The Power of Rewards: Enhancing Motivation and Satisfaction

When talking with coaching clients, or talking about goal setting, I often ask about rewards. However, those same clients then turn it around and ask me about my reward setting.  If you are like me, I know the power of rewards and in some ways I use them… but I’m not actually great at rewarding myself.  To help me, my clients and you, I did a little digging into rewards.  

Rewards have long been a fundamental part of human behavior. Whether it’s a treat for a pet, a paycheck for an employee, or a gold star for a student, rewards drive our actions and decisions in profound ways. However, if you are like me, I stopped using rewards to drive my actions, relying instead on willpower and accountability.  Yet, I think what it really came down to … is I didn’t know how to reward myself. 

Let’s get an understanding of the power of rewards and their various types can help individuals and organizations harness this tool to achieve goals, enhance motivation, and foster satisfaction.

Why We Want Rewards

At the core of our desire for rewards is a fundamental aspect of human psychology: the pursuit of pleasure. Rewards tap into the brain’s dopamine system, creating feelings of pleasure and reinforcing behaviors that lead to positive outcomes. This system evolved to help us survive and thrive by encouraging behaviors that are beneficial, such as eating, socializing, and learning new skills.

However, the desire for rewards isn’t just about immediate pleasure. Rewards can also provide a sense of accomplishment, boost self-esteem, and increase motivation. When we know there’s a reward at the end of a task or challenge, we’re more likely to persevere and put in the effort required to achieve it. This is true for both intrinsic rewards, like personal satisfaction, and extrinsic rewards, like money or recognition.

The Benefits of Rewards

1. Enhanced Motivation: Rewards provide a powerful incentive to take action. When individuals know that their efforts will be recognized and rewarded, they are more likely to engage in the desired behavior and maintain their motivation over time. It might be enough to push you through a difficult task or keep work when you wish you were done.
2. Increased Productivity: Rewards can boost productivity by encouraging individuals or groups to work harder and more efficiently. By setting clear goals and offering rewards for achieving them, we can be more motivated and productive. I often use rewards to get something done … “I’ll do X when I finish Y”. This often keeps me focused on X and encourages me to finish faster.
3. Behavior Reinforcement: Rewards help reinforce positive behaviors by providing immediate feedback. When a behavior is consistently followed by a reward, it becomes more likely to be repeated in the future.
4. Improved Well-Being: Rewards contribute to overall well-being by providing a sense of purpose and accomplishment. Whether it’s achieving a personal goal or being recognized for hard work, rewards can enhance self-esteem and life satisfaction.

Types of Rewards

Now that we understand the benefits, the hardest part for me was trying to figure out what a reward could be.  As I explored different types or rewards, I discovered this breakdown that resonated with me. 

Essentially, there are five different types of rewards.  How we use them and how they impact our behaviour is crucial. 

1. Purchase Rewards

Purchase rewards involve tangible items that individuals can acquire. These rewards can be particularly motivating because they provide a concrete and often immediate benefit. 

Examples: Gift cards, new gadgets, or personal items that an individual desires.

Benefits: Purchase rewards offer a direct and immediate payoff, which can be highly motivating. They also allow individuals to choose something that they personally value, enhancing the reward’s impact.

These are one of the first types of rewards that come to mind for me.  Yet, in my case, they don’t create a lot of incentive and so other types of rewards work better in my case.

2. Experience Rewards

Experience rewards involve activities or events that create lasting memories. These rewards are particularly effective for fostering long-term motivation and satisfaction, as they provide opportunities for personal growth and connection.

Examples: Travel experiences, attending concerts or sporting events, or participating in workshops and classes.

Benefits: Experience rewards offer enriching and memorable experiences that can enhance overall life satisfaction. They also provide opportunities for social interaction and personal development.

These types of rewards seem to interest me more than purchases, especially travel-type rewards.

3. Project-Based Rewards

Project-based rewards are tied to the completion of specific tasks or goals. These rewards are particularly effective in professional and educational settings, where achieving milestones or completing projects can be challenging.

Examples: Bonuses for meeting sales targets, certificates for completing a training program, or recognition for successfully leading a project.

Benefits: Project-based rewards provide clear and tangible incentives for individuals to focus on their goals and work diligently to achieve them.

4. Sensation Rewards

Sensation rewards are linked to sensory experiences that provide pleasure or comfort. These rewards tap into the body’s natural pleasure responses, making them highly effective for short-term motivation.

Examples: Enjoying a favorite meal, indulging in a spa day, or experiencing a thrilling adventure like skydiving.

Benefits: Sensation rewards provide immediate and often intense pleasure, making them powerful motivators for completing tasks or achieving goals.

I realized this is one of the reward types I use a lot, especially for short-term motivation. I don’t often think about these activities as rewards, but by reframing them, they easily transform into rewards. 

5. Time Rewards

Time rewards involve giving individuals the gift of time, either by reducing their workload or providing them with free time to pursue their interests. These rewards are particularly valuable in today’s fast-paced world, where time is often a scarce resource.

Examples: Extra vacation days, flexible working hours, time towards a hobby or an interest, or time off to spend with family and friends.

Benefits: Time rewards offer individuals the opportunity to rest, recharge, and pursue their passions. This can lead to increased job satisfaction, better work-life balance, and improved mental health.

Implementing Rewards Effectively

To harness the power of rewards, it’s essential to implement them thoughtfully and strategically. Here are some tips for doing so:

1. Understand Individual Preferences: Different people are motivated by different types of rewards. Understanding what individuals value and prefer can help tailor rewards to maximize their impact.
2. Set Clear Goals: Rewards are most effective when they are tied to specific, achievable goals. Clear objectives provide a roadmap for individuals to follow and make the reward feel attainable.
3. Provide Immediate Feedback: Timely rewards are more effective than delayed ones. Providing immediate feedback and rewards helps reinforce the desired behavior and keeps individuals motivated.
4. Maintain Fairness and Transparency: If you are using rewards to motivate a team, they should be distributed fairly and transparently to avoid resentment and ensure that everyone feels valued and recognized.
5. Balance Intrinsic and Extrinsic Rewards: While extrinsic rewards like money and gifts are important, intrinsic rewards such as personal satisfaction and a sense of accomplishment are equally vital. Balancing both types of rewards can create a more holistic and sustainable motivation system.

I recommend, looking at each of the five types of rewards and listing out rewards that would matter to you.  Have a list so that next time you are wondering how to reward yourself, you have a point of reference. 

Conclusion

Rewards play a crucial role in shaping behavior, enhancing motivation, and fostering satisfaction. By understanding why we desire rewards and how they can benefit us, individuals and organizations can leverage this powerful tool to achieve their goals and improve overall well-being. Whether through project-based rewards, purchases, sensations, experiences, or time, the strategic use of rewards can create a more motivated, productive, and fulfilled society.

I would like to know, do you use rewards, and if so, how do you reward yourself?  

People work for money but go the extra mile for recognition, priaise and rewards. 

Dale Carnegie

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