What Is Extrinsic Rewards

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What are Extrinsic Rewards?
Extrinsic motivation relies on factors outside of an individual’s personal motives. Attributes of extrinsic motivation include recognition awards, performance goals, compensation increases, or bonuses. These rewards provide satisfaction and pleasure that the task itself may not provide. An extrinsically motivated person will work on a task even when they have little interest in it because of the anticipated satisfaction they will get from some reward. The rewards can be something as minor as a smiley face to something major like fame or fortune. Extrinsic motivation does not mean, however, that a person will not get any pleasure from working on or completing a task. It just means that the pleasure they anticipate from some external reward will continue to be a motivator even when the task to be done holds little or no interest. An extrinsically motivated student, for example, may dislike an assignment, may find it boring, or may have no interest in the subject, but the possibility of a good grade will be enough to keep the student motivated in order for him or her to put forth the effort to do well on a task. Business organizations can use extrinsic motivation and a performance-reward system for energizing employees. Pay raises, bonuses, additional time off, or other benefits are common forms of extrinsic motivation. Companies can institute a performance management system to achieve maximum efficiency from employees when offering these benefits. Companies may also be able to reduce employee workplace accidents by offering extrinsic safety rewards. Zhou et al. (2009) states that the philosophy of extrinsic rewards is originated from the term” utilitarianism” and suggests that people’s behaviours are modifiable, so by providing extrinsic rewards their performance could be enhanced, while in comparison with “utilitarianism”, the term “Romanticism” refers to intrinsic motivation that boosts the...
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