How do you motivate your staff when you can't afford to give them a raise?

Bayt.com regularly conducts research on what factors motivate employees and result in their engagement and job satisfaction and optimal productivity.
Our most recent study was a poll on what factors promote employee retention in the MENA.
In addition to salaries and benefits which only 26.6% of professionals said were the most important factor influencing retention, other factors weighed heavily, including performance recognition, good manager-employee relationships, training and development opportunities, clear career paths, good working conditions and flexible work arrangements.
Moreover 86% of respondents said that if companies offered reasonable job security that would improve retention and over 44% of respondents said "fear of being fired" greatly influenced their desire to search for a new job.
Clearly today's employers need to tread the fine line of offering fair and competitive and creative packages while also providing a physical environment and corporate culture that employees thrive in as well as clearly defined growth and career progression paths for all including regular and relevant requisite training.
More on what motivates retention can be found here:- http://blog.bayt.com/2013/02/bayt-com-infographic-employee-retention-in-the-mena-workplace/

That makes him feel as the leader in his work - many fun and break the routine - find the spirit of competition and the interaction between them - always encouraged them in their work and showed admire the work of each employee -

the motivational characteristics of work is not only linked to financial aspects.
Increasing autonomy, job enrichment and employees' development have higher impact on employees satisfaction and can be easily linked to organisational objectives.

By offering non-cash rewards.
Non-cash rewards can have a great impact on the performance of employees.
Some alternatives to a raise include: gift cards, free parking spots, gym memberships, etc.
More on Bayt Blog: http://blog.bayt.com/2012/10/six-innovative-alternatives-to-cash-bonuses/.

Linking motivation with only raise in salary is a blunder that many companies had made in the past and now management of most of the big corporations do not just depend on raise in salaries or giving employees an annual bonus but there are many other monetary/non-monetary rewards, perks and allowances to employees motivated.
Recognition awards like Employee of the Month is one example.
Providing free food on-campus/sites to employees is another one.
Facebook/Google are good examples of the companies doing that.
Providing training to employees in their respective fields or soft skills can also be used to motivate them and sometimes all an employee is looking for are few words of appreciation from their supervisor/boss.

There are creative ways I know one manager buys Organic apple, cut green paper to look like a leaf and then attaches to the branch of an apple Then, he writes, "Thank you"