These days, it's all-out war for top IT talent. There aren't enough young people in science, math and engineering programs. It's estimated that 40 percent of today's workforce will retire over the next 10 years.

Employees, especially the younger ones, don't stick around for long. For solution providers, this is especially pressing amid adoption of the cloud and the recurring revenue business model that comes with it.

If you're tightening your belt and setting strict budget guidelines for your business, what can you do to convince employees that your company is a good place to work and worthy of more than just a year or two of their time?

Rhett Power, founder of Wild Creations, posted a few ideas about rewarding employees on a budget on Inc.com recently. "It's management 101," Power explains. A small act of appreciation lets employees know they're valued, and that they're doing a good job. You may not be able to spend big on raises, bonuses or over-the-top gifts, but you can award employees with things like an extra day off, or a personal parking space.

You can check out all of Power's suggested low-cost rewards here.