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.