The end of yet another year is drawing near, and this presents the perfect opportunity for business owners to show their appreciation to their employees.  Customers may be the main focus, but the employees should never be neglected.  Numerous studies have found that happy employees are more productive, and therefore have a positive impact on a company’s bottom line. Sure, compensation plays a part in the happiness of workers, but money alone doesn’t lead to increased morale.  There are many ways to show your workers that you value them not only as assets, but as people as well.

The most common method is with the traditional end-of-year bonus, but as is the case with many small businesses, finding affordable workers is difficult enough.  Particularly in tough economic times, or in cyclical industries paying out nice sized bonuses at the end of the year isn’t always an option.  However, you can still let your employees know that they are valued and increase morale without spending much money, while possibly even saving money. 

Give the gift of time

Especially in instances where employees have families, time may be even more valuable than money at this time of year.  With relatives visiting, younger children home from school, or older children returning home briefly from college, affording employees a day or two off to spend quality time with family is a simple gift to give.  By removing the constraints of the workday, plus the travel time and stress, you would be giving your employees quality time with their loved ones, not just a  few free moments after a long day while preparing for the next one. Plus, this can allow employees to recharge and return fresh in the new year. 

If you happen to run a business that has a lull in activity this time of the year, you may even wish to consider closing down for a couple of days, and save on the overhead costs of running the business when money is less likely to be coming in.  Additionally, by briefly shutting down, you as the business owner give yourself the chance to take a step back for a moment and recharge your own batteries and return with renewed vigor and enthusiasm for the new year. 

It’s rare that people working full time ever complain about having too much time, so they will not only be appreciative, but also feel valued. Nobody likes to feel unappreciated, and talk is just that, talk, so take this time to show your employees that their efforts over the past eleven-plus months (or more) didn’t go unnoticed.

This article, A Little Goes A Long Way With Employees was originally published by DollarVersity, and may have been used without the owner's permission.