Key Statistics and Year-End Highlights for Inspirus Employee Engagement Software

Disengagement. Burnout. Stress. These are buzzwords that have defined the workplace in 2024. 

Gallup reports that 67% of employees in the U.S. and Canada are disengaged, while Aflac reveals 57% face burnout and 75% struggle with stress. This data paints a clear picture: employees are burdened with unprecedented levels of dissatisfaction, and workplaces are feeling the strain.

In response, many organizations are turning to employee engagement software, like Inspirus Connects, to address this rise in disengagement and burnout. These platforms can help foster connection, recognize achievements, and collect actionable feedback, creating pathways for organizations to rebuild engagement and support employee well-being.

This article explores key 2024 employee engagement statistics and showcases how Inspirus Connects, a leading employee engagement and recognition platform, empowers organizations to overcome HR challenges and achieve impactful results.

Overview of Employee Engagement Software Usage in 2024

Global Adoption Rates

Employee engagement software is experiencing a surge in adoption globally as businesses recognize its value in improving connection, employee satisfaction, and productivity. According to Grand View Research, the global market for employee engagement software was valued at $928.3 million in 2023 and is projected to grow at a CAGR of 16.4% from 2024 to 2030. This forecasted growth is driven by organizations striving to overcome key challenges such as remote work, employee retention, and workplace engagement.

Industry Breakdown

The Banking, Financial Services, and Insurance (BFSI) sector holds the largest market share, driven by the need to manage large, distributed workforces while adhering to compliance standards and maintaining security and performance. Organizations within the BFSI sector require employee engagement software to streamline communication, automate feedback, and ensure seamless collaboration across geographically dispersed teams.

The IT and telecom sector is also at the forefront of adoption, with an anticipated CAGR of over 17%. This growth reflects the industry's need for agility, innovation, and employee retention in a fast-paced, technology-driven environment. These organizations rely on employee engagement software to maintain a motivated workforce, foster collaboration, and address turnover challenges inherent to the sector.

Company Size Breakdown

Large enterprises dominate the market, accounting for the largest share of adoption. These organizations, often managing thousands of employees across multiple locations, require advanced solutions to maintain consistent communication, support collaboration, and measure engagement at scale. Employee engagement platforms equip large enterprises with the tools to manage extensive datasets, automate processes like feedback collection, and generate actionable insights for decision-making.

Meanwhile, the small and medium-sized enterprise (SME) segment is expected to expand at a CAGR of over 17% during the forecast period. SMEs are increasingly adopting cost-effective engagement tools to enhance employee satisfaction and retention while avoiding the complexity of enterprise-grade systems. These platforms enable SMEs to build strong organizational cultures by promoting open communication, recognition, and feedback in a streamlined, scalable way.

Impact of Employee Engagement Software on Organizational Performance

Engaged employees aren’t just happier — they also deliver results. When employees feel connected and valued, they’re more motivated to perform at their best, which drives positive business outcomes across the board.

Research validates this, too. According to Gallup’s 2024 State of the Global Workplace Report, highly engaged teams experience a 68% boost in employee well-being, a 78% reduction in absenteeism, and a 22% increase in organizational citizenship — all critical metrics that directly impact productivity.

Employee engagement software can help organizations achieve these outcomes by equipping them with tools to tackle workplace challenges and build a culture where everyone thrives.

Here's a closer look at how Inspirus' employee engagement and recognition platform, Inspirus Connects, can influence organizational performance and more:

Productivity and Performance Improvements

Employee engagement software has proven to be a game-changer for improving productivity and organizational performance. In today’s workplace, where challenges like disengagement and burnout are on the rise, the impact of low engagement cannot be overlooked. Research from McKinsey reports that disengagement is costing mid-sized S&P 500 companies up to $355 million annually.

This is where Inspirus' employee engagement and recognition platform, Connects, makes an impact. Inspirus Connects combines recognition and employee feedback to help organizations strengthen connections, amplify recognition, and provide meaningful support to employees — building a more engaged and connected workplace in the process.

Take White Castle as an example. To boost quality scores and engagement levels, White Castle introduced a strategic recognition program that awards points to employees based on their performance using Inspirus Connects. This initiative led to an impressive 78% increase in employee engagement and a perfect 100% quality score.

By implementing a robust employee engagement software like Inspirus Connects, organizations can address pressing workplace challenges, reduce costly disengagement, and create an environment where employees feel valued, supported, and motivated to excel.

Employee Retention Rates

Turnover is one of the most pressing challenges for organizations today. In fact, Gallup reports that 51% of U.S. employees are actively seeking new opportunities in 2024, a sharp increase from 44% in 2020.

The problem is, turnover comes with steep costs, ranging from one-half to two times an employee’s annual salary, according to Gallup. For many organizations, this makes improving retention not just a matter of workforce stability but also a critical financial priority.

Fortunately, employee engagement software can help — and Inspirus' employee engagement and recognition platform provides an effective solution. With Inspirus Connects, organizations can create work environments where employees feel appreciated, supported, and connected through tailored recognition programs and robust employee surveys.

Strengthen Employee Loyalty Through Recognition

Inspirus Connects enables organizations to celebrate the moments that matter throughout the employee journey, empowering teams to easily give recognition — both monetary and non-monetary — and fostering a culture of appreciation.

Give Your Employees a Voice Through Employee Surveys

In partnership with The Happiness Index, robust employee surveys and analytics provide real-time insights into workforce needs, enabling organizations to address challenges proactively and ensure their employees feel heard, valued, and motivated to stay.

By encouraging peer-to-peer recognition, recognizing contributions, and gathering actionable feedback through robust surveys, you can cultivate a workplace where employees feel genuinely satisfied and valued.

Employee Satisfaction and Morale

Recent studies reveal a concerning trend: employee satisfaction has steadily declined in recent years. According to BambooHR, the average employee net promoter score (eNPS) dropped from 44 in 2020 to 35 in 2024, while overall satisfaction fell by 6% between 2020 and 2023. Likewise, research from Gallup paints an equally stark picture, reporting that only 24% of employees feel their organization cares about their well-being, a sharp drop from 49% in 2020.

This decline in satisfaction highlights a growing disconnect between employees and their organizations. Inspirus' Connects can help alleviate these concerns through powerful employee surveys and recognition capabilities. 

Here are a few ways we can help:

• Gain real-time insights into employee sentiment with pulse surveys: Inspirus Connects offers a 24/7 anonymous pulse survey, Employee Voice, directly embedded into your platform. With this pulse survey, you can gather anonymous, actionable data to understand how your employees think and feel in the moment.
• Conduct recurring engagement surveys to uncover actionable insights: Inspirus has partnered with The Happiness Index to offer a robust employee experience management platform. With it, you can conduct unlimited employee surveys to track employee satisfaction and engagement over time, address emerging concerns, and use valuable data to shape your HR strategies.
• Foster a sense of belonging and strengthen connections through recognition: Inspirus Connects employee recognition platform empowers you strengthen employee connections through the power of peer-to-peer recognition, no matter your employees' location. With an intuitive interface, employees can easily recognize their colleagues, celebrate milestones and achievements, and more.

By incorporating these key features of Inspirus' employee engagement software, organizations can counteract declining satisfaction and create a positive, thriving workplace culture.

Popular Features and Modules

With Inspirus Connects, organizations have access to a powerful platform that transforms employee engagement and recognition. From meaningful rewards to actionable data insights and seamless integrations, these features ensure every recognition moment and piece of feedback count. 

Explore some of the key tools that make Inspirus Connects a leader in employee engagement:

#1 Personalized Recognition Experiences

Enhance Recognition with a Meaningful Gift of Choice

Empower employees with the flexibility to choose rewards that truly matter to them. Inspirus Connects offers a vast selection of rewards, including gift cards, merchandise, charitable giving, and more. With access to over 2,500 popular brands like Amazon, Apple, and Chipotle, employees can select rewards that align with their unique preferences, making their recognition experience more meaningful.

Recognize Across the Globe with Inspirus' Global Reward Marketplace

Recognizing employees on a global scale is seamless with Inspirus Connects. Supporting 185 countries and 33+ languages, our platform ensures timely reward delivery through in-country fulfillment and provides personalized recognition experiences that align with individual preferences, making every recognition experience meaningful and memorable.

#2 Employee Engagement Surveys

Gather Valuable Data with an Unlimited Suite of Employee Surveys

Get real-time insight into your people with an unlimited suite of employee engagement surveys. In partnership with The Happiness Index, access 20+ neuroscience-based pre-built surveys to measure how your people think, feel, and behave across the full employee experience. Empower your employees to give feedback how, when and where they want on key topics.

Understand Employee Sentiment with a Pulse Survey

Stay connected to how your employees think and feel with Inspirus Connects' Employee Voice pulse survey. This 24/7 anonymous survey tool delivers real-time insights into workforce sentiment, enabling organizations to monitor engagement levels and quickly adapt strategies to meet employee needs.

#3 Seamless Integrations and Ease of Use

Seamless HRIS Integration Through an Open API

Streamline your data management effortlessly with Inspirus Connects’ open API. This feature provides a seamless integration with most HRIS systems, enabling you to easily transfer data between platforms, reduce manual effort, and maintain accurate, up-to-date information across your tools.

Send Recognition within the Tools You Use Everyday

Make recognition a part of everyday communication with Inspirus Connects’ Slack and Teams integrations. Employees can effortlessly celebrate achievements, milestones, and more with an intuitive peer-to-peer recognition tool, ensuring recognition remains frequent, meaningful, and naturally embedded in the tools your workforce relies on every day.

Mobile-Friendly Solution

Whether your employees work remotely, on-site, or in the field, Inspirus Connects ensures recognition reaches everyone. With a mobile-friendly platform, we ensure recognition is accessible to both online and offline workers, helping organizations strengthen community and foster a connected workforce.

Trends in Employee Engagement Software in 2024

As organizations continue to adapt to workforce changes, new trends in employee engagement software have emerged, reflecting the evolving priorities of businesses and employees alike. Here's what you need to know about the latest employee engagement software trends:

Personalized Engagement Solutions

Modern employee engagement platforms are embracing personalization to transform how companies connect with their workforce. By moving beyond one-size-fits-all approaches, organizations are leveraging data-driven insights to craft experiences that align with individual employee preferences and needs. Examples include tailored recognition programs, like Inspirus Connects, that celebrate employees in meaningful ways, personalized rewards that align with personal interests, and action plans derived from employee feedback.

AI and Automation

In recent years, employee engagement software has started to embrace AI. This new functionality helps create more personalized experiences tailored to employees’ unique needs. Predictive analytics also allow HR teams to understand employees' happiness and engagement levels and proactively address issues, enhancing efficiency and employee satisfaction at scale.

Employee Feedback Tools

Employee feedback surveys, such as pulse and engagement surveys, are invaluable tools for HR leaders to understand employee sentiment, especially in the era of hybrid work. These surveys empower employees to voice concerns, suggest improvements, and share their perspectives without fear of judgment. With advanced analytics integrated into engagement software, HR teams can swiftly analyze survey results, uncover trends, and implement actionable changes that address workforce needs.

Integrating for a Seamless Experience

Research by Josh Bersin reveals that the average large company uses over 80 HR tools, with many global organizations managing twice that number. That's not a small number! With data spread across so many systems, gaining a holistic view of employee information can be challenging. This is why seamless data integration between your employee engagement software and other systems, such as an HRIS, is essential.

For example, Inspirus Connects utilizes an open API to easily integrate with HRIS systems. Likewise, our platform integrates with Slack and Teams to ensure recognition can be sent with the tools employees use every day.

ROI of Employee Engagement Software in 2024

Investing in employee engagement software has proven to produce substantial returns for organizations in 2024. When organizations have the right tools on hand, they can boost engagement, retention, satisfaction, and more, which all fuel an organization’s success.

Recent research validates this, too. Gallup’s 2024 State of the Global Workplace Report showcases how impactful engaged employees are — demonstrating the strong connection between employee engagement and positive business outcomes. According to their research, organizations with highly engaged employees experience the following:

These statistics indicate that high employee engagement levels not only boosts financial performance but also enhances operational efficiency, safety, and overall employee well-being.

Real-Life Success Stories

Not convinced yet? Real-world examples can further illustrate the tangible ROI of implementing engagement software. Here are some notable examples from Inspirus' customers:

• White Castle: By implementing their incentives-based R.O.C.K. (Royal Order of Crave Keepers) the Castle Games program, White Castle was able to achieve a 78% increase in employee engagement.
• ATCC: Faced with a turnover rate higher than the industry average, ATCC turned to Inspirus's platform to address the issue. Within just one year, they improved retention rates by 10%, significantly reducing the costs associated with recruitment and training.
• Insurance, Banking, and Investment Service Provider: This organization experienced a 51% increase in the average number of recognitions per employee after adopting Inspirus's engagement and recognition platform. 

These success stories demonstrate that investing in employee engagement software like Inspirus's platform can lead to substantial ROI. Organizations can benefit from these tools with improved productivity, higher profitability, reduced turnover, and a more engaged and satisfied workforce.

Employee Engagement Software Strategies for 2025

Reflecting on 2024, it’s evident that employee engagement software is vital for addressing workforce challenges. With engaged employees leading to 23% increases in profitability and 17% boosts in productivity, these tools have proven their value. Adoption across industries has highlighted their flexibility, from fueling connection across large, dispersed teams to helping SMEs build strong workplace cultures.

In 2025, these platforms will remain crucial for navigating hybrid work, rising burnout, fueling performance, and evolving workforce needs. Features like integrated peer-to-peer recognition and engagement surveys will empower organizations to enhance retention, well-being, and productivity.

Now is the time for companies to review their engagement strategies and consider investing in modern employee engagement software.

Interested in learning more about Inspirus Connects and employee engagement software? Connect with an Inspirus specialist today to see how we can help you boost engagement, improve retention, and more with Inspirus Connects.