Many small businesses struggle to attract and retain good employees, and often feel ‘out-gunned’ by bigger employers because they cannot offer the high salaries and perks that they believe employees demand.

But did you know that most employees actually rate recognition more highly than financial reward? Once the basic financial needs are met people want more than anything to feel good about the work they do.

They want to know that they are making a difference. They want recognition that their work is important, and how it influences the final outcome of the business. This principle of recognition applies to all employees from the entry-level cleaner or labourer all the way up to the top executive manager.

Everyone wants to love coming to work and to feel good about their contribution. Genuine praise really is more precious than gold, and it is so easy to do, especially in a small business where you have contact with your staff. Praise can take the form of acknowledging your staff’s input; from the clean floors, to the grammar-perfect report, from the sales results or the way a junior staff member answers the phone.

Praise is free – yet the resulting feeling of being appreciated is priceless.

So, even if you pay top rates, it’s important to know that your staff might still leave you unless they feel valued and respected. The sparkle of a high salary soon fades if it is accompanied by disrespect and disregard.

Why not start today by acknowledging just one member of your team? Tomorrow affirm somebody else. Keep that up for the week and see the positive effects in your team. You might just find yourself feeling a whole lot better about the work that YOU do too!