Creating an employee recognition program can help you figure out and set a standard for how often and when an employee should be recognized. Set certain parameters so that the recognition or gifts are consistent and fair across the entire team. Ideas for when an employee or team should be recognized include when a team reaches an important deadline, when a project is completed, when great work happens and work anniversaries. Companies who recognize and thank employees are four times more likely to have highly engaged employees and two times more likely to have increased revenue over the past year, according to O.C. Tanner.