These five things are not profit margin, gains, losses, tax deductions, or assets - but instead are the human factors of management.

You cannot put a price or value on the factors that drive an employees performance. This is because most people remain with an employer because of the quality and satisfaction derived from a rewarding and balanced workplace.

Great managers recognize and respect this "x factor" of the business world and work to improve it with these simple tips.

1. Motivation - Every employee is unique; therefore the motivation to perform better will be different for each person. Identify the motivator for each employee and provide opportunities that encourage their interest and performance.

2. Setting Goals - Make sure you have a vision for how you want your business to operate now and in the future. Communicate your vision to your employees so that they are directing their energies toward a common goal. They will feel like they are a part of the business and this will enhance performance.

There is so much written on transferring your vision these days that it's hard for nearly anyone to argue against the value of sharing.

Everyone needs a vision. Do you have one? A master vision should include long term visions, short term visions, and practical steps to make them happen. You may want to build in some rewards to motivate your employees to share in your vision as well.

Let's look at each item that should appear in your vsion:

Short term and Long term vision:

Once you have your lifetime business vision, you should break it down into things that you can realistically do in the short term and in the long term.

Short term visions are from the present to the next five years while long term ones are ten years and beyond.

Put them in order from the things you want to do sooner to the things you want to do later.

3. Praise - Take advantage of big and small opportunities to praise your employees for work well done. Your recognition of their performance means a lot and it is important that you acknowledge their efforts.

4. Feedback - Be lavish with praise but selfish with criticisms -but do offer kind words of constructive feedback that makes your employees feel respected and valued.

5. Management - Be available as a resource to your employees. They should feel comfortable to approach you with questions and concerns and not feel as if they are imposing on your time. They should be able to depend upon you for guidance and as a model of what excellent performance is all about.

In conclusion, then...

These 5 things then are what every great manager knows. As you start today with these simple tips that are easy to implement into the everyday workings of your business, you'll experience success. Give your employees and business anything and everything that will help them flourish and continue to grow.