Final answer:
A manager of a startup company should use both extrinsic rewards and intrinsic motivators to attract talent, as both play important roles in job satisfaction and employee retention. Extrinsic rewards are tangible incentives, while intrinsic motivators fulfill internal satisfaction and sense of accomplishment.
Step-by-step explanation:
The question pertains to the methods that a manager of a startup company might use to attract talent. The correct answer to the student's question is C. Both A and B - implying that a mix of both extrinsic rewards and intrinsic motivators can be employed to attract and retain talent. This approach aligns well with findings in motivational psychology, which suggest that while extrinsic rewards such as financial incentives are tangible and can be very effective, intrinsic rewards which relate to the inner satisfaction and personal fulfillment that comes from doing a job, play a crucial role in long-term job satisfaction and employee retention.
Providing an example, Carl mowing the yard for $20 represents an extrinsic motivation, because the action is driven by an external reward. On the contrary, the businessman who feels that hard work is its own reward is an instance of intrinsic motivation, as it's driven by internal satisfaction. The overjustification effect warns us that too much emphasis on extrinsic rewards can undermine intrinsic motivation, making a balanced approach essential.
Regarding overall job satisfaction, research points to autonomy, amongst other factors like work content and personality, as being a strong predictor. Hence, while financial rewards are important, they are not the sole element contributing to job satisfaction and should be balanced with other factors that fulfill employees' intrinsic needs.