sábado, 12 de enero de 2013

Types of reward



Intrinsic

An intrinsic reward actually fulfils employee’s intrinsic factors or motivators and thus motivation.
Examples:
-         Giving challenging tasks
-         Involving in decision making process
An intrinsic reward do not required to have increased salary and employee may be working at higher management rank without an increase in the salary and still motivated.

Extrinsic

An extrinsic reward actually fulfils employee’s extrinsic factors or hygiene factors and thus do not let him start thinking about leaving the company.
Examples:
-         Pay rise
-         Bonuses
-         Paid leaves
-         Annual recreational plans


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