Sample Essay

Employees are considered as an asset for different organizations and in order to motivate them organizations stresses a lot on their employees and they devise different strategies in order to train and motivate them in both the short and the long run. Organization usually focus on two types of rewards these rewards are known as extrinsic rewards and intrinsic rewards and the core motive of these rewards is to motivate the employees of the organization and to enhance their performance.

Extrinsic rewards are related to monetary benefits and they usually come from outside of the performer. The most apt example of extrinsic rewards is the money as it’s considered as the basic need of individuals. In business oriented environment money, shields and mementos are usually related to extrinsic rewards. However, in a broader perspective the extrinsic rewards are closely related to elements like working conditions and environments, status, security and pay of an employee (Thomas  2009). In the long run these extrinsic rewards results in promotion pay raises and they also result in special training. An intrinsic reward on the other hand is more towards inner satisfaction and they come inherent to the activity itself.

Maslow’s hierarchy is closely related with extrinsic and intrinsic rewards and the extrinsic rewards are related to physiological needs and safety needs while intrinsic reward are linked with needs of love and belonging and the needs of self esteem (McShane & Glinow 2009). Therefore, it can be said that extrinsic and intrinsic rewards are essential for employees in both the short and the long run and these rewards satisfy the basic needs of employees.

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