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Manu Melwin JoyAssistant Professor
Ilahia School of Management Studies
Kerala, India.Phone – 9744551114
Mail – [email protected]
Different kinds of rewards
• Intrinsic rewards
• Extrinsic rewards.
– Direct compensation.
– Indirect compensation.
– Non financial Compensation.
Intrinsic rewards
• Participative decision making.
• More responsibility.
• Opportunities for personal
growth.
• Greater job freedom and
discretion.
• Diversity of activities.
Extrinsic rewards – Direct Compensation
• Basic Salary or Wage.
• Overtime and holiday
premiums.
• Performance bonus.
• Profit sharing.
• Stock options.
Extrinsic rewards – Indirect Compensation
• Protection programmes.
• Payment for time not
worked.
• Services and perquisites.
Extrinsic rewards – Non financial Compensation
• Preferred office furnishings.
• Assigned parking spaces.
• Impressive designation.
• Preferred lunch hours.
• Preferred work assignments.
• Own secretary.