From my friend Rhoda Kreuzer at Partners in Action, Inc.

 Consider the gift your team gives to you every single day. They show up and contribute their talents and abilities. They do not have to work for you. They could work for someone else and perhaps even be paid more.

So why do they stay? Studies show it is not for the money but rather because of their relationships made with the team, and for the opportunity to grow and learn. Every person wants to know that they are important to you and the team, that they are making a difference. This is so simple that we often overlook it and instead throw money and benefits at retention. Yes, everyone loves a pay increase or additional benefits, but those are not the only reasons why they stay.

When was the last time you recognized or praised your team? Studies show that our team members need to hear feedback every seven days. Many leaders feel like that is too much to accomplish but think of the alternative. If they are not listening to your voice, they will turn to others for input, concluding that you do not care.

You can put out fires or you can prevent them. Your team members are truly your greatest asset. Demonstrate your gratitude for their accomplishments by providing positive and genuine feedback on a regular basis. They will reward you with strong performance and engagement. In short, they will become the team that exceeds your expectations and the team with whom you love to work with.