No one needs to tell you why it’s important for employees to be happy at work. When morale is low, engagement suffers — which can do a real number on productivity, work quality, business growth, and retention.

Employee recognition is crucial to retaining top talent. According to a recent survey, 80 percent of employees who have been appreciated by their employers are staying put. If an employee doesn’t feel valued or appreciated, it’s a safe bet that she’s among the throngs of people hunting for their next gig.

While it would be nice to give every employee a cash bonus as a token of appreciation for their hard work, it’s just not practical for most businesses. But even if your budget is tight, you still have lots of options for demonstrating employee appreciation. Discover some new appreciation tactics that will lend a hand to reducing turnover and increasing retention rates at your business.

Monday Morning Motivation
Consider having a 15-minute meeting with your team each Monday morning to nominate a team member who deserves to be recognized. It’s a great way to start of the week on a positive note.

Create a digital space for showing thanks.
Your virtual work and collaboration platforms are a perfect vehicle for giving thanks. For example, if you use Slack, add a ‘gratitude’ or a ‘praise’ channel to express your thanks for employees’ efforts and to celebrate both individual and team successes.

Social Media Appreciation
Leverage your social media accounts as a way to show appreciation for employees. Recognize the hardest working employee of the month. Have all departments nominate a winner and compete for the most unique way to show your appreciation.

Company Swag
Everyone loves t-shirts, cozy sweatshirts and water bottles. And what better way to build your brand and culture than having your best employee represent the company outside of the office?

Just, Thank You.
How many times do you say thank you to your workers when they meet or exceed expectations? If you show your appreciation at work by saying thank you more often, your workers will feel valued and will be more likely to stay loyal. While a firm hand is important for a manager in the workplace, it doesn’t hurt to be polite, humane, and civil. As you show your appreciation at workplace, also remember to say please when more too.

Flexibility
Who doesn’t love flexibility at work? One way you can make your employees happy without actually spending is to offer them a flexible work schedule. Since the pandemic, a lot of employees got comfortable working from home and might miss that flexibility especially if they had to head back to the office. Offering a hybrid work week schedule, or working with your employee to see what works best for them is a great way to show your appreciation.

Ultimately, your employees really want to know you value and appreciate them – and it’s okay if you can’t demonstrate this financially. A thoughtful gesture doesn’t have to cost anything. At the end of the day, when it comes to showing gratitude and appreciation, what really matters is that you truly care about your employees happiness.