How about having employees set up a wish list? Wishlistr is a snazzy Web 2.0 styled application which allows users to set up a list of goodies, complete with links to where they can be found.
I envision a company telling employees to pick, say 10 items they really want, ranging in prices from $20.00 to $500.00. Then, when the company wants to give a "pat on the back", they can gift the employee something they actually want.
Let me know in the comments if you know of company doing something like this and I'll see if I can find out how it is working as a motivator.
