Peer recognition is one of the major aspects of keeping any workforce motivated and sharp. It is essentially the cornerstone for an employee’s job satisfaction levels along with their annual pay and benefits. It certainly can be said that while the latter services their wallets and daily needs, the former is responsible for ensuring that they are constantly emotionally engaged, instilling a sense of loyalty and pride in the workforce. Often giving employees a purpose to work harder and achieve more.
In an increasingly digitally connected world, primarily due to the domino effect of the pandemic, there is an enhanced need for peer recognition. Employees of almost every major organization are miles apart from their colleagues and are interacting over digital platforms. This completely eliminates the personal touch and in-person connection that peers normally shared otherwise. This does bring about the need for a Team Collaboration Software to uplift peers and at the same time give the HR and management teams the contribution of employees, levels of their engagement with peers, and much more.
PeerFives is the undisputed one-stop solution for companies to create the most conducive atmosphere for employees to work shoulder to shoulder even when they are miles apart, infusing fresh enthusiasm in every task at hand. More details about PeerFives is given in the sections below, so keep perusing to know more.
What is PeerFives and What Does It Do?
PeerFives is a team collaboration software that is currently available on the Slack platform. It assists the management to establish a cohesive bond between its employees while gaining some insight into each employee’s team working spirit and overall performance.
PeerFives has a rewarding system that is used by the employees to publicly reward their peers in exchange for certain help or service that they may have received from their peers. This primarily is a token of appreciation, however, here the token of appreciation holds some monetary value which the recipient can cash in at a later stage.
The rewarding system is based on points and every user rewards his peers with a certain amount of points that are allotted to them by the organization on a monthly basis. PeerFives essentially works its way to becoming the backbone of the collaborative spirit of the workforce.
How To Use PeerFives?
Now that everyone is familiar with PeerFives, it is time to understand how PeerFives actually works, and how every individual using it must try and make the most of it!
PeerFives is all about recognizing peers and appreciating the good work done by them publicly instantaneously. The PeerFives integration on Slack shall show up in the “Apps” section. Once the organization is done with the onboarding process, the employees shall have access to a wide range of features provided by PeerFives.
Beginning from a fixed number of points being allotted on a monthly basis to each user only to give away and recognize great work or gestures by his/her peers to multiple functionalities in the dashboard where all activity is visible and users get to compete with one another for the most PeerFives points via a leaderboard visible to all users. A set of commands allows users to see their PeerFives points balance, activity, and access to a help section as well.
While thanking a peer, a thank you message can also be shared to let everyone in the organization know the exact reason behind the points being awarded. This serves as a motivating factor for each and every employee to do well. At the same time, heads of the organization and management teams can track the awarding of points to know how well certain employees are bonding and how well the organization’s core values and culture is being upheld. The dedicated dashboard gives in-depth analysis and each peer can be tracked.
The points have a fixed monetary value and each employee can redeem them in exchange for a variety of rewards. These rewards are usually gift cards of leading brands in different markets across the globe. Some of the most popular brands and their in-demand products often serve to be a great motivation for employees to earn these points.
The Do’s and The Don’ts
PeerFives is undoubtedly the single-most positively impacting software for any organization. However, depending upon the way in which it is used, there are bound to be certain do’s and don’ts, though the latter is a few in comparison to the former, they are listed below:
- Regular Points Rewarding:
Rewarding points to peers regularly using PeerFives is one of the main objectives of the software. Using a team collaboration platform such as Slack, individuals in an organization can reward peers at regular intervals and let everyone know the reason behind it as well. This ensures that peer recognition is no longer the old school appraisal system which is done only once a year, rather it is a continuously motivating process by colleagues as well as higher-ups.
- Specific Recognition:
While recognition of peers is extremely important, it is necessary to give a brief but well-written message to help everyone understand the motive behind awarding points. Because it isn’t just the points or their monetary value that is the driving force behind the handwork of the receiver, it is also the innate satisfaction of receiving fame and attention.
- Team Recognitions:
Often in an organization, it isn’t just one individual behind the success of a major event, there are multiple individuals working as a team doing their bit to ensure success behind the scenes. Hence, using PeerFives, it is essential that individuals award points not only to one person but an entire team whenever needed.
- Rewarding Only Based On Performance:
There is a common misconception that points should be avoided only when good work is done and results are achieved successfully. However, individuals can reward their peers in an organization even when they show tremendous effort for a majorly successful project. Also, humanitarian gestures and traits such as honesty, punctuality, and dependability are worth rewarding.
- Fake Compliments:
Peer recognition needs to be as genuine as possible, hence avoid being fake and very hollow when it comes to complimenting your peers. Be as genuine as possible, use PeerFives to wholeheartedly award points, and celebrate a positive team environment.
- Using your PeerFives Points Judiciously:
Each month you are allotted a fixed number of points to reward your peers. While rewarding peers for outstanding work instantaneously is essential, there is also the need to plan out the number of points you wish to reward, preferably keeping it proportional to the importance of the work done by your peers.
PeerFives is essentially your one-stop destination for all team-building activities on Slack; using this positively shall help instill a sense of pride, confidence, and devotion in the employees of any organization. Hence, to avoid missing out on the benefits of PeerFives, contact our onboarding team now to know more!