If you think workplace policies that benefit employees are just a feel-good measure for the employees, think again. Case studies show that reducing employee turnover costs can add up to a significant savings for businesses.

The Center for American Progress outlines the expenses associated with replacing workers, including productivity losses, the costs of hiring and training a new employee, and slowed productivity during the time it takes to get them up to speed in their new position.

On the other hand, workplace policies that help boost employee retention cost little to nothing. By implementing a few changes such as flexible work options and earned sick days, you could save thousands a year. Once you do the math, it makes sense to employ effective employee retention strategies.

According to the Management Study Guide, nothing works better than motivation when it comes to employee satisfaction. Top performers appreciate recognition for their hard work, and this in turn motivates them to work harder.

Are you ready to learn the best ways to boost your company culture and keep your employees happy? We surveyed more than 1,000 workers to provide you with insight on the types of recognition they appreciate most.

A majority of the companies who spent just 1 percent more on employee recognition saw a positive impact on engagement, and while monetary bonuses are still the most valued form of recognition, there are other ways to improve employee morale.

Take a look at the infographic below to gather ideas on how to reward your employees and keep your best people.