Human Resource Management, Extrinsic and Intrinsic Award Essay

Human Resource Management, Extrinsic and Intrinsic Award - Essay useThese rewards are more relevant in low power-distance countries with good governmental support systems (Buelens et al., 2006, Pg. 232).Hence the select for extrinsic or intrinsic rewards should be gauged with origin to these social and cultural contexts. However in the era of globalization, making a choice between intrinsic or extrinsic becomes difficult. Balancing between these 2 extremes is a must for a modern day manager.As a manager, creating congenial environment that encourages intrinsic motivation will develop into intrinsic rewards at a later point. Framing rewards and recognition programs (extrinsic rewards) that complement an individuals intrinsic motivation will yield efficient results as well. E.g. recognizing the quick learning curve of an employee re-asserts the event that intrinsic rewards such as learning will be rewarded if they are in line with company objectives. Overall balancing is an act of recognizing employee motivation sort of than making choices on their behalf.What is the relationship between an employees remuneration and his or her feeling of worth Explain your rationale from the viewpoints of an employee and a manager. How can managers create a ratio between the two Total words 250Employees salary can have a positive/negative feeli... 177-179). Hence a perception of fulfillment of these necessitate increases the feeling of worth and vice-a -versa.From an employee view-point salary should compensate for skill sets, previous experience, job responsibilities and be comparable with best in the industry. However a higher pack for esteem fulfillment is also cognitively linked to salary in an employees mind. From a managers aspect salary is only flexible to the extent that it remains at bottom the band prescribed by the organization for a particular level. Salary accounts to cost if the manager is responsible for a cost location. Hence in wrong of worth, manage r has fewer strings to influence the perception considering only the $ value of salary.Manager can create a balance by providing a salary structure that reflects the perception of worth in the employees mind such as performance related pay, recognition for additional responsibilities handled etc. Apart from basic need fulfillment, employee perception can be influenced by fulfilling the need for esteem. Higher responsibilities, skill variety, task identity and significance (Buelens et al., 2006, Pg.193-194) - All these can be part of the boilersuit job package apart from salary, which will influence the perception of worth positively. As a conclusion, compensation should be seen as a continuum of satisfying inescapably and flexed within boundaries to improve the perception of worth.What type of compensation section would you like to have through your employer that is not currently offered Explain your rationale. Explain both the benefits and negatives this component will bring to y ou as an employee and will bring to the company. Total words 257Performance based pay is the new component preferred.