The Impact of Intrinsic and Extrinsic Rewards on Employee’s Performance (original) (raw)
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Effect of intrinsic rewards on task performance of employees: Mediating role of motivation
Canadian Institute for Knowledge Development (CIKD)
The basic purpose of this study was to examine the effect of reward management system, especially intrinsic rewards on task performance with the mediating role of extrinsic and intrinsic motivation of employees working in the banks in the capital of Punjab, Lahore, Pakistan. The secondary purpose of this study was to explore what level of performance these employees demonstrate towards their organizations when they are rewarded intrinsically and when they are motivated due to these reward management system accordingly. In this study, we collected data through self-administered questionnaires applying correlational explanatory research design. We distributed 300 questionnaires among which 290 were returned resulting in a response rate of 96%. The analysis of the data revealed that intrinsic rewards have positive impact on task performance of employees working in banks and motivation and its dimensions, i.e., intrinsic motivation, extrinsic motivation, and job satisfaction mediated this relationship. Considering the importance of appreciations received by bankers in the form of rewards and their effect on extra role performance and sophisticated management, policy makers should take necessary steps for improving the reward management system which will increase the task performance of employees because they will be motivated by these performance appraisal techniques.
International Journal of Emerging Trends in Engineering Research, 2021
Aim of this study is examined the effect of intrinsic reward and extrinsic reward system for employee performance in higher education institutes of Hyderabad, Pakistan. Primary data is collected through self-administered adopted questionnaire from previous studies. Faculty member and staff of higher education institute and from cases of the total 200 cases from higher education Institutes of Hyderabad, Pakistan. For the analysis of gathered data many tests were applied such as reliability test, regression analysis. Findings, revealed the intrinsic reward and extrinsic reward system are found to positive and significant impact employee performance in higher education institutes of Hyderabad, Pakistan. In past studies various sector of Hyderabad, Pakistan have been explored in regard of intrinsic reward and extrinsic reward system and employee performance, based on our limited this is first study is explored in context of higher education institutes of Hyderabad, Pakistan.
Role of Intrinsic Rewards in Employee Perception and Motivation
Research on humanities and social sciences, 2016
Employee Motivation has always been the central point of organizations while formulating and designing reward strategy and programs. Rewards carry planned objectives of employee motivation and performance growth completely and clearly set in the purpose behind what organizations achieve through rewards system. Employees tend to gain motivation for a defined intent while organizations focus performance growth and enhanced efficiency by rewarding employees. This study is revolved on the Motivation that employees perceive from different kinds of rewards given by the organizations to its employees. This is a conceptual paper focusing on the different rewards that may affect the performance of employees. Sample employees here taken are managers working in multinational environment from Banks, Government Organizations and LLC companies from the population on the basis of simple random sampling. Basing on dimensions of rewards (i.e. Salary, Promotion, Empowerment, and Recognition) and perc...
Now a day's firms are striving to achieve competitive advantage by using different strategic techniques. As a result of high competitive pressure; firms are making struggle to get competitive edge by utilizing workers' talent, abilities and proficiency to formulate the accurate exploitation of employees' works organization offer different benefits, rewards schemes. Satisfied employees becoming more devoted dedicate and attached with their organization as compared to other employees. The main purpose of current study is to determined relationship between Intrinsic and Extrinsic motivation by concentrating the mediating effect of Reward System. Data have been collected by applying the simple random sampling. Questionnaire technique takes on to accumulate data collected from staff in context of their satisfaction and performance. By applying statistical tools CFA and SEM outcome shows that monetary and non-monetary rewards really positively associate with employees' job satisfaction. Positive correlation lies between intrinsic, extrinsic motivation and employee's performance and job satisfaction of nursing staff in hospitals. Moreover, results divulged that rewards system significantly and partially mediates the relationship between intrinsic and extrinsic rewards, job performance, and job satisfaction. The research provide deeply appreciative that how institution can encourage employees by delivering valuable rewards and Intrinsic and extrinsic motivation programs.
Nowadays firms are striving to achieve competitive advantage by using different strategic techniques. As a result of high competitive pressure; firms are making efforts to get competitive edge by utilizing workers' talent, abilities and proficiency to formulate the accurate exploitation of employees' works by offering different benefits and rewards schemes. Satisfied employees become more devoted dedicated and attached with their organization as compared to other organization employees. The main purpose of the current study is to determine relationship between intrinsic and extrinsic motivation by concentrating on the mediating effect of reward system. Data has been collected by applying simple random sampling. Questionnaire technique is taken on to accumulate data from staff in context of their satisfaction and performance. The application of statistical tools CFA and SEM shows that monetary and non-monetary rewards positively associate with employees' job satisfaction. Positive correlation lies between intrinsic, extrinsic motivation and employee's performance and job satisfaction of nursing staff in hospitals. Moreover results divulged that rewards system significantly and partially mediates the relationship between intrinsic & extrinsic rewards, job performance and job satisfaction. The research provides deep appreciation that how institutions can encourage employees by delivering valuable rewards through Intrinsic and extrinsic motivation programs.
Impact of Rewards on Employees’ Motivation: A Study of a Pakistani Firm
2016
Employees are highly valuable asset for an organization. It is important for an organization to keep their employees happy, satisfied and motivated as motivated work force can help organizations in achieving the strong competitive edge and tremendous profitability. Reward management is a tool that organizations use in order to attract, retain and motivate their employees as reward is counted as a major reason behind employee motivation. This study is conducted to analyze the impact of rewards on employee motivation. The study follows quantitative research approach. Reward is taken as independent variable whereas employee motivation is taken as dependent variable. The study aims to highlight the relationship between these rewards and employee motivation. 100 questionnaires were distributed among the employees out of which 93 questionnaires were returned back with response. The figures and results show that there is a positive association between motivational factors and different typ...
Kuwait Chapter of Arabian Journal of Business and Management Review
In a competitive business environment, the concept of rewards and employee motivation has become a popular point of discussion in many successful organisations. Companies need to review their reward systems in order to improve employee motivation, increase performance and stay competitive. The main purpose of this research was to investigate the role that intrinsic and extrinsic rewards play in motivating employees. This study in assessment of this problem adopted an explanatory research design using quantitative methodology and a survey strategy carried out among employees at a medical devices company in South Africa in order to assess these. The research had the following three essential objectives: to ascertain whether employees value rewards as motivation factors, to establish the extent to which employees are satisfied with current reward systems, and to identify which rewards (extrinsic or intrinsic) employees consider most beneficial. Forty (40) questionnaires were collected from respondents in order to explore and analyse their opinions on these topics. The analysis of the data collected from the questionnaires suggested that rewards are highly valued as a motivating factor by respondents. The research further suggested that employees were generally satisfied with, and benefited from the current rewards offered by the company. Additionally, it was found that employees were more motivated by intrinsic rewards rather than extrinsic rewards, although a thirteenth cheque and annual salary increases (extrinsic rewards) were the most ranked rewards for employees at the company.
Business Studies Journal, 2021
People are one of the most crucial factors of production. The employee is the heart of the labor-intensive garments industry in Bangladesh. The growth, competitiveness, survival, performance mainly rely on the efficiency and performance of its human resource. This study aims to assess the impact of intrinsic & extrinsic rewards on employee performance. It intends to examine whether intrinsic rewards or extrinsic rewards have more impact and influence the overall performance like productivity, the profitability of employees in the garments industry whereas motivation, satisfaction are considered as mediating variables. The study is based on the selfdetermination theory (SDT) & intrinsic and extrinsic theory of motivation. To serve the purpose, five (05) most renowned garments factories have been selected based on their performance to represent the whole industry. A questionnaire is also surveyed to 50 employees of the top, mid, and lower levels of employees of the selected garments factories. The data have been analyzed by correlation, regression, ANOVA and Chi-square test using SPSS & Strata software. It is found that all independent variables have a significant correlation with performance. The study also reveals that employee performance in the garments industry mostly relies (83.1%) on extrinsic rewards & intrinsic rewards have a low level (76.1%) of impact on motivation, satisfaction, and overall performance.