The global employee engagement software market was valued at US$ xx million in the year 2018 and is expected to reach US$ xx million by the year 2023, growing at a CAGR of approximately 13.4%. For the purpose of increasing job satisfaction among employees and retaining them, nowadays, organizations use an application program called employee engagement software. The main objective is to benefit workers by helping them to engage with the culture of their organization, so that they can be more productive, efficient, and effective. The software is sold on a subscription basis to organizations as a software as a service (SaaS). This kind of software is also known as workforce engagement software.
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In a formal management model, every organization applies several approaches to motivate workers, which results in better productivity and loyalty. With the increasing adoption of HR technology solutions, employee engagement software has become an important tool for the HR department for reducing attrition rate, encouraging innovations, and increasing profitability of the organization. Most of the engagement systems are optimized for mobile applications for the engagement of permanent and part-time employees who are frequently on their smartphone.
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The target customers for this kind of software are online contact and service centers, i.e., call centers. This software is used to combat stress and attrition of employees in an organization. Employee recognition is the most commonly found component in every engagement platform. The software vendors are selling specialized software for the recognition of teams and individuals for giving reward or achievement to the employees. Moreover, the employee feedback tool is also an integral part of the engagement software platform, which enables employees to express their ideas and feelings about policies and work topics.
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