Intrinsic and extrinsic rewards are rewards based on intrinsic and extrinsic motivation respectively. Intrinsic rewards are self satisfying for example the feeling of accomplishment on finishing a project before its deadline or having delivered the work on time. It maynot be financial reward but will motivate the worker to climb up the ladder. It is a type of intangible reward. Extrinsic rewards are tangible rewards which the organisation or the manager confers on the worker when he performs the job well. It is tangible for example a raise in the salary or bonus.
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