I'm trying to convey in a concise phrase the concept that the management at a company frequently gives praise to its workers for job that are well done.
You could use the word kudos.
We used to have the informal notion of an "attaboy" as a verbal or written acknowledgement of work well done.
“(To give) credit where credit is due” is a fairly well established idiom, close to what you’re asking for, and used sometimes in management contexts:
A fair man, he liked to give credit where credit was due. [Source]
It is not difficult to get executives to give credit where credit is due — provided that is basically the desire of top management. [Source]
we used to say Bravo Zulu for a job well done
Bravo Zulu is a naval signal, conveyed by flaghoist or voice radio, meaning "Well Done"; it has also been used as part of vernacular slang
If internet slang is acceptable then you could use, "Woot!". However, this term might be limited to acknowledgement where excitement is involved or an extravagant accomplishment.
Employee: "I just finished the 1st quarter report 2 days early" Manager: "Woot!"
If you want to make it personal to where employees can really relate or understand its meaning then using a term frequently used by employees might be a better option. I worked for a small company where we used the term, "boolz" which makes no sense to anyone but us. Whe used it to acknowledge something important, exciting, or of quality, or to acknowledge one's hard earned accomplishment(s).
I’m trying to convey in a concise phrase the concept that the management at a company frequently gives praise to its workers for job that are well done.
Based on the understanding that you are exemplifying a “company” by the way it recognizes the efforts of its employees, you can say simply that Company X is exemplary. It’s showing of appreciation to its (choose your own adjective: (loyal, hard working, productive, creative, silently suffering) employees.