An organization’s employees are its backbone. When employees enjoy being at work, it bleeds into every part of company culture, including your bottom line.

Happy employees are less likely to seek other employment, which means they will stay with you longer. A lower turnover rate means you’ll have to spend less time training new employees, which leads to higher overall productivity.

To cultivate an environment of happy employees who strive to put their best foot forward at work, here are a few tips.

Keep Your Team Informed About Both the Good and the Bad

Transparency is such a buzz word nowadays, but there’s a reason for that. The bad news is sometimes inevitable, but it’s better to be upfront when things turn sideways. In almost every situation, employees can handle it.

By not addressing things in a straightforward manner, leaders risk stimulating the dreaded “rumor mill.” When people are left in the dark, their natural instinct is to fill in the gaps with the little information they have. The rumors are typically worse than the reality of the situation, so it’s best to be honest about the situation and steps being taken to rectify it.

Don’t Micromanage

Chances are, you hired your employees because you saw something promising in them. Trust that your employees are capable of using training and common sense to do their jobs effectively. If you have an open-door policy, they’ll know that they can come to you if things get hectic or if assistance is needed.

Lead with Positivity

If the CEO or anyone in management is consistently negative, that can very quickly dampen employees’ demeanor at work, and possibly their trust in the company. Positivity of an organization’s leaders trickles down from the employees to the customers they deal with.

Ask for Feedback (and Actually Listen)

The biggest mistake a leader can make is assuming they know what their employee’s value and expect. By having an open conversation and accepting feedback, you’ll know what’s most important to your employees. Remember, this shouldn’t be a one-time talk. You should constantly be looking for ways to make your employees more comfortable at work (without breaking the bank).

Show Gratitude for a Job Well Done

A simple “thank you” can go a long way. It makes your employees realize that they are valued and that their hard work doesn’t go unnoticed.

Tangible benefits like salary and perks do make a difference, but not as much as you would think. If a person can pay their bills and live comfortably regardless of where they work, they’ll always choose a company that makes them feel appreciated and empowered. To keep good employees, you’ll want to be that company.