When a company earns profit due to the effort of an individual or group of employees, the company should appreciate their contribution by giving them additional payment as a bonus or commission. A good payment is motivational and is a major factor that affects job satisfaction. Some examples of extrinsic rewards are: PayĪ company can design good payment for the employees as the reward for contributing their precious time and energy in achieving the organization’s goal. There are various ways a company can choose to reward its employees. It depends upon the policy of the company. A properly designed extrinsic reward can also be emotionally attached with the employees as employees value such rewards.Īn extrinsic reward is also directly related to the job performance of the employees but it is not necessary that employees receive a reward every time they accomplish a task. Extrinsic rewardsĮxtrinsic rewards are the physical ones that come from an external source (employers) only. The freedom that employees receive to make their own decision and work as per their schedule is also a form of intrinsic reward. When employees continue to make better output, supervisors may bother less to manage them. Such feeling of pride plays a vital role in motivating them to give continuity to make even better outputs. But they feel proud of themselves when the work is perfectly done. People try to avoid the credit when the jobs are wrongly done. If implemented properly, employee recognition can benefit both employer and employees more than any monetary rewards. It is rewarding for employees when they are recognized by the co-workers and other members of the company for the work they’ve done. RecognitionĮveryone wants to be renowned at the place where they work. Employees become more than happy when their seniors or supervisors speak few words of appreciation for them in front of peers or co-workers.
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