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Reward System
A system that recognizes and rewards employees for their contributions to the organization, often influencing their performance and motivation.
Compensation System
A structured approach deployed by organizations to determine the pay and benefits for each position, including mechanisms for adjustment and incentives.
Extrinsic Rewards
Tangible rewards given to employees for performing specific tasks or reaching objectives, including money, gifts, or other physical rewards.
Intrinsic Rewards
Refers to non-material rewards such as personal achievement, professional growth, sense of pleasure and accomplishment.
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