What is an intrinsic reward?

Intrinsic rewards are those which directly links with the psychology of the employees. Examples are:

1) Job Autonomy

2). Task Identity

3). Task Significance

4). Decision Power

5). Job Freedom etc.

 

These are the things which you can give to employees to motivate them.

It's easy to deceive oneself with intrinsic rewards because they are so subjective and cannot be "validated or verified" by an external party. Someone might say they really enjoy a job, so they accept a low salary. However, they don't realize that subjective rewards do NOT have to be in conflict with objective rewards like money or status or prestige. A second disadvantage of intrinsic or subjective rewards is that you are the only person benefitting from it. You can't share it with loved ones. However, if you earn more money, then your family can benefit.

insrtinsic reward : the personal satisfacation you feel when you perform well and achieve goals