Intrinsic and Extrinsic Rewards: What They Are and Examples

There are two types of rewards in the world: intrinsic and extrinsic. Intrinsic rewards come from within, while extrinsic rewards come from external factors. Both types of rewards have their own benefits and drawbacks. In this blog post, we will discuss intrinsic and extrinsic rewards in detail and give examples of each type. We will also talk about which type of reward is better for achieving success.

Intrinsic Motivation

Intrinsic rewards are internal motivators that come from within ourselves. They are things like a sense of satisfaction, a sense of accomplishment, or a sense of pride. Intrinsic rewards are often more powerful than extrinsic rewards because they are self-motivating. We don’t need anyone else to tell us that we did a good job; we already know it. This can be a great motivator to keep doing our best work.

Tips for improving on this:

-Find your intrinsic rewards: What makes you feel good? What makes you proud?

-Set goals that will intrinsic rewards: Make sure your goals are things that you can achieve and that will make you feel good about yourself.

-Don’t compare yourself to others: Intrinsic rewards are about your own personal satisfaction. Don’t worry about what others are doing; focus on your own progress.

Extrinsic Motivation

Extrinsic rewards are external motivators that come from outside sources. They can be things like money, awards, or praise. Extrinsic rewards can be helpful in motivating us to do our best work, but they can also be a deterrent. If we only do our best work for the sake of getting an external reward, then we are not genuinely intrinsic motivators.

Here are some helpful hints:

-Don’t rely on extrinsic rewards: If you only do your best work for the sake of getting an external reward, then you are not truly an intrinsic motivator.

-Find other ways to motivate yourself: If you are not motivated by intrinsic rewards, then find other things that inspire you to do your best work.

-Be careful with extrinsic rewards: If you use extrinsic rewards to motivate yourself, be careful not to overdo them. Too much of a good thing can backfire and demotivate you.

So which type of reward is better? Intrinsic or extrinsic?

The answer is both! Using both types of rewards can help us achieve success. Intrinsic rewards will motivate us to do our best work even when there is no external reward. Intrinsic rewards are more powerful motivators, but extrinsic rewards can be helpful as well. The key is to find a balance between the two. If you are only motivated by intrinsic rewards, then you may not achieve all of your goals. Extrinsic rewards can also be a great motivator, especially if we struggle to find intrinsic motivation. Using both types of rewards can help us achieve the success we desire.

What’s the takeaway?

Both intrinsic and extrinsic rewards have their own benefits and drawbacks. In this blog post, we discussed intrinsic and extrinsic rewards in detail and gave examples of each type. We also talked about which type of reward is better for achieving success. Intrinsic rewards are more powerful motivators, but extrinsic rewards can be helpful as well. The key is to find a balance between the two. Using both types of rewards can help us achieve the success we desire.

What are your thoughts? Do you agree or disagree? Let us know in the comments below!

Do you have any intrinsic or extrinsic rewards that motivate you? Share your thoughts in the comments below!

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