Summarize:

Employees see a different side of the company than you do. Because of this, they'll have a better idea of what needs improvement on their end. Often, these ideas will make their jobs easier, leading to more productivity. Whether it's a more reliable copier or a different manner of invoicing, remember that small holes sink ships, and small fixes keep them afloat. Try to implement as many of their ideas as possible not only to increase workflow but also to make them feel valued and listened to. Whether it's positive or negative, employees need to know how they're doing and that they're on the right track. Structure allows them to breathe easier. With feedback, they know exactly what is expected of them and in what areas they can improve upon. This makes you happier too, getting your point across! Be sure to keep the feedback personal. Don't parade about talking about how great one employee is while not giving praise to the others. And the opposite is even more true: don't berate a person openly. They'll feel dejected, unmotivated, and downright terrible. Mentor, coach, and align them for the future. To make them into a valuable employee, they need skills they can use for a long time coming. Give them opportunities to better their entire lives, not just to keep them punched in doing overtime. When they have a gig that gives them life skills, they'll see the value in their work. Make it clear you're interested in their work-life balance. Investing in their lives also means investing in their happiness. This can range from asking questions about their families to going out to happy hour to initiating a work trip. You want balanced, unstressed individuals as employees, not unmotivated drones who count the seconds ticking by. Getting an automatic email from your company saying, "Wow! You've worked a million hours for us! Thanks!" is nice, sure (if you know the HR department perhaps), but getting a hand-written note from your boss (even if you don't know him or her) would mean the world. Take these little opportunities, from birthdays to congratulations to condolences. When your employees can feel your presence, they'll feel like they're a valued part of the company after all, why else would you spend this time on them? Imagine a boss who comes to work every day in a suit and tie, goes straight to his office, and only calls you in when he's giving you a performance review. Fun, huh? Now imagine a boss who, once in a while, comes to work in a monkey outfit, gives everyone bananas, and throws impromptu meetings every so often (sometimes in the monkey outfit) to talk to his team, get a feel for how things are going, and update everyone on where the company is at. Which boss would make you want to come to work? Okay, so you don't have to wear a monkey outfit. But coming to work with a box of banana cream donuts wouldn't hurt! Take part of your lunch break to crack jokes with your team. Laughter is contagious and can keep everyone's spirits up under the pressure of work and deadlines. Let them see you as a person, quirks and all. Making yourself real will turn you into a person with feelings whom they respect and don't want to disappoint.
Listen to what they think needs improvement. Keep the feedback coming. Invest in your employees' lives. Make everything personal. Be a little weird.