This is neither more interesting nor important but sometime we really think about it. Does it make some difference to make our work culture energetic, peoples full of motivation, confident, happy and the most importantly honest and loyal? In my opinion "YES".
There are many positive things behind this philosophy. To give recognition to any individual or a team's outstanding work or contribution some organizations gives the rewards time to time (monthly, quarterly, yearly or so). But for me I think the best reward is to get appreciation, a wave of energy and support, from their team members with whom he/she work hard and makes the things possible.
Now the challenge is for employer to create such an environment. Where people could speak of heart. I try to put this discussion in open platform "LinkedIn" and got very valuable inputs, thoughts from experts. This is not possible to copy all the content from this discussion platform to here. but you can read some good points on this article from here .
Also I would like to hear your voice (feedback) to understand it better with your point of view. Please share your thoughts to learn this lesson from experience.