October 19, 2012
Employee recognition is an important aspect of management. Often, proper recognition can directly impact business results—it’s been shown to increase employee productivity, engagement, client retention, and company profits. Still, many employees aren’t satisfied with the amount of recognition they receive at work, and some companies don’t even have recognition programs in place.
Enter MeritShare, a startup that’s not only hoping to improve employee recognition, but also to incentivize participation by making that recognition public. The social platform allows companies to publish and distribute awards on the Web or via mobile devices. Often, employee recognition happens behind closed doors or in one-on-one meetings. MeritShare hopes to open up the conversation about good employee behavior by providing rewards that are made public to colleagues and coworkers.
“The reason we enjoy working on this is that we are creating a win for both the company and their employees,” says Kevin Nakao, co-founder of MeritShare. “At work, people want more than a paycheck; they want to be recognized and appreciated for their contributions and results. A more engaged and committed workforce helps companies deliver on their mission and increase the probability of success.”
The startup, founded in July 2012, contends that recognition loses meaning if it’s done in a way that remains private. Traditional recognition models mean co-workers, friends, family, and networking contacts have no way of knowing if someone is truly going above and beyond at work. MeritShare serves to provide validation of recognition and rewards—it even integrates with social media platforms to amplify the effect. The site pools awards from various companies, peers, and organizations, so users can create a comprehensive profile for future employers to view their accomplishments.
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