A company's success is made up of its achievements, and these achievements are made possible by the hard-working team members behind the brand. One way to recognize this is to make time for team shout-outs.

Celebrating team wins starts with recognition, but it can be difficult to notice every individual's accomplishments on a day-to-day basis if you aren't making a point of it. That's why Mark Lurie, CEO of fine art and collectibles marketplace Lofty.com, empowers his team members to regularly recognize their peers.

"After each team meeting, anyone can give a shout-out to another team member for a recent accomplishment, after which the team claps and cheers. It's a great way to ensure that everyone's achievements are recognized and celebrated by the whole company," Lurie says. "After implementing 'wins of the week,' team morale rose dramatically."