Many employers don’t have a real grasp on what it is that motivates their employees and encourages them to stay put, which is why they have a hard time not just attracting employees, but also retaining them.

Here’s a few statistics about the employee mindset, from Gallup, The Incentive Federation, The Incentive Research Foundation, Maritz, and World at Work:

• Only 12% of employees who leave their job do so for more money, while 89% of employers believe money is the primary reason they lose employees.
• 75% of people who leave their position say they’re not leaving their job, but they’re actually leaving their boss.
• When a corporate incentive program is in place at an organization, 66% of employees were motivated to stay at their job.
• 39% of employees say they’re not appreciated at work.
• 77% of surveyed employees said they would work harder if they felt more appreciated for their efforts.
• For organizations with more engaged employees, profits are on average 27% higher and sales are 50% higher.

The key that ties all of these statistics together is the role of engagement in the workplace, and engagement hinges on a feeling of appreciation.

So what if you’re a small business lacking the resources to develop costly corporate incentive programs, or you’re a large company that simply doesn’t have the ability to spend more on expensive incentives?

Fortunately, there are a multitude of low and no-cost ways you can make your employees feel appreciated.

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Get Personal

Many employers are busy and have a minimal amount of time in their day, but they don’t realize how far a conversation can go in terms of making their employees feel appreciated

Just a face-to-face interaction and a chance to speak with your employer can do wonders for morale and let employees know they’re not forgotten, and they’re thought about by their boss on a personal level. It takes a little extra time to have face-to-face interactions with employees on a regular basis, but it can go a long way.

Give the Gift of Time

Let’s say an employee, or a team of employee has just successfully completed a big project and you want to let them know you appreciate the efforts they put in, but you don’t have financial rewards to hand out…why not let them take a few hours off that afternoon?

When you do something extra, even if it’s letting your employee leave an hour early on a Friday, it shows them you care and they’re going to feel more like putting in the extra effort to show they in turn appreciate your gesture.

Add Some Responsibility

You may not even realize how far a little extra responsibility goes, or charging your employee who’s performing well with something that’s more challenging.

When you give employees more responsibility or a significant challenge in their job, they’re likely going to feel like you trust them, and that can be the ultimate indicator of appreciation.

Don’t be afraid to challenge your best employees, as long as it’s also attainable.

Public vs. Private Recognition—Learn Which is Appropriate

Every employee is different, and everyone feels appreciated in different ways. Some employees love the spotlight being on them, and so when you’re showing your appreciation for a job well done, they’re going to want to be in the employee newsletter or on the employee bulletin board.

On the other hand, some employees are more reserved, and a quiet thank you is all they need to feel like they’re valuable to the workplace.

Try to take the time to learn about your employees so you’ll know, more specifically, what’s going to let them know how much you value them.

Make It Meaningful

Don’t heap on the adoration and appreciation if you don’t mean it. Employees will see through the insincerity, and they’ll no longer appreciate your appreciation.

If an employee does a job well, let him or her know, but don’t spend your entire day thanking every employee as you walk through the office.

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