I worked for a company that was always handing out cheap tokens of their "appreciation" (we all knew they didn't appreciate the employees but I guess they figured pretending might reduce turnover). Sometimes it was a free pretzel or water ice, other times it was a Thank You email that sounded like it was written by some cheap marketing AI. You could also get a "Shout Out" in the monthly newsletter that nobody read, but only if you twisted your coworkers' arms enough to submit one. In the end, all their efforts only served as constant reminders of how little the executives actually appreciated everyone, which decreased morale and increased turnover.

There's something extra depressing about working for a company where the millionaire executives think workers can be placated with 25-cent junk food. I think that company is still limping along somehow, which is great because the new Glassdoor reviews are usually pretty amusing.

Also, if you want to see an example of morale boosting gone wrong the Healthineers song is pretty great: https://www.youtube.com/watch?v=K5LiUrezV6k