Intrinsic Vs Extrinsic Rewards: What’s The Difference?
When it comes to team member motivation, rewards play a crucial role in shaping behaviour and satisfaction. However, not all rewards are the same and understanding their differences is essential to creating a balanced and effective recognition program. Intrinsic rewards come from within, providing personal satisfaction, while extrinsic rewards, such as
trophies or certificates, are external. Both types can significantly impact performance, engagement and overall job satisfaction. In this blog, we’ll explore the differences between intrinsic and extrinsic rewards.
Understanding Intrinsic Rewards: Motivation from Within
Intrinsic rewards stem from the sense of achievement and satisfaction from completing a task or reaching a goal. These rewards don’t come in the form of trophies or plaques but are deeply personal and internal. When intrinsic rewards drive employees, they are motivated by the work itself and the personal fulfilment it brings.
Examples of intrinsic rewards include:
- A sense of accomplishment after completing a challenging project
- Personal growth & learning new skills
- Feeling valued for contributing to a team effort
- Increased confidence in one’s abilities
Recognising these intrinsic motivations can be more subtle than presenting a trophy. However, personalised plaques can effectively commemorate these moments of achievement.
The Power of Extrinsic Rewards: Boosting Motivation Externally
Extrinsic rewards are tangible forms of recognition provided by external sources, such as awards, bonuses and public acknowledgement. These rewards are external motivators encouraging individuals to aim higher and improve performance by offering tangible goals.
- Recognition: Trophies and certificates publicly acknowledge individual successes, inspiring continued effort and achievement.
- Reward for Achievement: Practical rewards like bonuses and gifts can bolster motivation and spur future performances.
- Competition: Introducing awards can create a healthy competitive atmosphere, encouraging individuals to surpass their current standards.
The role of a trophy supplier is pivotal in providing these physical symbols of success, which play an essential part in boosting motivation.
Choosing the Right Reward: What Best Motivates Your Team?
Balancing intrinsic and extrinsic rewards is crucial when it comes to motivating a team. Different incentives drive different individuals and it’s essential to understand what resonates most with your staff. Finding the right reward in team settings can strengthen unity and encourage collaboration.
Considerations when choosing the right reward:
- Individual vs team-based recognition: Some employees may thrive on personal recognition, while others are more motivated by team success.
- Short-term vs long-term motivation: Extrinsic rewards often boost motivation in the short term, whereas intrinsic rewards encourage long-term engagement.
- Customisation: Personalised plaques and trophies can enhance the value of both intrinsic and extrinsic rewards, making the recognition feel more meaningful.
Choosing custom trophies for team achievements or personalised plaques for individual efforts can effectively tap into both intrinsic and extrinsic motivations.
Celebrating Milestones with Custom Trophies
Significant milestones, whether personal or professional, should be celebrated in a way that recognises both the external achievement and the internal satisfaction that comes with it. Custom trophies and plaques are the perfect way to mark these occasions, linking intrinsic and extrinsic motivations.
Examples of milestone celebrations:
- A 5-year or 10-year service anniversary, recognised with a custom plaque.
- Achieving a team project milestone, rewarded with a custom trophy.
- Individual performance targets reached, commemorated with a personalised plaque.
- Recognising community involvement or volunteer efforts with a meaningful award.
Discover the Perfect Awards for Your Team Today!
At
NQ Plaques & Trophies, we understand the importance of recognition and motivation in fostering a productive and engaged workforce. We offer a wide range of custom trophies and plaques that can be tailored to suit any occasion or achievement. Get in touch via our
contact page or
give us a call for more information. Let us help you celebrate and motivate with awards that reflect your team’s hard work and success.
