Intrinsic motivation is when we do an activity because we enjoy it, not because we expect to receive an external reward for it. Examples of intrinsic motivation include when children play and learn because they are curious and eager. On the other hand, extrinsic motivation is when we pursue an activity because we are seeking an external reward.
Self-reward
There are two types of motivation: intrinsic and extrinsic. Intrinsic motivation is self-rewarding, whereas extrinsic motivation is motivated by an external factor. Extrinsic motivation involves doing something for a reward or to avoid negative consequences. While intrinsic motivation may seem better, extrinsic motivation is a normal part of human behaviour.
Self-reward is when you reward yourself for a specific task or achievement. The reward can be tangible or intangible. It may be a trophy for winning a race, a badge for doing something right, or money for doing a job. When you reward yourself for an activity, you are more likely to continue to do it. Extrinsic rewards are also more beneficial when they are used in moderation.
External rewards
When you are doing an activity for an external reward, it is considered extrinsic motivation. That means you’re doing it because you want the reward to come from outside of yourself. However, there are times when an external reward is necessary to get the desired result. The reward you are after may be money, a promotion, or public recognition. Conversely, the punishment you’ll receive could be a demotion or the cancellation of a contract.
When it comes to motivating employees, it is important to understand the difference between extrinsic and intrinsic motivation. In general, it’s better to offer a combination of both to keep your employees motivated.
The balance between the two
Motivation is a vital component of the work environment, and it’s essential to achieve a healthy balance between intrinsic and extrinsic motivation. While both types of motivation are necessary, the right balance depends on the individual and the goal. In addition to identifying your own motivations, it’s important to recognize and understand your team’s individual motivations. Failing to meet your team’s needs can lead to unmotivation, dissatisfaction, and bitterness. Conversely, denying your team’s intrinsic motivation may lead to financial exploitation, resentment, or even anxiety about their future.
Whether it’s for career development or a deeper inner calling, both types of motivation can be effective in achieving goals. Intrinsic motivation comes from inner values and may involve developing character traits, while extrinsic motivation is based on external motivation. When pursuing a goal, extrinsic motivation usually involves external rewards or punishments. The reward reinforces the behaviour, while punishment decreases its likelihood.