Employee appreciation directly affects employee satisfaction, which directly affects your bottom line. Research shows us that money does not equate to long term satisfaction and, sometimes, it's not financially an option.

So what are some other ways to show your employees you appreciate them without shelling out cold, hard cash? Here are five good ones to try out!

1. Flex-Hours. Experts, bloggers and authors agree - the best way to reward your employees is to allow for flexible work schedules.

An occasional half-day, late start or early departure never sunk a ship, and that few hours of free time is critical. It allows for the reward to be experienced out of the office, stress free, which we all know is hard to come by.

2. Free Pass Day. Assign these with discretion - you could be down a whole team if you are not careful! The free pass is basically an additional personal day, something that allows the employee to cash in on a guilt-free day, no questions asked, hours paid for.

Try to be as free with these, limiting the rules and regulations, though you may want to implement a 24 hour or 48 hour advance notice policy should you need to arrange for back up.

3. Rewards "Bucks". Distribute Monopoly or any kind of fake money that employees can eventually exchange for real products - lunch coupons, drink vouchers, spa certificates, etc. Allowing the employee to select their own reward can boost their motivation towards something they may really want or need.

4. Park like a king. That is right; the best parking spots are always reserved for head honchos, so what better way to show appreciation than to offer up the spot for a week or two, as a reward to a team member who has outshined the pack?

This type of reward also reminds the team that you are just another part of the machine and don't necessarily deserve special treatment - everyone deserves special treatment.

5. Remember the spouses. Show them that you appreciate the time they sacrifice with their loved ones so that they can be an integral part of your team. Host a dinner, set up a gym membership, something that can include everyone.