Your employees are far more likely to stay with your company if they feel their efforts and contributions are valued and appreciated. Praising your employees for stellar work is vital to maintaining morale and boosting productivity in your small business.

Offering a simple "thank you" may have more impact on people than you realize. In a Robert Half survey, employees cited frequent recognition of accomplishments as the most effective nonmonetary motivator. Following are some ways to show high-performing team members that you value their dedication and hard work:

• Say it like you mean it. There is no substitute for inspiring employees on a regular basis by offering your gratitude for their efforts. But don't give praise just for the sake of giving praise. Your attempts to motivate will backfire if an employee doesn't consider your words heartfelt.
• Publicize achievements. Spread the word about noteworthy individual and team accomplishments during meetings or in e-mails to your entire company.
• Explain the bigger picture. People tend to work harder when they know that their work matters. To help your staff feel more personally invested in the success of the organization, share information about the business and how standout efforts contribute to the company's bottom line and overall goals.