Motivation is the reason for action, yes, in both personal development and organization sense. Third, although intrinsic motivation — the internal drive to do an activity purely for its own sake — is often described as the optimal standard of motivation, external rewards can be an essential part of what compels people to take action. External rewards can take many forms, and knowing how to balance their effectiveness with our internal motivation and keeping the joy alive in long-term engagement is crucial. This article describes different varieties of external rewards, and their upsides and downsides, and how to establish a balance with intrinsic motivation, to achieve sustainable success.
Types of External Rewards
External rewards are compensation for completing a task or task performance. I will break down some of these rewards into types:
- Monetary Rewards
Monetary rewards include forms of cash bonuses, an increase in salary, commissions, and performance-based pay. They are commonly bestowed, for better or for worse, in offices to drive productivity and performance. For many, money is a clear and tangible acknowledgment of effort. - Recognition and Praise
The recognition includes verbal praise, certificates, employee of the month awards, public acknowledgment, etc. These incentives appeal to human validation and you can strengthen a single belonging and competence. - Material Rewards
Another type of external reward is gifts, vouchers, or luxury items. Usually, these are awarded to employees or participants as a way to appreciate their efforts. - Opportunities for Advancement
Recognition: Things like praise, promotions, new tasks, additional training because they are rewarded with growth and advancement. External motivation comes from outside the individual and it typically comes in the form of a salary increase, a new title, or another tangible reward. - Experiential Rewards
The external rewards can include travel packages, on-site team-building activities or access to special events. These experiences can motivate individuals by providing enjoyment, relaxation, or social interaction.
Benefits of Extrinsic Rewards
When used appropriately, external rewards can have several benefits on motivation and performance:
- But this alone had the opposite effect.
In particular, external rewards can be used to kickstart motivation or to surmount a lack of interest in a task. An example of such would be the assignment of certain dues for a certain level of what one has done for a bonus. - Positive Reinforcement of Desirable Behavior
The psychological basis for this figure is the phenomena of positive reinforcement induced by external rewards, i.e. someone doing something and then receiving a reward strengthens the behaviour or outcome. One example is when employees meet performance targets consistently and get praised for their efforts. - Attraction and Retention
Compensation and incentives: New talents are attracted to organizations while existing high-performing talent is retained with competitive salaries, benefits and rewards. It will help increase your job satisfaction and decrease turnover by offering meaningful rewards.] - Expectations Are Clear and Everybody Is Accountable
External forms of reward provide everyone with clear expectations as well as measurable goals. If one gets rewarded for certain outcomes, it is clear what needs to be done and it encourages people to try to meet the set goals.
This Is Challenging: Balancing External Rewards with Intrinsic Motivation
Striking the right balance between external and intrinsic factors is crucial to achieving long-term motivation and satisfaction from external rewards. Here are some tactics for finding that balance:
- Be a Third Party: Confront External Rewards
When an external reward aligns with the individual’s intrinsic value, then it is much more likely to enhance motivation rather than diminish it. Providing opportunities for professional development is one way you can cater to a person’s internal desire to develop while still offering an external reward. - Encourage Autonomy and Choice
Choices about how to perform tasks and the kinds of reward they wish receive give people a sense of agency and intrinsic motivation. Giving employees some options for reward can help maintain autonomy. - Use External Rewards Sparingly
External rewards should be used judiciously, and strategically. Over-rewarding diminishes the value of the reward itself. Instead, consider rewarding sporadically, or in the case of especially noteworthy effort, to ensure the rewards remain meaningful. - Incorporate Recognition and Feedback
Using non-material rewards such as praise, constructive feedback, or recognition can be especially effective for keeping intrinsic motivation alive. Acknowledging effort and providing meaningful feedback fosters purpose and fulfillment without sole reliance on positive reinforcement through material reward. - Foster a Culture of Growth
Promote the absence of the need to be great at a work or learning enterprise. By contrast, when people successfully feel like they are growing and developing, even occasional use of external rewards can keep them working away at the task, internally motivated.
Conclusion
External rewards can be effective motivators, but should be used judiciously and in moderation alongside intrinsic motivation, lest they have adverse effects. Thus, we can create a motivational landscape with the potential for sustainable engagement and long-term satisfaction by using salient rewards, aligning them to personal values, and a social context that fosters personal growth and autonomy. In conclusion, it is essential to find a balance between motivating ourselves and our teams intrinsically and extrinsically to enjoy the advantages of long-term, self-fueling motivation, as well as short-term, immediate results.
