Employee Recognition
My former university department gave out three annual awards, with a certificate and a plaque. The recipients were chosen by an awards committee of faculty. The three awards were for research, for teaching, and for service. The committee would accept nominations from anyone. I doubt that self nominating was ever encouraged, however. 

Someone in the administration sends out a "call for nominations" a couple of months or so before the awards.

In addition, occasional special awards were given for something exceptional, such as the design of a new degree, awarded to the members of the design committee. 

The awards were presented at one of the "all hands" meetings that we had periodically. Presentation was usually by the dean. 

The following are also possibilities. Photos taken, maybe placed on the "wall of honor". An article in the department newsletter. A public announcement to local media. 

Note that this was department level. The university can also do similar things at the larger level, both regular (annual) and special awards.