Benefits Of Rewards For Employee Motivation Essay

1082 Words Apr 16th, 2016 null Page
Today’s employers need to retain employees with exceptional skills and knowledge to stay competitive. When employees are motivated they have higher levels of productivity, increased efficiencies and they streamline processes to achieve the goals of the organization. Therefore, organizations need to invest in rewarding their employees to improve performance. Rewards should have positive effects on the employee while aligning with the goals and vision of the organization. Having a motivated workforce means understanding what motivates the individual and adjusting rewards to meet those needs. There are two specific types of rewards that motivate individuals: extrinsic and intrinsic. Because not all employees are motivated in the same manner both of these methods should be present in the strategy of the organization to address behaviors while increasing creativity and problem-solving skills, which will achieve the best outcomes for the company. As a consultant, developing and proposing a rewards system to improve employee motivation is very important. Organizations need to understand the advantages and disadvantages of each method and how the rewards help motivate their staff. As organizations become more diverse, they need to understand what drives their employees to achieve personal and organizational success. Therefore, both extrinsic and intrinsic reward methods can help achieve this goal.
Extrinsic Rewards The use of extrinsic motivation in based on tangible…

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