Money matters. But it’s not the only incentive that drives employees to work at peak efficiency. For some, a sense of self-worth, job security, a voice in decision-making processes and recognition for a job well done can be almost as impactful in motivating them to perform job responsibilities with great success.

Take the example of Third Federal Savings and Loan. A recent newspaper article touted how the lending institution was ranked as the number one employer in the large business category in a recent “Top Workplaces” survey among Cleveland-area companies.

The main reason, according to the article, was a corporate culture “that’s so warm and fuzzy that it sounds like a fairy tale.” Coupled with a mission statement with “love” and “fun” as core values.

Sound hokey? Maybe, but the company boasts an average employee tenure of more than 11 years, with 66 workers having at last 25 years’ service.

The family atmosphere is cultivated in several ways, including showering employees with extras, everything from flex time to bonuses for employees who lose weight, exercise or quit smoking.

The CEO, who seems to know all 800 local employees’ names when visiting its various branch offices, was quoted in the article as saying that he wants employees to have a balance between home and work. Top management also treats everyone like equals. The result: a great sense of pride and commitment from employees who truly enjoy going to work.

Whether you typically think about your company’s culture and employee incentives or not, realize that your technicians are your most valuable assets. Your shop’s ability to provide quality repairs, deliver optimal customer service and build a solid reputation for expert service hinges on the people who are making it happen every day.

By making sure your employees know they are appreciated, you will foster a sense of pride in their work and a commitment to highest-quality repairs.

Thank your techs for a job well done, provide an excellent work environment, listen to their suggestions and concerns, and give them control over their job responsibilities. Provide incentives that increase morale, motivate and encourage a team spirit. Consider flexible work schedules, reward outstanding efforts and boost the number of benefits you offer — such as paid training, work clothes, profit sharing and a tool allowance.

Let your technicians know that they’re an integral part of your business. Encourage them to share best practices with one another as a means to increase their efficiency and achieve shop goals.

Realize that your technicians represent a significant investment in time and money, considering the costs associated with finding good people and training them. As with any asset, you want a significant return on investment. The longer an employee stays with your shop, the higher your return.

Your techs play a crucial role in your shop’s overall customer service experience. Make sure their contributions are recognized as being a vital part of your shop’s success. They are one asset you can not afford to lose.