Question

Managers can use either extrinsic or intrinsic rewards to encourage better work performance. Define each type of reward and provide an example of each reward and how it was used to encourage better work performance.

Answer 1

Rewards are basis of reference that Organizations and managers use in order to motivate employees and there are various kinda like extrinsic and intrinsic rewards for the same. Extrinsic rewards are physical rewards like pay hike, hike in designation, the organization offer monetary benefits to the individuals in order to encourage them to work as individuals in the organization. Intrinsic rewards on the other hand are intangible and cannot be seen or touched but it is an emotional feeling that helps.employees to connect with the organization, for example working successfully in a challenging environment depicts that it provides a job satisfaction that will help employees understand what they do and what will help them in the process as well.