What is a good way for me to show appreciation to my direct reports? I'm wanting to increase employee morale.

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My boss is fantastic at this.

He gives genuine praise, shows real interest in my mental well being (if I seem off or sick, he'll suggest I take the day off), always pitches in to help when I'm stuck, encourages PTO, and gives random days off to enjoy the weather. He advocates heavily for our team, and we've seen promotions and significant raises.

One of team's latest additions used to work with him. She said he was the best boss she ever had, so it was a no-brainer to apply to another company he worked at.

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The best thing you can do is consistently praise good work and achievements, keep any criticism constructive and positive, don't play favorites, support your staff when they are in conflicts with customers or other departments. These actions show your appreciation more than a Starbucks gift card or Employee of the Month award. Showing appreciation with "things" is tricky. If you start an employee of the month recognition, it will probably be fine until someone gets selected a second time before everyone else "had a turn." If you avoid that situation, it isn't so much a recognition of achievement as it is handing out gift cards to the staff over a several month period.

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Do you have any kind of budget to show appreciation? If the answer is no, then you're kind of limited in what you can do to boost their morale. In some cases, it might even be detrimental to do something underwhelming

Money

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Give them time and/or money. Money is the easy one. Covering for them so that they have free time without using up their PTO or are stressed that a project is not getting done might have a bigger impact.

I took my entire team out to dinner at a really nice place and it was one of the best investments. I don’t know what it is about feeding people I guess like my mom used to say when you feed people you feed their souls along with their bellies.

Treat them like equals and ask for their feedback. Giving your time and attention goes a loooooooog way!

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