How would you defined Extrinsic and intrinic in your personal life.

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timer Asked: Jun 25th, 2018
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Question Description

Based on your personal experience, the video, and readings, respond to the following discussion prompts:

  • Provide some personal examples of when an intrinsic and extrinsic motivational reward was successful and unsuccessful either from your viewpoint or from a manager’s viewpoint. Justify why they were and were not successful.
  • From Module’s 1 discussion on the multi-generational workforce, explain how managers can use different theories to motivate the multi-generational workforce and retain employees. Provide specific examples.

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Extrinsic and intrinsic rewards Extrinsic rewards—usually financial—are the tangible rewards given employees by managers, such as pay raises, bonuses, and benefits. They are called “extrinsic” because they are external to the work itself and other people control their size and whether or not they are granted. In contrast, intrinsic rewards are psychological rewards that employees get from doing meaningful work and performing it well. Extrinsic rewards played a dominant role in earlier eras, when work was generally more routine and bureaucratic, and when complying with rules and procedures was paramount. This work offered workers few intrinsic rewards, so that extrinsic rewards were often the only motivational tools available to organizations. Extrinsic rewards remain significant for workers, of course. Pay is an important consideration for most workers in accepting a job, and unfair pay can be a strong de-motivator. However, after people have taken a job and issues of unfairness have been settled, we find that extrinsic rewards are now less important, as day-to-day motivation is more strongly driven by intrinsic rewards https://iveybusinessjournal.com/publication/the-four-intrinsic-rewards-that-drive-employeeengagement/ Provide some personal examples of when an intrinsic and extrinsic motivational reward was successful and unsuccessful either from your viewpoint or from a manager’s viewpoint. Justify why they were and were not successful. Working for the Department of Defense has its EXTRINSIC rewards to a certain degree as far as pay is concerned its always in the bank never short unless you just didn’t do your time sheet correctly, your medical benefits are a plus and then there is also a Thrift Savings Plan (TSP) a contribution plan for United States civil service employees and retirees as well as for members of the uniformed services. Which most employments call it a 401(k) it’s a feature of a qualified profit-sharing plan that allows civilian employees to contribute a portion of their wages as well. Both can be withdrawn after retirement. What makes this an extrinsic there are no pay raises employees are basically given a Step Increase A Quality Step Increase is a faster than normal within-grade increase used to reward employees at all General Schedule grade levels who display high quality performance. To be eligible for a Quality Step Increase, an employee must: • be below step 10 of their grade level; • have received the highest rating available under their performance management program; • have demonstrated sustained performance of high quality; and • not have received a Quality Step Increase within the preceding 52 consecutive calendar weeks. or bonuses unless it’s your anniversary or your rating period. Its written in a contract upon accepting the position that your pay will only be given on these following circumstances which are written in format for you to clearly agree to and sign. "Rating" means evaluating employee or group performance against the elements and standards in an employee's performance plan, summarizing that performance, and assigning a rating of record. Time-Off Awards Provides an in-depth explanation of time-off awards: the legal authorities, eligibility criteria, basis, major features, and advantages and disadvantages for granting this form of award https://www.opm.gov/policy-data-oversight/performance-management/performance-managementcycle/rewarding/quality-step-increases/ ...
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melissanursingExpert
School: UT Austin

Attached. Bye!!!!

Running head: INTRINSIC AND EXTRINSIC REWARDS

Intrinsic and Extrinsic Rewards

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INTRINSIC AND EXTRINSIC REWARDS

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Intrinsic and Extrinsic Rewards
Question 1
Intrinsic rewards are defined as the non-physical rewards that employers give to the
employees. They include things such as praise and recognition while extrinsic rewards involve
the physical rewards. These include commission, promotion and profit sharing. An example of
intrinsic reward that was successful from the manager’s point of view in the workplace was the
recognition (Gerhart, et al. 2015). A remember when a colleague of mine was appreciated for
having to be the best perf...

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Anonymous
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