This is also a great marketing tool for your employee stock purchase or profit sharing plan. You are not only molding the future leaders of your company, but you are also creating a group of people who can do anything you need them to do. This creates a sense of pride and teamwork, keeping entry-level workers from reaching burnout as quickly. Cross training is important in creating the team. Be sure that you give credit where credit is due.
Informal feedback can go a long way.
Never underestimate the power of a positive word. By the same token, when employees make mistakes, don't reprimand them harshly. Explain how they need to change, but be sure to end your discussion on a positive note. Don't forget that you are human, too, and that you make mistakes. In many instances, I have witnessed entry-level workers with the most mundane work who have the best attitudes and spirit of teamwork.