Employee productivity and success are strongly impacted by motivation and rewards, which are essential elements of organizational management. Developing an understanding of how various motivational techniques and reward systems affect employee productivity can improve organizational success. Examining how internal and extrinsic motivation interact was the research's main goal, along with various reward mechanisms, affecting employee productivity and contributing to organizational success. A quantitative research design was employed using a survey method. The research surveyed 521 employees from different industries. Intrinsic Motivation (IM), employee productivity (EP), extrinsic motivation (EM), financial rewards (FR), organizational success (OS), employee performance (EPF), and product quality (PQ) about extrinsic rewards were all assessed by the survey. The data was analyzed using SmartPLS. The association between employee productivity and reward categories was evaluated by Partial Least Squares Structural Equation Modeling (PLS-SEM). The results show that employee productivity and financial rewards are strongly positively correlated. Regular financial rewards were positively associated with employee motivation and performance. Additionally, this was demonstrated by better productivity evaluations and higher staff retention rates; businesses that adopted performance-based financial rewards had greater overall success. Research highlights the significant role of extrinsic rewards in increasing employee productivity and driving organizational success. The findings suggest that organizations implementing structured financial reward mechanisms experience significant improvements in workforce efficiency, leading to enhanced business outcomes. Employees who received consistent financial rewards demonstrated increased motivation, job satisfaction, and commitment to organizational goals. The study further indicates that a well-designed reward system leads to better product quality and overall employee performance.
Samrat et al. (Sat,) studied this question.