Use EX Analytics To Drive Your Employee Recognition Program
Employee recognition experience analytics gives you actionable data that can help you build reward and recognition programs that truly inspire your employees. To do this, a machine learning-enabled employee experience (EX) platform analyzes employee satisfaction metrics in an advanced capacity, and from across data sources, rather than just traditional employee surveys.
In this article, we talk about why employee engagement is critical to a business and how you can use EX analytics to drive your employee experience through meaningful and effective recognition programs.
Why Employee Recognition Experience Is Crucial
Employee recognition is one of the most important functions of a people management department in any organization. According to research conducted by Gartner, [only about 11% of employees](https://www.gartner.com/en/human-resources/insights/employee-experience#:~:text=Today's employee experience is falling,onboarding investments and workplace redesign.) truly feel satisfied at work. This is a troubling statistic but one that organizations are taking seriously because they have begun to realize the importance of the voice of the employee in a company’s growth and productivity.
Many companies are already exploring out-of-the-box ideas. Stories abound as to how bosses who have taken personal pay cuts to ensure that all employees are given the recognition they deserve, both in terms of monetary compensation and social rewards, have seen company revenue triple.
Analyzing employee recognition experience data can help you build tangible, relevant, and more rewarding employee recognition strategies. They also give you nuggets of information that you can use to build valuable internal stakeholder partnerships and reinforce employee appreciation.
A truly inspiring employee recognition and reward program can substantially-
- Improve employee mental health and well-being;
- Increase employee productivity;
- Drive better engagement;
- Lowers turnover and retain talent;
- Amplify employer brand;
- And increase revenue manifold
Interested in learning more about Repustate's multi-channel employee experience platform?
How Can You Use EX Analytics To Drive Your Employee Recognition Program?
Employee recognition experience analytics empowers your human resources (HR) teams to build a holistic, cross-organizational employee experience strategy. A strategy that promotes a great corporate culture and results in attracting and retaining talent.
Here are the top ways in which you can use EX analytics to drive your employee recognition program.
1. Develop career-based rewards
EX analytics empowers you to understand your employee better so that you can develop an incentivized professional growth plan for them. EX analytics can tell you where your employees’ potentials and passions lie and what kind of support for their professional growth they would like from the management. This is crucial in satisfying recognition and reward programs.
This information can also be very insightful in helping you nominate great candidates to senior positions from within your organization instead of hiring externally, which needs more investment of time and resources. Read this customer success story to see how Repustate’s EX Analytics platform helps Nutanix in nurturing employees.
2. Use cross-channel data for a holistic reward program
An AI and machine learning-driven platform can analyze text data from surveys, internal communication channels as well as videos and presentations, through its video content analysis capabilities. This is key when you employ social business platforms like LinkedIn, Xing, or Meetup.
You can use these platforms to not only reward your employees through social recognition but also measure sentiment in social impressions. Measuring the reactions on these channels helps you know the pulse of employees and also keep track of your employer brand, which is essential for attracting top talent.
3. Empower employees with better feedback programs
Employee attrition can be a challenging factor for any organization. One of the top things that can help you retain top talent and attract new ones is building a powerful feedback program based on employee recognition experience. Being seen, heard, and rewarded for their feedback, and actually seeing their suggestions in tangible ways, can be instrumental in boosting employee loyalty.
Feedback programs also help address gratitude perception gaps. These perception gaps seem to be the biggest problem that companies face today per a survey conducted on Glassdoor. The study showed that where 67% of managers felt they were being generous with recognition, only 23% of employees agreed. EX analytics helps you overcome this problem so that there is a balance between employee and employer perception of recognition.
4. Increase employee engagement and recognition
Employee loneliness is a real thing. An employee recognition experience analytics platform can give you insights that show you how you can energize your employee engagement and boost your reward and recognition with the help of its sentiment API. A work outing, gift cards, physical gifts, gift cards, peer-to-peer recognition - you can find the most inspiring ways to enhance your reward program by analyzing sentiment in your employee experience data.
5. Discover team dynamics
EX analytics can give very resourceful findings from employee experience and voice of the employee data that can show how employees feel in teams, and what sentiments are more prominent to which aspects of the workplace. Repustate’s EX platform showcases these details for your benefit in its aspect emotion co-occurrence features in its sentiment analysis dashboard.
6. Give employees more relevant rewards
Relevant rewards are equally important to the employee recognition program itself. For example, a McKinsey study on work during the covid19 pandemic revealed to organizations that employee productivity actually increased with remote working. This could be simply because there are fewer distractions, freedom from the hassles of long commutes, and other factors.
This has lead to many organizations offering work-from-home options even after lockdowns, as a thank you for the accountability and responsibility shown by employees. In itself, this reflects how companies need to think of building reward programs that go beyond the traditional perks of a better office space or spacious parking.
7. Measure the success of your recognition programs
An EX analytics platform allows you to track the key performance indicators you have defined for the success of your employee recognition experience program. You can track the sentiment trend of your programs and compare them year-on-year, or based on any time-frame really, while also discovering what aspects of your program are garnering the most feedback, and which are attracting the most positive, negative, or neutral sentiment.
8. Create an inclusive, human-centered work environment
People want to feel that they matter. Despite the reality that each function that an employee attends to is essential to the success of an organization, studies show that physical forms of appreciation and reward are necessary. In fact, 85% of employees say that hearing a thank you from their managers is important to them. EX analytics can show you the satisfaction levels of employees, help you with inspiring employee recognition program ideas, and drive up employee recognition experience.
See how Repustate's helps you Turn Employee Feedback Into Action.
Repustate’s Employee experience platform, Repustate IQ, enables you to build a pertinent employee recognition program that comprises social recognition as well as incentive-based professional development. It helps you bridge the gap in recognition perception between your management teams and employees, which helps build a more trusting corporate culture.
You can train the platform to fit your industry by choosing the aspect model based on your requirements. Furthermore, because Repustate IQ can natively analyze 23 languages, you are assured of high-precision insights wherever your offices may be located.
Reach out to us to see how AI can help your employee recognition experience.