- Technological advancement has led to a significant change in the way various organisational aspects are managed.
- Managing and ensuring employees are engaged and recognised from time to time might be a tricky thing to do, and significant number of managers/organisations lack adequate tools to do so.
- REFFIND Limited offers a simple, fun, and easy-to-use solution for managing employee recognition and engagement in small as well as large organisations.
- RFN believes that significant opportunities await WooBoard, as organisations are increasing emphasis on working from remote locations.
“Great organisations are built by great people”
Attracting and hiring the top talent is said to be one of the most imperative aspects of the organisational management. This might sound really simple. However, the scenario of hiring and retaining employees has changed from top to bottom. Moreover, building organisations require something more than just hiring and retaining great people.
There are various elements like employee engagement, recognition, and culture of the organisation that need to work in coincidently to make organisations run successfully.
But how do we do this?
The process to build a great organisation begins with the placement of exceptional people in suitable jobs. Not to forget, hiring and placing the right people for the right job is the basic to run an organisation. This is integral to spark commitment among the employees towards their work and organisation, and smash through objectives, both personal as well as organisational.
Moreover, it is said that organisations that are less engaging for their employees are less likely to attract people who demand highly professional workplace with an engaging environment.
With the introduction of technology and the expanding scope of automation in business, the game of managing people in the organisation is changing at a very high speed.
Let’s dig deeper into the changing landscape of employee management.
Changing Scenario of Employee Management
The famous quote by Socrates, “The secret of change is to focus all of your energy, not on fighting the old, but on building the new”, may be best suited to represent the current need of organisations to square up employee management in the globally changing scenario.
Organisations that deny or defer to adapt to the changes in the rapidly changing internal as well as external environment are believed to significantly lag in the highly competitive market.
Technology-enabled solutions like cloud computing, Software as a Service (SaaS) and Cloud-based SaaS solutions facilitate in making organisational structure more streamlined and managing employees easier.
Employee engagement and recognition is the key that opens the door to successfully running an organisation. Modern-day organisations are dominated by a workforce aged between 18 and 35 years that is inclined towards fun and simple solutions that help to build a positive and enjoyable team environment.
Breakthrough Solution for Employee Recognition and Engagement, WooBoard
A breakthrough technological development that can help organisations to up their game in employee recognition and engagement is WooBoard.
Being a simple peer recognition platform for employee engagement, WooBoard is a fun and lightweight solution developed by REFFIND Limited (ASX:RFN) that helps to create a positive culture of recognition at the workplace.
REFFIND is engaged in revolutionising the ways of developing, rewarding and managing customer loyalty and employee incentives by making use of the latest technological innovations and solutions.
Through WooBoard, REFFIND offers to connect the ends of the gap created by lack of employee recognition tools and techniques in an organisation.
Need for WooBoard
Employee engagement is rated amongst the top motivators for employee performance, more importantly, above all other financial and non-financial incentives. Therefore, lack of employee engagement might as well result in less motivation to work and can add to the cost of doing business.
Although a majority of managers and experts believe that a good employee recognition strategy shall significantly contribute to improved business success, yet a large number of organisations and managers lack suitable tools for recognition.
Being an innovative solution developed for the contemporary workforce, WooBoard is characterised by the following:
Source: RFN Website
Employee recognition assists in keeping employees happy, develop a stronger emotional commitment to their job, and share greater intent to put in extra efforts to accomplish business success. WooBoard offers a solution that is fun, simple, and easy to use for managing complex and tricky things like employee recognition and engagement.
Optimism Surrounding WooBoard
RFN believes that WooBoard has tremendous potential and has plans to expand WooBoard across Australia as well as New Zealand.
In addition to this, RFN believes that in coming times, the need for organisations to reward and recognise the achievements of their employees working from home would be a critical motivation tool assisting employee’s mental wellbeing and productivity.
Moreover, the Company is placing increased emphasis on customising WooBoard to draw significant benefits from employees and large teams working from home in the current environment.
RFN is optimistic that its WooBoard platform is suitably positioned to seize on increased demand for motivation software and has already long-standing clients such as MetLife Insurance.
RFN stock was trading at $0.002 on 16 July 2020 (AEST 03:40 PM). The stock has delivered 33.33% in returns to its shareholders in the last three months.