Completely standard.
In the two schools I've worked in most recently, we've surveyed students about the rewards they like best.
Other contenders were things like House Points, treats (non uniform day/film afternoon in the theatre with popcorn/pizza lunch with the Head praising them) or recognition in assemblies.
Overwhelmingly the students said what really mattered to them was their parents being contacted to say they'd done well.
We do a postcard a week per teaching group - alongside house points etc - you just pick a kid who has stood out that week.
It's win win - takes me 10 minutes each week to write out my 5 cards, which are then dropped in at the office & mailed out. It's one of the best things I do in terms of effort/impact ratio.
I've had parents come in to a consultation day months later & say that the postcard praising a kid for generally being a good egg was a huge tipping point in them feeling appreciated.
As a parent at the school where I teach now, I can honestly say dc & I love getting a card.
Ds got one today for improved participation in French (he hates French, but has tried hard recently). Now he knows his teacher has noticed his efforts. He's bucked up enormously by this.
They're such a positive thing!