Suggestions on the methods to honor/appreciate the employees of our Company?

Can I have any suggestions on the methods to honor/appreciate the employees of our Company when they do a great job in the workplace?
Right now we are placing balloons in their workstations.

A letter of appreciation with a cheque may be presented in a special meeting
Placing the appreciation letter in Notice Board and a copy may be filed in his/her personal file.
The above things may boost the employee's morale and he will be a role model in the organisation and encourage other employees to perform well.

An employee can be awarded Bonus and this will help motivate other employees to give an extra effort. A bonus could be an extra amount in his arrival monthly salary or a shopping voucher or any other benefit in office premises will work.
Tmtaba offers services and a new perspective on issues concerned with Human Resources in Japan.