Employee Recognition Software

Part
01
of three
Part
01

Employee Recognition Software - Company Comparisons

Bonusly and Motivosity have a 4.7 out of 5 rating in G2, while Kudos have 4.8 out of 5. The research team has provided additional information regarding the research request in the attached spreadsheet.

Employee Recognition Software

1. Bonusly

  • G2 overall rating: 4.7 out of 5

Features

  • Bonusly offers monthly allowances to employees. This was designed to give bonuses for recognizing contributions of colleagues.
  • Bonusly interface are quite engaging and they make employee recognition easy. Bonusly interface also enhance the value of colleagues' work.
  • In Bonusly, rewards can come as gift cards from most popular brands such as Amazon, Nike, Starbucks, PayPal, and so on.

Product Differences

  • Bonusly utilizes simpler user interface
  • Bonus products can be integrated into Zapier, Igloo, and Jostle.

2. Kudos

  • G2 overall rating: 4.8 out of 5

Features

Product Differences

  • Also, Kudos products can be integrated into Zendesk.

3. Motivosity

  • G2 overall rating: 4.7 out of 5

Features

  • Motivosity provides easy avenue for colleagues to appreciate each other on their peer-to-peer recognition system.
  • This company has over 200 digital gift cards to redeem for rewards.
  • They also have feedback and surveys.
  • Motivosity offers various products such as Insights, Org-chart, awards, milestone, highlights, announcement, and external giving of thanks.

Product Differences

  • In Motivosity, Org-chart, and other statistical insights can be within their platform.
  • Motivosity products can be integrated into Tango Card, Namify, and Salesforce.

Research Strategy

To compare the product features and users' preferences for Bonusly, Kudos, and Motivosity, we searched through each of the company's website and their G2 ratings. Here, we were able to identify the required information concerning each of the product features and user preferences. To provide a list of unique features, we found out that majority of the companies' features are the same. For instance, each of the company provides monthly bonuses, gift cards as rewards, usage points as rewards, and customizable rewards. The companies major difference is the integration they provide to other platforms, which we have highlighted in their product differences. The research team has provided additional information in the attached spreadsheet.









Part
02
of three
Part
02

Employee Recognition Software - U.S. Market Size

    After an extensive search, the research team was unable to identify or triangulate the total market size of employee recognition software in the US. As a result, some helpful findings have been provided below as compiled from various paywalled reports. These findings include data specific to the global employee recognition software market as well as related sectors like social employee recognition system and employee reward system software in order to give a general view of the market in terms of size and growth. It is important to note that the figures presented are not specific to the US market but cover the global market, as there are no reports that are specific to the US employee recognition software.

    HELPFUL FINDINGS

    • According to Future Market Insights, at the end of 2016, the global market for social employee recognition solutions generated more than $5.15 billion in revenue at a growth rate of 14.3%.
    • The global market is projected to grow to around $19.59 billion by 2026.
    • North America is the dominant player in the global employee recognition software market and is expected to account for over one-third of the revenue reported between 2016 and 2026.
    • North America enjoys technological innovations and novel employee workplace ideas, which have scaled the growth of the employee recognition software market.
    • Key players in the market include Kudos, Workstride, Kwench, and Reffind, among others.

    RESEARCH STRATEGY

    To determine the size of the US employee recognition software market, we started by searching through industry reports published by leading research firms like Grand View Research, Forrester, Gartner, IBISWorld, Euromonitor, Million Insights, and Allied Market Research. Also, we searched for research papers published by research firms like Deloitte, EY, McKinsey and Company, PwC, and Accenture. We got several reports from this search, but all of them were paywalled. Besides, the reports were not specific in terms of geographical coverage, as well as the products included; they covered the global market with just a few sections touching on the North American market. Also, most of the reports we got are not specific to the employee recognition software market only, as some have included elements like "social employee recognition system" and "employee reward system software" in their research. Although they are related, they are not similar to employee recognition software.

    We then searched for any news articles, press releases, interviews and comments from leading general and business websites like Newslookup, WSJ, Forbes, CNN, New York Times, Fortune as well as digital and tech websites like TechCrunch, The Next Web, and Gizmodo. However, all these sources seemed to cite information from the above research reports, with most highlighting paywalled reports and offering links to the original publisher. We also looked at software review websites like G2 Crowd, GetApp, Capterra, and TrustRadius. However, these sites did not offer any data or insights into the US employee recognition software market.

    Finally, we searched for the sales reports and data from the market both in terms of units sold and the dollar value of the sale since the volume of sales can sometimes be used to determine the market size or growth. We searched for sales reports of individual companies as well as the industry. Most of the companies only listed the products they offer plus the prices. We then went deeper to look through their annual reports for the average sales per company in the industry as well as the total number of companies, to triangulate the market size, but most are privately held companies and don't file annual reports.




Part
03
of three
Part
03

Employee Recognition Software - Global Market Size

The global employee recognition software market is valued at over $5 billion and is expected to grow at over 14% between 2019 and 2025.

FINDINGS

  • The size of the global employee recognition software market is $5 billion. It is forecasted to grow at a rate of over 14% in the period 2019-2025.
  • In 2016, the market generated $5.15 billion in revenue and grew by 14.3%.
  • The global social employee recognition market will be valued at $19.59 billion by the end of 2026.
  • Large enterprises are expected to dominate the global social employee recognition systems market, accounting for 70% of the market share. Revenue from this sub-sector is growing at a rate of 15%.
  • In addition, on-premise deployment model is also anticipated to dominate the market with revenue from the sector expected to be over $14,000 million by the end of 2026.
  • Key players in the market include Kudos, Workstride, Kwench, and REFFIND among others.

Research Strategy:

To find the size of the employee recognition software market, we started by browsing research reports published by firms such as Grand View Research, Forrester, Gartner, IBISWorld, Euromonitor, Million Insights, and Allied Market Research. Although we were able to locate several reports, they were all paywalled, and only a few were exclusively pertaining to the employee recognition software market. Most of them only provided templates of their reports with a few details including market size, growth rate, and key players. The key findings in this report have been compiled from across multiple paywalled reports.





Sources
Sources