Now you work twice the hours for a nickle more and no overtime!
Seriously though, you got some good advice above.
All I can add is when you do praise (and make it often) do it publicly. Let everybody know who did the good job and why they did it.
When you need to reprimand someone, do it privately, no matter how pissed you are and document that you met with them. EVEN IF IT IS ONLY A VERBAL. Just make a note in the file of the date/time/general subject matter if it is a verbal. And do verbals first unless it is a very flagrant violation...coming to work drunk or under the influence, gross misconduct...etc.
In my area, I could only give out gold stars for good things done. Some people died to get one, others could have cared less until I explained that was all I could give (state employees...personnel rules established by the legislature elected by the people who know it all).
But find something that motivates your staff and use that as much as you can. And tie it to whatever productivity measure your company has selected for your group. It will be obvious to everybody what you are doing, but, hell, that is what the company is in business for and why they came to work for the company.
And be honest. If there is a policy matter that you cannot discuss, just be upfront about it.
And get a can of "Leg-Off", because you will also develop friends who see an opportunity to use you for their own purpose and not the company's or other employees benefit.