It’s not uncommon to have worksites that have employee of the month’ awards.
Some have other even less worthwhile (and effective) forms of morale boosting
At my work we get ‘shout outs’. Literally just your name being said by a person on a group zoom meeting. A corporate version of ‘mentioned in dispatches’.
My area once got a ‘gold star’ of achievement. When we heard that it was coming we naively thought it was an official state wide recognition. It in fact was a coat hanger bent into a star shape, covered in gold foil, and pinned to the wall.
Let me be clear, I’ve never once received a monetary bonus, or even a pizza party.