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Essay / Intrinsic and Extrinsic Motivation - 1697
Extrinsic and Intrinsic RewardsThe connection between employee motivation and the rewards they receive from their employers is essential to maintaining a loyal, reliable, and stable workforce. The two categories of rewards, also called motivators, are intrinsic and extrinsic. “The main difference between the two types of motivators is that extrinsic factors come from outside the employee's body, whereas intrinsic elements come from inside the employee.” (Cherry, About.com) Extrinsic motivators, for example, would be working to earn money, job security, and rewards like extra time off, earned vacation days, increased pay , etc. Intrinsic motivators involve an employee's personal motivators that keep them going. those satisfied while 2) How often should an extrinsic reward be used as a source of motivation? These two questions take into account two important variables regarding rewards, what and how. “Extrinsic rewards can be used to motivate employees to learn new skills or knowledge about the job. Once the knowledge and skills are acquired, employees will feel intrinsically motivated to complete a given task. –Kendra Cherry (about.com) It is important to note that the timing and choice of appropriate work actions that warrant an extrinsic reward greatly affects the value of the reward over time. Rewarding an employee with a pay raise months after it was earned through a specific action makes that reward less valuable to the employee. Another example would be rewarding employees too often, which would devalue the reward itself, thereby reducing its overall effectiveness as a motivator (Di Ruzza, 5). The presence of appropriate proportions of intrinsic and extrinsic motivators in the workplace will help TGIW retain and maintain a strong employee base and improve the employee-employer relationship. Proper timing and execution of intrinsic and extrinsic rewards will help reduce TGIW staff turnover.