I have submitted an answer to my instructor, provided from Cliffnotes for my homework, but I have received some remarks for the answer. I would like you to revise the answer based on the provided remarks from the instructor, and send it to me again. the question is related to the below case study:

Eco-Insulate UK is a medium sized private sector organisation that manufactures eco-friendly

thermal insulation in the UK. The Managing Director (MD), who started the company in the mid1970s has set up a meeting with you to discuss concerns regarding increased turnover of skilled

and non-skilled employees.

During the meeting you are made aware that there is no incentive scheme in operation and there is

an expected level of performance broadly related to the notion of measured day work. Standard

times exist and are maintained by the Finance and Administration Department.

Most employees receive 28 days paid holidays per year. All employees are included in the noncontributory pension scheme however, it's generally known that special schemes operate for senior

staff only.

The MD is aware that the overall culture and performance of the company is quite negative and

that it's time to look at offering forms of reward incentives, benefits and recognition to stimulate

positive change.

In your capacity as a reward specialist practitioner, he asks you to put together a report for the

senior management team that will give them knowledge and understanding of the principles and

components of reward and pay, including how these might influence organisational, psychological

and cultural factors. In addition, he would also like them to gain an understanding of job

evaluation and market rates.

Based on the above, answer the following question using intext citation making appropriate use of academic literature, legislation, surveys, data intelligence, research and good practical examples to substantiate your response and illustrate key points. Please ensure that you use reputable sources as indicated on the unit reading list and that all cited sources are correctly acknowledged and presented in full in a bibliography at the end of your report.

The question is:

(AC 1.2) Assess the contribution of extrinsic and intrinsic rewards to improving employee contribution and sustained organizational performance.

The previous answer from cliffnotes was:

The role of rewards in motivating employees and driving sustained organizational performance cannot be overstated. Reward systems encompassing extrinsic and intrinsic elements are crucial for enhancing employee satisfaction, commitment, and productivity.

Extrinsic rewards, like financial compensation and bonuses, play a critical role in meeting employees' needs and can directly impact their motivation and productivity. According to Dhanpat et al. (2020), financial rewards effectively boost employee productivity, especially when tied to clear performance indicators. Consider introducing performance-based bonuses or profit-sharing schemes at Eco-Insulate UK to motivate employees and enhance company success.

Equity theory posits that perceptions of inequity can lead to dissatisfaction and demotivation (Colquitt et al., 2019). To address this issue, Eco-Insulate UK could make its pension schemes more inclusive and transparent. This would foster fairness and inclusivity, improve morale, and reduce turnover.

Intrinsic rewards such as job satisfaction, recognition, and growth opportunities are crucial for sustaining employee engagement and performance (Deci et al., 2017). For Eco-Insulate UK, enhancing job satisfaction and employee engagement through intrinsic rewards can be a powerful strategy to counteract the negative culture currently affecting the organization. Providing professional development and recognition opportunities can significantly enhance motivation and reduce turnover. Intrinsic rewards such as skill development and recognition are linked to higher employee engagement and lower turnover rates (Kim et al., 2020).

Recognition and non-monetary rewards boost employee motivation and foster a positive organizational culture. Public acknowledgment and formal recognition programs can greatly impact morale and job satisfaction. A study by Brun and Dugas (2020) underscores that recognition is a crucial driver of job satisfaction and employee engagement. Additionally, non-monetary rewards, like flexible working arrangements and additional paid leave, contribute to improved work-life balance, job satisfaction, and reduced burnout. Research by Lee et al. (2019) indicates that non-monetary rewards can enhance job satisfaction and reduce burnout, leading to sustained performance over time. Implementing these strategies at Eco-Insulate UK could shift the company culture to be more positive and supportive while increasing employee retention.

Linking rewards to organizational culture and performance is essential for long-term success. A study by Gagn et al. (2021) suggests that reward systems should be designed to reinforce the desired organizational culture and behaviors. To reinforce desired behaviors, reward systems should be aligned with the company's culture and strategic objectives. For Eco-Insulate UK, aligning rewards with values like innovation, teamwork, and sustainability can drive employees' desired behaviors and attitudes, supporting the company's strategic goals and cultural values.

Job evaluation and market rate analysis are crucial for maintaining a competitive and fair reward system. They help determine the relative worth of different roles within the organization and ensure that compensation packages are competitive in the industry. Gerhart and Fang (2021) noted that this will also ensure that the company's compensation packages are competitive within the industry, helping attract and retain top talent.

In conclusion, extrinsic and intrinsic rewards are vital in improving employee contribution and sustaining organizational performance at Eco-Insulate UK.

The remark from the instructor was

You included relevant information around the meaning of both extrinsic and intrinsic reward and discussed the value of different types of each reward in driving motivation.

You applied your answer to the context of the case study.

For Resubmission:

The command verb here is assess - you should consider both positive and negative arguments in order to reach a balanced judgement on whether or not extrinsic and intrinsic rewardscontribute to improved and sustained contribution and performance.