. Various scientific studies have shown that the connection between emotional happiness and the welfare of individuals is vital. If employees feel recognized and happy, the better company would perform. 

Conclusion

Undoubtedly, engaging employees aptly reduce churn rate, improves morale, and overall engagement. It also creates a more positive company culture. Peer recognition software positively affects the individual, the teams, and the company.  

A good peer recognition software can work wonders for your teams. It is important that managers join in for recognizing others and receive recognition since it increases the faster adoption rate into the program. Ultimately, it truly boosts company morale from the top down. 

As stated earlier, NextBee is the leading peer recognition software provider and with nearly a decade of experience, we have worked with companies of all sizes helping them supercharge employee outcomes.

Do you need more ways to empower your teams? Want to improve team performance? Boost overall sales? Or, create a company culture where employees are happy to work for you? 

Let’s connect to explore more.