Question

What are some extrinsic and intrinsic rewards of work ?

Answer 1

Extrinsic rewards are rewards given for work which are external to work itself. Extrinsic reward mostly includes money. Some of the extrinsic rewards are bonuses, increments, gifts, awards, etc. These are usually given by the manager of higher authority to motivate the employee. These rewards are controlled by people and are hence called as extrinsic rewards.

Intrinsic rewards are psychological reward and satisfaction that the employee gets by doing the work effectively. Some intrinsic rewards are sense of meaningfulness, sense of choice, sense of competence and sense of progress. These rewards are what people are looking for these days as they keep them more happy.