Impact of Financial and Non-Financial Rewards on Interns’ Motivation

Abstract

Internship program can be considered as important factor of undergraduates’ employability skills development. This study attempts to identify and investigate the impact of financial and non-financial rewards on interns’ motivation with special reference to the management interns in a government university in Sri Lanka. A survey was conducted for data collection through a pre tested questionnaire distributed to management interns. The study follows the stratified sampling method to collect data and 306 interns were included in the study. Descriptive analysis, Cronbach’s alpha, Pearson Correlation and Multiple regression were used for data analysis. Findings revealed that the financial and non-financial rewards significantly impact to intern’s motivation and positively correlated. However, the researchers clearly found that, there was a positive relationship between nonfinancial rewards and interns’ motivation than financial rewards. Study concluded that there was a significant impact between reward system and interns’ motivation and highly impacted dimension was non-financial rewards than financial rewards.