Global Social Employee Recognition Systems Market Overview:
Social employee recognition systems help to give employee's contributions towards their businessís growth. In order to increase employee confidence and value their involvement in critical projects, that will enhance the productivity of any employee, which benefits the companyís profit also. With the increasing availability of social channels helps it as an easy process to recognize employees on a grand scale. The employee engagement platform integrates with social to get the good word out to a vast network of supporters. Employee recognition is able to inspire every action and interaction across the company. Some of the key players profiled in the study are SalesScreen (Norway), Workhuman (Ireland), Salesforce (United States), Reffind Ltd. (Australia), Achievers Corporation (Canada), Kudos (Canada), Madison (United States), Recognize Services (United States), Jive Software (United States) and BI Worldwide (United States).
On the basis of geography, the market of Social Employee Recognition Systems has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Deployment Mode, the sub-segment i.e. On-Premise will boost the Social Employee Recognition Systems market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Organizations Size, the sub-segment i.e. Small and Medium Size Organizations will boost the Social Employee Recognition Systems market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
- The Rise in Trend of Social & Public Celebration
- Increasing Inclination Towards Unified Culture
- Growing Demand for The Integrated Employee Recognition Platform by Considering Anniversaries, Nominations, Social Recognition for Managers and Employees
- High Adoption of Cloud-Based Solution Designed for Businesses
- Lack of Consumer Awareness in Under Developing Regions
- Increasing Number of SMEís Across the Globe Majorly in the Emerging Regions Such India, and China
- High Implementation Cost Associated with Social Employee Recognition System
Major Market Developments:
In Mar 2020, Benefex revealed that it will provide six-month free access to the customers because of the coronavirus pandemic. This tool is available for Android, iOS, and desktop. This allows employees to recognize their co-workers against company values.
There are a huge number of players are present in this market, this market is fragmented by new technology-based start-ups vendors who are highly focusing on production technologies, improving efficiency and product life. With the increasing number of opportunities can be captured by tracking the continuous process improvement and financial flexibility to invest in business growth strategies.
Venture Capitalists and Private Equity Firms, New Entrants/Investors, Analyst and Strategic Business Planners, Social Employee Recognition Software Providers, Government Regulatory and Research Organizations and End-Use Industries
Major Objectives Focused through this Study
To define, describe, and forecast the Global Social Employee Recognition Systems market on the basis of product [Manager-to-Peer Recognition and Peer-to-Peer Recognition] , application [Healthcare, Manufacturing, IT and Telecom, Travel and Hospitality, Retail and Consumer Goods, Media and Entertainment and Others], key regions and end user
To provide in-depth information regarding major influencing factors affecting the growth of the market (trends, drivers, restraints, opportunities, and industry-centric and regional challenges)
To strategically analyse the micro-markets and important business segments with respect to individual growth drivers , market trends and potential, and historical contributions to the total market
Identifying the opportunities in the market for key stakeholders and detailing the competitive landscape for market leaders
To provide market size for various segments of the Social Employee Recognition Systems market with respect to major geographies, namely, South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico)
To strategically profile the key players and analyzing their market shares and core competencies in the Social Employee Recognition Systems industry
To track key developments such as product launches, expansions, agreements, partnerships, mergers & acquisitions, and R&D activities that are key factors in shaping the market
Data related to EXIM [Export- Import], production & consumption by country or regional level break-up can be provided based on client request**. Additionally, the Players which are also part of the research are Awardco (United States), Hi5 Technologies (South Africa), eXo (France), Optimity (United States) and Fond (United States).
** Confirmation on availability of data would be informed prior purchase
While framing the research framework, major and emerging players operating in the Social Employee Recognition Systems market in various regions have been profiled, and their offerings, geographic footprints, and distribution/sales channels have been analysed through in-depth discussions. Top-down and bottom-up approaches have been used to determine the overall market size. Sizes of the other individual markets have been estimated using the percentage splits obtained through secondary sources such as Hoovers, Bloomberg BusinessWeek, and Dow Jones (Factiva), along with primary respondents. The complete methodology includes the study of the annual and financial reports of the key market players and extensive interviews with industry experts such as CEOs, VPs, directors, and marketing executives for key insights (both qualitative and quantitative) related to the market.