Reward

Definition

A reward is a benefit given to an individual or group for achieving a specific goal or performing above a certain standard. In the context of motivating employees, rewards can be financial, such as bonuses, or non-financial, such as recognition and career advancement opportunities.

Related terms

Intrinsic Motivation: The drive to perform an activity for its own sake and personal rewards.

Extrinsic Motivation: Motivation that comes from external factors like money, grades, or status rather than from the enjoyment of the activity itself.

Performance Appraisal: A regular review of an employee's job performance and overall contribution to an organization that often influences rewards