When it comes to employee recognition software, you've got options.
The need to invest in employee experience is at an all-time high, and employee recognition software is a key part of that investment.
According to employee engagement survey results from over 250 companies published on Harvard Business Review, the most profitable and successful companies are all investing in employee experience.
Recognition is a key part of building the employee experience. A Glassdoor survey of employees revealed that appreciation is the single most effective motivator in day-to-day work. Choose carefully when investing in employee recognition software — you are investing in your company's performance.
Before you shop, build your business case.With the right employee recognition software in place, a positive employee experience can follow, leading to a stronger bottom line.
A well-vetted employee recognition software shouldn't be seen as a cost center then. Over time as the employee experience is improved, your organization should see key performance indicators such as turnover and productivity improvements as well.
When you factor these into the business case for an employee recognition software, the ROI is enough to pay for the program multiple times over. Business Case for YouEarnedIt
DO'S and DON'TS of Employee Recognition Software Shopping
Once you begin choosing an employee recognition software partner, you’re going to want precision from their product and proven results from their platform. Before you decide to buy, consider a few key do’s and don’ts.
- DO: Make sure you're getting transparent pricing before you buy.
- DON'T: Get lured into a low-cost solution, only to discover hidden service fees, reward markups, or other budget-derailing surprises.
- DO: Look for testimonials, case studies, quotes, and awards. After all, experience matters.
- DON'T: Rely solely on the salesperson to assess the long-term viability of a program.
- DO: Look for a long-term partner who offers valuable analytics and ongoing coaching.
- DON'T: Pick a standalone product that won’t help you launch your initiative, grow with your company, adapt to your needs, or clearly reinforce your company values.
DO: See a demo of YouEarnedItchevron_right
5 Major Steps for Finding the Right Employee Recognition Software for Your Company
To simplify the process of researching, finding, and choosing an employee recognition software that works for your company’s specific needs, follow these five major steps.
1. Know Why You’re Investing
Recognition and rewards are an integral part of your company’s employee experience, so it’s critical to get a platform that fits your company culture on the first try.
Most companies are competing for a limited talent pool. Millennials make up more than half that talent, and they are motivated differently than their Gen X or Boomer managers. Plus, employee engagement is at an all-time low (only 33% according to Gallup). These stats should reinforce why retention and recruitment are ongoing challenges — challenges you need the right employee recognition strategy to help address.
2. Identify the Need
Redefining recognition isn’t just about building happiness. It’s about getting a measurable but achievable boost to employee performance or motivation. Sometimes it’s about solving a problem. Sometimes it’s about preventing one.
Before you start evaluating different employee recognition software options, it’s important to understand your company’s true goals and use them to fuel your search.
Knowing what you really want is going to help you get it right the first time. You want your solution to address your real, root goals.
Here are some key questions you can use to get to the core of those goals. These answers can give you a clear set of metrics to use, both to evaluate each software option — and to show your management how you’ll know if your choice is successful.
- What are some of the corporate challenges that are affected by your employee recognition and employee experience programs?
- What performance metrics would you like to see benefit at your company, and by how much?
- What matters to your employees? What gets them motivated in their work or life?
3. Investigate Budget and ROI
Now that you’ve read the stats on employee experience and clearly laid out the core reasons why your company needs to invest in employee recognition software, it’s time to look at the budget.
There is, understandably, confusion about deploying an employee recognition software. You’re going to get questions about cost, terms, budget, and ROI. Your management will likely want to know three things: What plans did you consider (and why?), how will you fund your plan, and what metrics you’ll use to know if it’s successful.
Here are the basic questions to bring vendors concerning terms and pricing. All vendors are different, so make sure you ask each question every time you interview a new one:
- What functionality is included in the contract, and what’s NOT included (meaning it comes at extra cost)?
- Does the fee structure include things like software licensing fees, support fees, customization, and convenience fees, or will we be caught off guard by these later?
- What reporting or analytics are included with this contract and within the software itself?
- Can you provide examples of how this employee recognition software has helped similar companies with our needs?
4. Comparison Shop
When you’re looking for the right employee recognition software for your company, you’ll come across many options to compare.
To save put together a detailed question list — this will be your “cheat sheet” for quickly yet comprehensively comparison shopping. Questions should include:
- Vendor questions (cost structure, launch support, customer retention)
- Platform questions (benefits, ease-of use, implementation, ongoing support, customization, tax implications)
- Recognition questions (core philosophy, types of recognition that can be sent, custom needs for your company)
- Using these questions will help you make an informed choice and communicate it to your management team.
Once you walk through our five steps, you’ll have all the tools you need to make the best decision possible for your company, and make the best case for your decision internally.
When you’re ready to dive in and begin your search, we hope you’ll consider YouEarnedit. But either way, this process should help you get the right partner for your company’s employee engagement needs.
Recognition and Rewards Buyer's Guide
Recognition and rewards are an integral part of your employee experience — and, let's face it, your budget. So finding the right fit for your company is critical.
Whether you are looking for a comprehensive engagement strategy or just want to streamline your recognition approach, we can help simplify your search process. Find the right employee recognition software for your company quickly and easily by downloading our Recognition and Rewards Buyers Guide.Learn More