So this isn't exactly about hugs and kisses, more like bonding with your child through physical touch. Research shows that children/babies who are hugged, kissed, held, etc. develop a healthier emotional life - and this means a better decision making process as the child grows into an adult.
Just opposite, children who are not hugged and held have a higher chance of developing attachment issues. This also can bring much stress and turmoil when the child enters teen years as well as lead to many issues for you as their parent.
Sometimes doing the small things, takes the most effort. As parents we often are so busy working to provide more than we had for our families, but what matters most is your time. So take the time to hug & kiss your child [and your spouse! :)] everyday, to help develop and grow a happy, healthy family.