Social Employee Recognition Systems Market: Global Size, Trends, Competitive, Historical & Forecast Analysis, 2019-2025- Increasing implementation of social employee recognition systems in the various organizations to improve productivity and overall work culture by transforming business processes is the key factor driving the growth of Global Social Employee Recognition Systems. Social Employee Recognition Systems Market is valued at USD 8.10 Billion in 2018 and expected to reach USD 21.22 Billion by 2025 with the CAGR of 14.75% over the forecast period.
Social employee recognition is now becoming an important part of an organisation’s talent management strategy. Social recognition systems are used for the process of providing employees motivational approach to create valuable relationships with each other. Organizations utilize the social recognition systems have transformed the results into positively. Employee recognition systems monitor the individual behavior with regular interval of time and help the organization’s to achieve its goals and values. These systems are helps to improve employee engagement and also aligned their efforts towards organizations’ goals.
Social employee recognition systems market report is segmented on the basis of deployment, end-user and region & country level. Based upon deployment, social employee recognition systems market is classified into on-premise and cloud-based. On the basis of end-user, market is classified into consumer & retail, IT & telecom, healthcare, manufacturing, travel & hospitality and others.
The regions covered in this Social Employee Recognition Systems Market report are North America, Europe, Asia-Pacific and Rest of the World. On the basis of country level, the market of modular construction is sub divided into U.S., Mexico, Canada, U.K., France, Germany, Italy, China, Japan, India, South East Asia, Middle East Asia (UAE, Saudi Arabia, Egypt) GCC, Africa, etc
Key Players for Global Social Employee Recognition Systems Market Reports-
Some major key players for Social Employee Recognition Systems market are Kudos, Achievers Corp., REFFIND Ltd., Globoforce, Terryberry, Ultimate Software, Peoplecart, Corporate Rewards, Paramax, BI WORLDWIDE EMEA, and Incentive Logic and others.
Leading Organizations are Looking for New Ways of Getting the Higher Productivity is the key factor Driving the Growth of Social Employee Recognition Systems Market.
Social employee recognition systems is witnessing a lucrative growth owing to the increasingly adoption of social employee recognition systems by administrators or management team especially HR team across the world. Globally, organizations spend around USD 46 billion on recognition to strengthen a company values and about 75% of organizations have a recognition program. Global employee engagement survey concludes that rewards and recognition is one of the strongest driver of employee engagement, thus many organizations are inclined to implement social employee recognition solutions in order to motivate higher performance of their employees. Around 41% of companies’ uses peer-to-peer recognition has seen noticeable positive increase in customer satisfaction. Moreover, social employee recognition systems help to enhance company’s overall work culture for sales performance, quality customer service and other positive professional ventures. Social employee recognition systems are relatively expensive to recognize employees on a daily basis which may hamper the growth of social employee recognition systems market.
North America is Expected to Dominate the Global Social Employee Recognition Systems Market.
North America is expected to account for the largest share of global social employee recognition systems market within the forecast period. The growth of social employee recognition systems is attributed to the presence of IT infrastructure and technological innovations in this region. Europe is second largest region followed by Asia pacific owing to employers adopting new technology solutions have shown major improvement in productivity and profitability. According to National Employee Research survey in U.K. stated that over 90% of employees feel that employee recognition programs is important at workplace.
Key Benefits for Social Employee Recognition Systems Market Reports –
- Global market report covers in depth historical and forecast analysis.
- Global market research report provides detail information about Market Introduction, Market Summary, Global market Revenue (Revenue USD), Market Drivers, Market Restraints, Market opportunities, Competitive Analysis, Regional and Country Level.
- Global market report helps to identify opportunities in market place.
- Global market report covers extensive analysis of emerging trends and competitive landscape.
Social Employee Recognition Systems Market Segmentation:–
- Cloud-based services
- Consumer & retail
- It & telecom
- Travel & hospitality
- North America
- Asia Pacific
- Southeast Asia
- Latin America
- Middle East and Africa
- Rest of Middle East and Africa
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