target audience: TECH BUYER Publication date: Sep 2024 - Document type: IDC Perspective - Doc Document number: # US52580924
Recognition and Belonging Evolve into Business Value Change Agents
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Abstract
This IDC Perspective discusses the role of recognition in pulling away from core rewards management and employee well-being to build independent equity with a standalone value proposition. In the process of its evolution, recognition is drawing workforce belonging into its orbit as programs for diversity, equity, inclusion, and belonging (DEIB) thread into more diverse business objectives and planning. Companies using or considering deploying recognition systems should evaluate their independent potential to contribute workforce behavioral insights alongside VoE tools and resources. While recognition systems carry significant benefits for improving and aligning corporate culture across the workforce, modern recognition systems can also be informers and drivers of belonging, inclusion, and operational optimization engineering.
"The recognition space is defining itself independently within the field of employee incentives tools and resources," says Zachary Chertok, research manager for Employee Experience at IDC. "Compared with rewards and well-being, recognition is only semi-transactional and completely digital. In other words, recognition carries a significant data component that to date, only market leaders have tapped into to further guide and inform their EX transformation efforts."