How to Tell the Difference Between Intrinsic And Extrinsic Rewards
Employees can be given rewards as incentives, or other forms of recognition by their employer. These are meant to encourage employees to improve or maintain their performance. This can be extrinsic or intrinsic. These rewards can be either intrinsic or extrinsic. They are not monetary, and don’t involve any payment (Ngwa and colleagues, 2019). These intrinsic rewards come from the inside and can be a result or job satisfaction, autonomy, or accomplishments. Examples of intrinsic rewards include feeling great about the job done, feeling a sense of pride in one’s work, and feeling respected by colleagues (Asaari et al., 2019). Employees feel fulfilled and motivated to do better. Extrinsic rewards, on the other hand are external ones such as bonuses, promotions and benefits. To encourage employees to do better, or to continue performing well, these rewards may be offered to them. These rewards can be used to motivate employees because they are tangible. Cont…
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