Intrinsic and Extrinsic Rewards

Intrinsic and Extrinsic Rewards

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Intrinsic and Extrinsic Rewards

Intrinsic rewards are those benefits obtained by performing something perfectly by obtaining motivation from within. These rewards are obtained by being driven by interest or enjoyment. Achieving these tasks does not depend on others, but it all depends on personal efforts (Nosheen et al., 2017). These rewards are the best because they encourage a person to be more motivated and try other activities. The employees who obtain their motivation from within tend to be more productive and aim higher to achieve the best. Intrinsic motivation shows a person’s ability, competency, growth, knowledge, and self-motivation. The intrinsic rewards include personal achievement, a sense of pleasure, personal growth, and accomplishment.

Extrinsic rewards are external to the individual, and they are administered by the supervisor in charge or the manager in charge. Most of these rewards are in money forms such as salaries, overtime payments, or even bonuses (Farzana et al., 2016). However, extrinsic rewards can also be in the form of public recognition, verbal praise, promotions, and additional responsibilities. These rewards are a major source of motivation, and therefore the employees work on a task that they are not interested in or do not enjoy to obtain the extrinsic rewards.

Right-to-work laws are a set of laws in the united states, and they state that under no circumstances should a person be forced to join a union or pay a union as a condition to secure employment (Sudheer et al., 2017). Therefore, this affects unionization in that a person who works in a unionized workplace and is not for the idea of supporting the union can opt-out of the paying dues. The right-to-laws can also affect compensation systems in an organization (Phillip et al., 2017). These laws require union contracts to cover all the workers, and the cover is not only for those under the cover. Therefore, this situation can negatively affect the compensation system by reducing the union’s bargaining power, which in turn lowers the wages and benefits.

Reference

Farzana Riasat, Sobia Aslam, Qasim Ali Nisar, (2016), Do Intrinsic and Extrinsic Rewards Influence the Job Satisfaction and Job Performance? Mediating Role of Reward System: Journal of Management Info 11(1),16-34

Nosheen Khan, Hafiz Waqas, Rizwan Muneer, (2017), Impact of Rewards (Intrinsic and Extrinsic) On Employee Performance: International Journal of Management Excellence 8(2),937-945

Phillip Hoxie, Aidan C, Paul Sommers, (2017), The Labor Market Effects of Right to Work Laws: Open Journal of Social Sciences 5(3) 17-20

Sudheer Chava, Andras Danis, Ales Hsu, (2017), The Impact of Right-To-Work Laws On Worker Wages: Evidence from Collective Bargaining Agreements 8(1),1-70