It's often easy to be consumed by the everyday tasks that come with running a company. However, do you take time to appreciate your employees? According to Gallup, 51% of employees are looking for a new job. Gallup also states that the primary reason employees leave their job is lack of recognition. If you want to keep turnover low and good employees around, it's time to step it up when it comes to employee appreciation. Often, bonuses and gifts aren't necessarily the "recognition" people want. Yes, it's certainly nice to receive a monetary pat on the back, but your employees ultimately just want some form of recognition for their hard work. Here are 5 ways to make employees feel appreciated without breaking the bank.

1. Communicate

Communication is key. While communication holds a lot of power over the success or demise of a company, it's often overlooked. So, what can you do to boost an employee's morale without breaking the bank? It's simple – be appropriately transparent. This increases the likelihood of an employee feeling valued and as if they are an important part of the organization. Keeping unnecessary secrets and making employees feel like pawns is the quickest way to lower work ethic and set employees on the path towards looking for a new job.

2. Offer tailored benefits when possible

On first glance, this may seem like an expensive and daunting task, but this is easy to do just by getting to know your employees. Do they enjoy snacks throughout the day? Do they like to work with highlighters? Are they avid users of sticky notes? Providing small items or accommodations that will ultimately improve the productivity of your employees is always a good idea – and it usually doesn't take a huge hit to the bank.

3. Show you care for your employees as people

Everyone has lengthy to-do lists, deadlines, and fast-moving schedules. You may feel like you don't have time to talk to your employees at a personal level but making extra time for this is well worth it. You develop a deeper relationship with your employees while making them feel seen as a human and not a workhorse. Once again, employees shouldn't be treated as pawns that work for your benefit, but rather real people that have lives outside of their work. Talk to them about their hobbies, families, or other appropriate personal matters. This will make them feel valued in the workplace.

4. Offer opportunities for employees to express their ideas

Your perspective may not always be the most accurate, so allow room for your employees to express their ideas. Whether it be ways to improve the workplace or listening to their ideas regarding a client or product - fostering creativity and giving your employees a voice will often help them feel a sense of belonging and trust. If they feel that they are an important member of the team, they will more than likely be more willing to go above and beyond.

5. Say "Thank you"

This one may be seemingly insignificant to you, but it will encourage your employees more than you know. Most everyone at some point in their lives has said something to the effect of, "A 'thank you' would be nice." You may have thought this for a silly reason, but it truly does help people want to go the extra mile. A simple "Thank you for your good work. I really appreciate what you do." will go a long way – and doesn't take more than a few seconds to accomplish.

What are you waiting for?

It's a competitive market for both employees and employers – so when you find good employees, be sure to make them want to stay. It will benefit your business as a whole and you are likely to have overall less turnaround. It's a win-win for everyone.

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