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Types of Reward

Extrinsic Rewards: Concrete Rewards That Employee Receive
Extrinsic Rewards: Concrete Rewards That Employee Receive

Intrinsic and Extrinsic Rewards with Examples January 11, 2018 By Shraddha Bajracharya Reward is benefits provided by the employers, usually money, promotion or benefits and satisfaction derived from the job itself such as pride in one’s work, a feeling of accomplishment or being part of a team.

Intrinsic Rewards
Intrinsic Rewards

Psychologists have found that intrinsic rewards can be more powerful motivators than an external reward system such as an employee bonus program. For example, employees who are given more opportunities to meet new challenges or learn new things tend to be self-motivated versus those that rely upon feedback or direction from their employers.