There are essentially three classifications of rewards. They are intrinsic versus extrinsic rewards

There are essentially three classifications of rewards. They are intrinsic versus extrinsic rewards, financial versus nonfinancial rewards, and performance-based versus membership based rewards. What are the strengths and weaknesses associated with each type of reward? Which type of reward is most successful in the business environment and why?

Expert Answer

There are many things associated with rewards. Rewards are more useful in situation specific , team specific circumstances and may or may not have the same results. Perhaps, even in the hands of a skillful manager, the rewards may give an entirely different kind of result than in the hands of a less skillful manager.

Intrinsic vs extrinsic rewards: Extrinsic rewards are more linked to money and material well being while intrinsic rewards relates to feeling of accomplishments, competence, inner satisfaction. Extrinsic rewards are very good motivators. Higher monetary incentives helps a sales person to push more and a supervisor to finish production lot earlier. However, beyond a point, extrinsic rewards loses its motivation. Humans are not pavlovian dogs who will salivate when the buzzer goes. They also have internal needs like a job well done, recognition, a good boss, opportunities to learn something new etc. Intrinsic and extrinsic rewards also interacts in very different ways. For example, it has seen that in some situations, people who were enjoying intrinsic reward , their happiness decreases if extrinsic rewards are added. For example, creative professionals like designers who are feeling compentent as well as pride for designing something extra ordinary will react differently if he starts getting compensated in terms of extrinsic rewards only. Similarly, people at the bottom of pyramid may also need intrinsic rewards while extrinsic rewards may be a bigger motivator for them since their needs for money may be more urgent.

Above explanation is also true for financial versus non financial rewards. In a few cases, even within the category of extrinsic rewards, financial and non financial rewards may react differently. For example, a bank associate who spends 4 hours to commute may be more happier if he is placed in a branc nearer to his home than getting a raise. Hence, the nature of rewards may required to be customised according to individual.

Buy Essay
Calculate your paper price
Pages (550 words)
Approximate price: -

Help Me Write My Essay - Reasons:

Best Online Essay Writing Service

We strive to give our customers the best online essay writing experience. We Make sure essays are submitted on time and all the instructions are followed.

Our Writers are Experienced and Professional

Our essay writing service is founded on professional writers who are on stand by to help you any time.

Free Revision Fo all Essays

Sometimes you may require our writers to add on a point to make your essay as customised as possible, we will give you unlimited times to do this. And we will do it for free.

Timely Essay(s)

We understand the frustrations that comes with late essays and our writers are extra careful to not violate this term. Our support team is always engauging our writers to help you have your essay ahead of time.

Customised Essays &100% Confidential

Our Online writing Service has zero torelance for plagiarised papers. We have plagiarism checking tool that generate plagiarism reports just to make sure you are satisfied.

24/7 Customer Support

Our agents are ready to help you around the clock. Please feel free to reach out and enquire about anything.

Try it now!

Calculate the price of your order

Total price:

How it works?

Follow these simple steps to get your paper done

Place your order

Fill in the order form and provide all details of your assignment.

Proceed with the payment

Choose the payment system that suits you most.

Receive the final file

Once your paper is ready, we will email it to you.


Let us write that nagging essay.


Submit Your Essay/Homework Instructions

By clicking on the "PLACE ORDER" button, tell us your requires. Be precise for an accurate customised essay. You may also upload any reading materials where applicable.


Pick A & Writer

Our ordering form will provide you with a list of writers and their feedbacks. At step 2, its time select a writer. Our online agents are on stand by to help you just in case.


Editing (OUR PART)

At this stage, our editor will go through your essay and make sure your writer did meet all the instructions.


Receive your Paper

After Editing, your paper will be sent to you via email.

× How can I help you?