October 12, 2019
ROI on a Digital SAAS platform for Employee Rewards & Engagement
Since the technology has evolved in the management domain, it has become much easier for HR executives to create healthy engagement with employees. There is no denying that the digital medium or the technology has revolutionized the working process of the HR department. The transformation has blended three things together- mobile, social and cloud-based technologies, which in turn creates a progressive function. Among all the digital revolution happening in the HR working system, digital SaaS platform is the most effective changes happening.
This cloud-based technology is enhancing the work environment in every organization giving the HR department a clear insight and analytics. Moreover, it has given an opportunity for transforming function and systems digitally. Instead of using the traditional form of engagement, HR departments eagerly want to adopt the latest digital revolution for the success.
As we are in 2019, there is a widespread of digital SaaS Platform that comes with an enhanced method which will continue to accelerate the HR working and benefits managers serving better to clients and becoming a tech-friendly company. Investing in the digital SaaS platform will certainly give more ROI to the company because employees feel triggered for better approach and are encouraged to work better.
How Digital SaaS changing work methods?
SaaS powered workplace is a dream of every employee and HR because it enables both to use the best technology available. Some of the reasons why SaaS is the best technical implementation in any organization:
- Highly Collaborative: The best featured SaaS platform enables users to get real-time information and collaborate with different teams and time zones. This brings downtime consumption and replacing the traditional work method.
- Incredible Mobility: No matter where your employee is located, with SaaS you can still be connected and work smoothly. This platform is best for companies that have remote location working employees.
- Easy to implement and use: Implementing SaaS in the organization is simple. The software comes with an adaptive design that offers an impressive user experience. This digital platform is designed to help both HR and employees feel easy to implement and use.
Blended with multiple Features:
When implementing the reputed SaaS system designed by the company like Xoxoday, you receive multiple features in the form of rewards and gifts attached to it. Some of the features you get are-
- Creating and Managing Campaigns
- Automated points redemption points reminder
- Real-time employee mood survey
- Allocating reward budget
- Creating multi-layered users
- Create and manage polls
This system is easy to install and offers HR and employee a distinct feature to implement for easy organization of work.
Increase in the Productivity:
According to some HRs and employees, SaaS applications help in succeeding and overcoming the desktop alternatives. In fact, it has already taken over the possibilities of an alternative to desktop work. This has increased the productivity of every employee and HR for smooth flow of working.
With these benefits, the implementation of a SaaS platform is certainly the best option for companies, specifically to HR and employees.
Let us now check how the Digital SaaS platform has changed the workplace:
In 2019, SaaS platforms have helped to accelerate and create the ability for HR to create better engagement with employees and the smooth flow of work:
- Helps in reducing cost and waste:
One of the major changes that happened with the SaaS implementation is the reduction in cost over paperwork and printing. For an organization, these require a good investment which can be over expensive if the business increases over time. With the implementation of SaaS, the overhead costs come to a halt. In fact, the ROI is much better than before. For organizations, this technology implementation has not just become a necessity but a requirement. Many companies in India and the US have already implemented this new technology for cost-reduction and employee engagement.
- Helps in Creating Effective Reports:
The HR department has to create regular reports and analytics of every employee. With the SaaS implementation, HR executive can easily create detailed reports for point recharge and campaign effectiveness. This is one way of creating better engagement with employees and encouraging them to work better for the long term.
- Reduction in the Human Error:
In addition to the reduction in cost, with SaaS implementation, there will be a reduction in human error too. There are sensitive documents, moving which physically can sometimes create an error. For instance, employees are sometimes are given the option from the designation dropdown list, which can be useful for eliminating miscellaneous responses causing confusion. So it becomes important that employees are well-trained to use SaaS item and HR professional use it systematically. By managing documents online, there is less room for human error.
Different Departments Reaping Rewards:
From sales to marketing and IT, every department can reap the benefit from the SaaS application. Moreover, it brings down the complexity of the work and overall process of the company’s investment. This cloud system isn’t just beneficial to a specific department of the company, but to every department that falls under different vertical.
- Better Flexibility and Responsiveness from HR:
Implementing this cloud computing system helps the HR department to better understanding of employees working condition than before. Companies can have complete access to data and integrate with other applications used in the business. Earlier, the HR department found hard earlier to collate data can now produce insight with the implementation of SaaS. With this, HR can work in real-time data, which is a great advancement. The entire HR process is driven by data integrated with business data.
- Recognition and Employees Engagement:
The implementation of this system will have a major implication on the employees’ engagement with HR. This digital technology allows employees to have the opportunity to contribute to their workplace environment. The cloud system allows employees to share and collaborate with HR and other departments, to make things simple and easy. This eventually leads to greater teamwork and peer recognition.
- Complete Automation of Work:
The increased business will also increase the paperwork and other expenditure. According to the survey done by Career Builder, HR managers spend almost 30hours per week in managing tasks. However, with the automation of the business, this can be reduced in significant ways. HR managers can completely automate the mundane task which can be completely beneficial to the company. This could overall bring positive ROI to the company.
- Increase in the Accessibility:
It is often seen that both employers and employees complain about the engagement. Employers often get frustrated with the lack of engagement from employees end, the same is from the end of employees. This certainly affects the ROI which the employer accepts from the employee. With the implementation of digital SaaS, there will be an increase in the engagement. Employees can have access to the information that can benefit their work in all sense. Moreover, employees can also request for PTO and make healthcare enrolment.
Some of the Elements of Employee Engagement:
Implementing SaaS digital platform isn't the only method of engagement, but other methods are also effective to create solid engagement between employers and employees. Rewards in the form of acknowledgment, gifts and appraise, and more importantly seeking and giving feedback. Let us now check some of the elements of engagement:
One of the reasons why employees get disengaged with their job and less productive is because of less or no feedback. The employee may complete the task accurately within the stipulated time, but may not get the desired feedback. As an employer, you need to provide complete feedback in the form of points, badges and leaderboards. By implementing SaaS platform from XoXoday, you can use gamification system combined with an understandable system.
In the gamification system, the focal point is especially on employees’ progress that includes the sort of levelling system. This system represents the progress of employees towards the goal. The progress system is displayed in the form of skills and performing in the form of task. In fact, progress recognition is the best engagement technique because it helps employees to visualize their work and picture.
Rewarding employees for their work is the best element of engagement. Having a centralized system like SaaS, it will allow employers to check the progress of employees and motivate them further. A reward can also be in the form of raise in the salary packages, gifting them and other prospects.
More and more businesses are implementing a SaaS application that has made the employee engagement process much improved. In fact, there is no slowdown in SaaS adoption. The market is growing rapidly and by 2020 it is expected to grow by $216 billion. With the more and more implementation, millions of employees and companies are set to benefit in terms of engagement and ROI.
Implementing the right SaaS Platform:
When your company has decided to implement the digital SaaS platform, it is important to have a formal check about the quality and overall performance. As an employer, you need to list down the best in the market that can help in creating the engagement and keep going strong. Upon implementing the software you must also train your employees to use it accurately and enjoy the best benefit that comes along.
After the implementation and proper use of the platform, SaaS will help companies to get the ROI that can work for the long term. Without SaaS, the company will be completely different that will be fruitful.
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Xoxoday is a SaaS commerce company with products for employee and channel management.