Linking Rewards To Employee Motivation At Work: A Chinese Study

Abstract

The purpose of this paper is to promote the understanding of the relationship between intrinsic and extrinsic rewards and motivation at work in the banking sector of China.  It also examines whether demographic factors such as age and gender differences impact employees’ attitudes in relation to intrinsic rewards, extrinsic rewards, and motivation at work. A unique questionnaire based survey was carried out in the banking sector. Total 200 questionnaires were distributed randomly to the employees, 157 were returned and 110 were ultimately selected for the analysis. Using descriptive statistics providing intrinsic rewards, extrinsic rewards and motivation in the banking sector was identified. The results indicate that the banking sector in China is more likely to provide intrinsic rewards rather than extrinsic rewards. In addition, extrinsic rewards can be emphasized to add the value of intrinsic rewards, as it can prevent workers from being dissatisfied with their jobs. Both individual ability and demographic characteristics are the key determinants of employee’s motivational preferences. From the findings for women, satisfaction is positively related to intrinsic rewards, but also for men, satisfaction tends to be positively related to extrinsic rewards.