Many employees leave their jobs in search of more challenging experiences, higher salaries, or career changes. Some move into leadership roles for the challenge, and others seek the move for pay increases. Leaders must find ways to meet the personal and professional needs of their employees, to maximize their human potential, and to satisfy career expectations.
Extrinsic rewards can be broadly defined as promotions, money, and recognition. Money is the most talked about extrinsic reward; however, research findings are mixed on the actual importance of this reward. Intrinsic rewards come from within and include feelings of achievement, competence, and self-actualization.