Rewards are incentives or benefits given to
individuals or entities in recognition of
their achievements, efforts, or contributions.
Rewards can motivate and encourage desired
behavior, boost morale, and foster a positive
environment. They also recognize and reinforce
the value of accomplishments.
Common rewards include monetary bonuses, gift
cards, recognition awards, promotions, extra
time off, and non-monetary incentives like
flexible work hours or professional
development opportunities.
Well-designed rewards can significantly
enhance employee motivation by acknowledging
their hard work, boosting job satisfaction,
and fostering a sense of loyalty to the
organization.
Intrinsic rewards come from within an
individual, such as a sense of
accomplishment or personal satisfaction.
Extrinsic rewards,
external and typically involve tangible
incentives like money, gifts, or
recognition.