Extrinsic And Extrinsic Between Employee Motivation And Rewards Essay

Extrinsic And Extrinsic Between Employee Motivation And Rewards Essay

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Extrinsic and Intrinsic Rewards
The link between employee motivation and the rewards they receive from their employers are vital to maintaining a loyal, reliable and steady workforce. The two categories of rewards, also referred to as motivators, are intrinsic and extrinsic. “The primary difference between the two types of motivators are extrinsic factors arise from outside the body of the employee, where as intrinsic elements arise from within the employee.” (Cherry, About.com) Extrinsic motivators for example would consist of working to earn money, job security, and rewards like extra time off, earned vacation days, a pay raise etc. Intrinsic motivators involve the personal motivating factors within an employee that keep them satisfied while on the job. Examples are praise/recognition and feedback, personal investment and self-fulfillment. (Di Ruzza, 1)
In the case of restaurant and bar TGIW, their high employee turnover rate is likely due to the imbalance or absence of both intrinsic and extrinsic motivators/rewards for current employees. Motivation within an employment base is a key component to any successful business, especially those in the service industry, which in general has a high employee turnover rate. According to (Di Ruzza, 2) there are three specific questions that TGIW should consider when addressing their issue of lacking employee motivation:
1) What is motivating people to work?
2) What is motivating employees to stay at work?
3) What motivates employees to go above and beyond what is expected of them?
The following paragraphs will aid in explaining the importance of implementing both intrinsic and extrinsic rewards to employees at TGIW to help reduce their high turnover rate.
Intrinsic Motivators

Intrinsi...


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...the employees will feel intrinsically motivated to complete a given task.” –Kendra Cherry (about.com)
It is important to note that timing and choosing appropriate work actions that warrant an extrinsic reward, very much affect the value of the reward over time. Rewarding an employee with a pay raise months after it was earned by a specific action, give that reward less value to the employee. Another example would be rewarding employees to often, again devaluing the reward itself decreasing its overall effectiveness as a motivator (Di Ruzza,5).
Having the appropriate proportions of both intrinsic and extrinsic motivators present in the workplace will help TGIW retain and maintain a strong employee base, and improve the relationship between employee and employer. Proper timing and intrinsic and extrinsic reward execution will help lower TGIW employee turnover rate.

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