The human identity is constructed upon a host of different elements, and yet none define it better than that desire to improve at a consistent pace. We say this because the stated desire has fetched the world some huge milestones, with technology appearing as a rather unique member of the group. The reason why technology’s credentials are so anomalous is centered on its skill-set, which was unprecedented enough to realize all the possibilities for us that we couldn’t have imagined otherwise. Nevertheless, a closer look should be able to reveal how the whole runner was also very much inspired by the way we applied those skills across a real world environment. The latter component was, in fact, what gave the creation a spectrum-wide presence and made it the ultimate centerpiece of every horizon. Now, having such a powerful tool run the show did expand our experience in many different directions, but even after reaching so far ahead, this prodigious concept called technology will somehow keep on delivering the right goods. The same has grown to become a lot more evident in recent times, and assuming one HRM-themed development pans out just like we envision, it will only propel that trend towards greater heights over the near future and beyond.
Bonusly, an engaging recognition and rewards platform that connects teams and enriches company culture, has officially released a set of updates that are all geared towards improving employee productivity and retention across the board. Talk about the stated enhancements, we start with an intuitive and accessible interface, which has been developed using feedback and analytics from over 3,200 companies and 400,000 daily users. Understood to be a WCAG AA accessibility supported interface, this functionality alone makes it significantly easier to locate data and then leverage it for desired results. Next up, we have a new Manager Giving Tracker that helps managers directly identify who needs more meaningful appreciation. The users can also, as a part of the given tracker, expect a Compare Rates feature to compare recognition rates across different organization segments, thus empowering the leaders in terms of focusing on teams and employees that might need a little extra support. Interestingly enough, companies that leverage the said updates will even have the means to maximize the employee recognition impact, and they can do so through custom feeds. You see, moving forward, Bonusly will facilitate the creation of custom recognition feeds based on team, department, location, and other factors, so to increase the meaning of such efforts for each and every employee. Hold on, there is more. The development is further bringing a more comprehensive rewards experience to the table. As a result, Bonusly’s proprietary platform will now be able to offer a catalog of more than 1,200 rewards in over 200 countries, custom rewards unique to every company, and seamless integration with AXOMO for a high-quality and hassle-free operation. Not just that, the setup will also deliver at our disposal a new reward named Point Boost, which is going to let users receive more points before they run out, eventually increasing recognition participation.
“Everyone has felt unappreciated at work at some point in their career, and many people have left a job because of it,” said Raphael Crawford-Marks, founder and CEO of Bonusly. “Our mission is to make sure that everyone sees how much their managers and colleagues value their work. Our platform encourages specific and frequent recognition, increasing retention and productivity. With the release of these new capabilities employees and managers across organizations of all sizes can deliver and receive the recognition needed to foster a high performing culture of appreciation.”
The move on Bonusly’s part provides an intriguing follow-up to a report from Gartner that pointed out a major employee retention problem. Going by the report, over 4 million US citizens quit their jobs monthly between July and November of 2022. This number is only expected to grow bigger. Contextualizing the report in question is another discovery from United Stated Bureau of Labor Statistics where it was claimed that labor productivity decreased 2.7% in Q1 of 2023, the biggest decline in 75 years, with a lack of recognition being touted around as a major factor.
“Research shows that employees who are appreciated are more loyal to their employers,” said Luis Jiminez, People Experience Associate at Headspace. “And one of the many ways we appreciate employees for their wins, hard work, and success is through Bonusly! Bonusly’s employee recognition platform has made an impact on retention and has helped ensure our employees feel seen and recognized by not only their team but the entire company.”
