Thanksgiving has just passed, but I still feel thankful – and for several reasons. Partly, it’s because when I started working on this week’s column, it was the Thursday before Thanksgiving, and I was working from a 19th century hotel room overlooking the Plaza Mayor in Segovia, Spain.

I can’t find the words to adequately describe my experience there or the significance that country holds for me personally; Spain is the motherland – La Madre Patria. I’m thankful for the sights and sounds, the food, culture and history, yet in the midst of all of that, there was a part of me that couldn’t wait to get back home to celebrate Thanksgiving with my family, friends and coworkers. Being away helped me realize not only what, but who I’m thankful for.

We all have people in our lives, both personally and professionally, for whom we are thankful – and though we feel a sense of gratitude toward them, we may not always show it.

In business, specifically, there are those who make our work a little easier, who go out of their way to lend a helping hand. Perhaps it’s your boss, or a mentor, or maybe it’s an employees who always does a great job.

This holiday season, let’s move beyond simply feeling a sense of gratitude to actually expressing it. Especially in these challenging economic times, showing a little gratitude can go a long way. It may even have a direct effect on your bottom line.

According to a recent Gallup poll, 65 percent of people say they don’t feel appreciated at work. As a result, a sense of negativity in the workplace tends to increase while morale and productivity invariably decrease. The problem is that most employers don’t know how to express appreciation beyond financial means and the current economic crisis places serious limitations on their ability to reward workers with raises and bonuses —assuming, first and foremost, that the salaries they pay are satisfactory.

So how can you express a genuine sense of gratitude to your team at work despite the financial hardship your organization may be facing? Research indicates that some nonfinancial motivators are more effective than extra cash in building long-term employee engagement in most sectors, job functions, and business contexts.

According to a recent McKinsey Quarterly survey, “respondents view three noncash motivators — praise from immediate managers, leadership attention (for example, one-on-one conversations), and a chance to lead projects or task forces — as no less or even more effective motivators than the three highest-rated financial incentives: cash bonuses, increased base pay, and stock or stock options. The survey’s top three nonfinancial motivators play critical roles in making employees feel that their companies value them, take their well-being seriously, and strive to create opportunities for career growth. These themes recur constantly in most studies on ways to motivate and engage employees.”

A recent report on gratitude in the workplace by Louise and George Altman of intentionalworkplace.com states that “While gratitude is not a panacea for real structural problems within an organization, gratitude and recognition can play an important role in strengthening relational connections between colleagues. This can serve to build communication, collaboration and shared responsibility.”