Keeping your employees happy is a challenge in today’s economy. Happy employees are more creative and productive. They’re also less likely to quit. While more money is always a good thing, its not always an option. Check out these tips for keeping your staff satisfied and productive when a raise isn’t possible.

1. Never Underestimate a ‘Thank You.’ A simple thank you goes a long way in reassuring employees their efforts have not gone unnoticed. Recognizing each individual’s contributions lets them know they are appreciated.

2. Connect with your People. If you want your co-workers to be satisfied and productive, take an interest with who they really are as people! Bosses who take an interest in who employees are and care about them as individuals create a culture that encourages teamwork and respect for each other’s opinions/ideas. Take a few moments each day to connect with each person.

3. Keep it Light! Have you ever noticed how employees who work in an environment where people can joke around occasionally with each other tend to be much more engaged at their job? By encouraging a relaxed work environment you allow people to feel more comfortable, which fosters a work culture focused on creativity and productivity. A sense of humor can act like an energy tonic for your company!

4. Fun Fridays aren’t just for Kids. Once a month (or once per week) host a ‘Fun Friday.’ This can be anything from relaxing the dress code, playing music, and bringing in staff’s favorite treats or ice cream, to buying lunch or going for happy hour at the end of the day.

5. Encourage Work-Life Balance. It’s common for employees to feel like they’re always working and can never disconnect, which makes them stressed out! Helping your employees prioritize their work-life balance can make them feel more energized and less stressed. The key is to create a culture where people are encouraged to take the time to attend to their family and personal obligations, not pressured into staying late hours at the office or taking on additional projects. They should feel completely comfortable asking for time off, for whatever reason.

6. Be Flexible. With the technology that exists in this day and age, there is no need for anyone to be tied to an office space or cubicle 24/7. Offer more flexibility to your employees. Some options include flexible work schedules, flexible work hours, and flexible work locations. Embracing and adopting this type of flexibility encourages productivity and fosters a greater sense of commitment between employee and employer.

7. Get Creative with Benefits. A benefit package can be more than just money; it’s an opportunity to show you are attentive to the needs of your employees. Technology allowance for cel phones or tablets, gym memberships, spa treatment certificates, extra vacation days, and gas gift cards are a few ways you can compensate staff when a raise or bonus isn’t possible. When you tailor these benefits to the needs of your employees it demonstrates that you are paying attention; that you are aware and mindful of their well-being…and that is more valuable than the benefit itself.