SOCIAL EMPLOYEE RECOGNITION SYSTEMS MARKET ANALYSIS

Market Concentration and Competitive Landscape

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Fostering Collaboration and Knowledge Sharing

Another key driver for the growth of social employee recognition systems is their ability to foster greater collaboration and knowledge sharing among employees. With these platforms, employees can recognize and appreciate their peers for helping with a project or for sharing their expertise. Such acknowledgment nurtures positive inter-personal relationships and cross-functional cooperation. It demonstrates that the organization values teamwork and collective problem solving over working in silos.

Employees are encouraged to build their professional networks and learn from each other. They are more willing to take on stretch assignments requiring partnership with others when there is a transparent system to recognize joint efforts. Managers can highlight examples of collaboration to reinforce such behaviors organization-wide. Knowledge assets get greater exposure and reuse when people are commended for documenting and disseminating their learnings. Over time, the system strengthens collaborative habits and a culture of learning in the organization. It facilitates informal and social learning, preparing employees for variable job demands. The informed and connected workforce can quickly respond to new market conditions.