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Workers want and need to know their work is appreciated. Showing gratitude to employees is the easiest, fastest, most inexpensive way to boost performance. New research shows that gratitude boosts employee engagement, reduces turnover, and leads team members to express more gratitude to one another—strengthening team bonds. Studies have also shown that gratitude is beneficial for those expressing it and is one of the most powerful variables in predicting a person’s overall well-being—above money, health, and optimism. The WD-40 Company knows this firsthand. When the leadership gave thousands of managers training in expressing gratitude to their employees, the company saw record increases in revenue.

Despite these benefits, few executives effectively utilize this simple tool. In fact, new research reveals “people are less likely to express gratitude at work than anyplace else.” What accounts for the staggering chasm between awareness of gratitude’s benefits and the failure of so many leaders to do it—or do it well? Adrian Gostick and Chester Elton call this the gratitude gap. In this invaluable guide, they identify the widespread and pernicious myths about managing others that cause leaders to withhold thanks.

Gostick and Elton also introduce eight simple ways managers can show employees they are valued. They supplement their insights and advice with stories of how many of today’s most successful leaders—such as Alan Mulally of Ford and Hubert Joly of Best Buy—successfully incorporated gratitude into their leadership styles.

Showing gratitude isn’t just about being nice, it’s about being smart—really smart—and it’s a skill that everyone can easily learn.