The answer is… it depends
How serious are you about recognition?
If you agree with the research conducted by Bersin that companies with a strong recognition culture have 31% less voluntary turnover or you’ve had some clear indication from your staff that recognition needs to be addressed, then don’t tinker with it. Find a tool which provides instant recognition but can also show real-time reporting on who’s getting recognised for what. Particularly one that can alert management to real-time recognition on their phones so that they can pass on their thanks in a timely manner.
Do you have time/resource to manage reward separately from recognition?
If you want a tool that allows peers to recognise each other and take care of any associated reward then go for a purpose-built recognition tool. Saying well done to someone on a social or collaboration platform is great (it really is) however if you can’t pull off a report in order to manage reward for that individual or have to run separate schemes such as Employee of the Month, you’re doubling up your workload.
What do you want to drive?
If you’re looking for organic recognition which ebbs and flows, an add-on feature to a tool you already have will do the job. If however, you’re looking for recognition to embed your company values or recognise tenure milestones such as passing probation, new joiners or 5 years with the company. Then you will need a tool dedicated to driving colleague engagement through recognition.
To save you some time we’ve knocked up a quick comparison chart.