Aside from the salaries and bonuses, organization must create strong organizational culture to align the goal of the company to the goal of employees. Apart from the culture, the organization can offer non-monetary benefits such as welfare and insurance to the employees. For example, Google offers their employees free food at the cafeteria. The company also states that if an employee dies, his or her family will be given a portion of the salary before he or she decease for 10 years.
One thing that is perceived to be more important than the welfare and insurance is the recognition. People like to be recognized, to feel needed. Simply train the managers to give small compliment or state the importance of the subordinates alone can maintain, or even increase, the productivity of the employees.