Compare and contrast the idea of extrinsic and intrinsic rewards with Herzberg’s Two-Factor theory of motivation? Does the idea of intrinsic and extrinsic rewards agree in principle with Herzberg, or not? How effectively have you seen intrinsic and extrinsic rewards used in the workplace?
The intrinsic rewards are the rewards that are fully attached to the job and are directly related to the job itself, the role, the responsibilities, the direct perks. These are the motivational factors.
The results which are attached with the job, the achievements, the recognition which propels one to do the job well. And these are intrinsic to the job.
And the extrinsic rewards are the several other factors which surrounds the job, but not the direct job. These are the environment in which a person is working. These are equivalent to the hygiene factors, which are deeemed to be outside the actual role to motivate the work force. These include interpersonal relationships, salary, security etc.
The idea of extrinsic and intrinsic are not fully agreeable as there are few factors which fall in both categories like the salary, status etc
But to motivate the workforce properly categorization in these terms is easy for the implementation of HR policies.