Global Employee Engagement and Feedback Software Market size is expected to reach USD 2.13 billion by 2026 from USD 0.817 billion in 2019 at a CAGR of 14.7 % over the forecast period. The increasing contract jobs for professionals, expanding outsourcing activities, growing virtual workplace, and challenges faced on the employee engagement front, are expected to drive the market substantially during the forthcoming period. Employee Engagement and Feedback software help the organizations in getting the responses from employees to recognize accomplishments and conduct promotion activities. This software is deployed in the HR Department to improve operational competence and reduce human error. It allows managers and peers to find out the discrepancies between employee performance and engagement and organizational expectations and, helps in devising suitable engagement activities. It is useful to organizations which find it difficult to retain employees. Most advanced employee engagement software is deployed by Human Resource (HR) departments and they are available on a subscription basis as software or service.
“The Key Drivers of the Global Employee Engagement and Feedback System market are Increase in the number of organizations and Implementation of advance technologies and Adoption of smartphones.”
Employee engagement is becoming a crucial part of organizations due to a surge in the number of organizations. More and more organizations demand the same for employee engagement responses & retention and better employee recognition as well as for transparency in assessing employees and healthier communication. Employee involvement is an area where companies need progressive technologies to track every minute of employees so that they can deliver better solutions and a work atmosphere. Employee engagement software enables them to do so and stands the tremendous growth opportunities.
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The growing adoption of smartphones has driven organizations to opt for employee engagement software, which is available on the phone as well. Desktop-based systems need manual upkeep, such as installing updates and alarms regarding operation time. In contrast, task delivery through handheld devices takes less time and improves employee competence.
Growth Drivers
Increase in the number of organizations and Implementation of advance technologies.
Employee engagement is becoming a vital part of the organizations due to expansion in the number of organizations, and its growing need felt in improving the output of organization and employees and retaining the employees and, for better employee recognition, assessment transparency, and healthier communication. Employee involvement is an area where companies need progressive technologies to track every minute of employees so that they can deliver better solutions and work atmosphere. In the coming years, the HR operations will be governed by AI, IoT, and Machine Learning technologies depend rather than the software tools; rather than technologies like Artificial Intelligence, machine learning, and the Internet of things (IoT) will be applied.
Increasing adoption of smartphones
The growing adoption of smartphones has helped organizations opt for employee engagement software, which exists on the phone as well. Desktop-based systems need manual upkeep, such as installing updates and alarms regarding operation time, whereas task delivery through handheld devices take less time and improves employee competence. This suitability is expected to strengthen the market growth during projection time.
“The Leading Players” operating in the Global Employee Engagement and Feedback System Market are The leading players considered for market analysis are Tap My Back, Officevibe, KaiNexus, Teamphoria, Bitrix, Qualtrics, Synergita, Technology Advice, Quantum Workplace, Zinda, Vocoli, Motivosity, and Transcend,15 Five, Culture Amp, Tiny Pulse, Weekdone, Impraise, Achievers, Reflektive, BAM Creative, Hyphen, Saba Software, Teambit, SurveySparrow and others.
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