BODY

1. Physiological Needs
The first and most essential tier of the needs on Maslow's hierarchy are physiological
needs. It comprises basic human survival needs that include food and water,
sufficient rest, clothing and shelter, overall health, and reproduction. Maslow states
that these basic physiological needs must be addressed before humans move on to
the next level of fulfilment. Money being the motivator in this area, it includes wages,
salaries, bonuses, stock options and retirement plans. Wages and salaries account
for roughly 45 percent of De Beers annual compensation budget. The most crucial
component of the compensation package for employees is money for it helps
employees meet the majority of their physiological demands, so food, clothing, and
shelter can be obtained using one's earnings. Ensuring a comfortable work
environment can also aid in the satisfaction of physiological needs. Offering benefits
at a subsidized price helps minimize employee spending, giving them more
discretionary income to spend on other necessities that assist in fulfilling their
physiological needs and even more. These include gym, laundry services, etc.

2. Safety Need

The second tier of Maslow's hierarchy of needs is safety as body security,

employment security, resource security, family morality, and health. It defines the
safety need as the need to be safe from bodily and psychological harm. A sense of
security regarding an employee's health, both physical and mental is another
component that is as important as a safe place to reside. Companies are giving
disability and life insurance, which increases employee trust and loyalty and
contributes to a sense of long-term safety and security. The provision of retirement
plans is a further significant element utilized to meet safety demands. Workers gain a
sense of long-term security from knowing they will be able to provide for themselves
during their retirement years. Corporations are providing employee assistance
programs and counseling services to help with emotional and mental well-being.
These services offer psychological security by utilizing licensed professionals who
can be accessed through a confidential helpline (where employees call in to speak
with competent counselors about problems ranging from place of employment
conflict and stress to personality disorders and addiction recovery) or face-to-face
meetings with trained counselors who can help employees cope with their emotional
difficulties.

3. Love/ Belonging Needs

The desire for interpersonal relationships and belonging to a group is the first of the
social desires. Friendship, intimacy, trust, acceptance, receiving and giving affection
and love are examples of these requirements. Both employers and employees can
benefit from cohersive teams and produce synergy as a team. Encouraging your
staff to work together, there is a possibility production output may increase and
generate fresh and innovative ideas. Given that it will also aid in meeting the
demands of its employees of belonging needs, it is a mutual beneficial arrangement
for both the business and employee. Other initiatives include lunches, soirees,
getaways, sports teams, clubs, mentoring and activities that let the staff bring their
children and pets to work. To sum it up, open-concept workspaces and vreak areas
that provide employees an opportunity to mingle and socialize with one another
enhance belonging needs.

4. Esteem Needs

Esteem needs encompass confidence, strength, self-belief, personal and social

acceptance, and respect from others, with time they foster assurance and and
increase a workers drive and output. One can feel appreciated for their efforts when
they receive praise and recognition. According to research, a lot of people join or
stay with a company in order to fulfil their need for self-worth by feeling like their
work is rewarding. . Employees prefer to believe that their efforts help to build a
positive image of them. Businesses can put in place a variety of easy-to-implement
and affordable programmes to support these feelings. Giving out business cards with
the name and title of the employee results in an emotional appeal, a feeling of
connection, and a sense of pride in the company. In order to maintain employee
motivation, several businesses have begun forming elite societies or groups that
include the top technical professionals. Ambitious workers seek for challenges and
opportunity for advancement. They seek a well defined job with clear career
prospects. Reserved parking spaces, valuable rewards like an expense-paid luxury
retreat for winning competitions (such as highest salesperson or highest production
output for the year), and recognition programmes within the company (employee of
the month or year) and/or throughout the community (recognition announcement in
local paper or trade journal) are additional methods to satisfy esteem needs and
motivate employees.

5. Self Actualization Needs

Abraham Maslow, a humanist psychologist, provided one of the most widely

accepted definitions of self-actualization. The desire for self-actualization, also
known as the need for self-fulfillment and to become the best version of oneself, is
the fifth and final layer of Maslow's hierarchy. Employees who have successfully met
the four basic needs are now seeking ways to improve not only themselves but also
those around them and the world at large. One gets the impression that once these
requirements are met, they'll probably get stronger as they're nourished and fulfilled.
As a result, this level of the hierarchy is employed to motivate personnel and support
their peak performance. Offering tuition reimbursement programmes and promoting
enrolment in classes and courses linked to their job duties are two fundamental ways
that businesses can support their employees in meeting this need. Plans for
educational assistance give workers the chance to advance personally and
professionally while also assisting them in keeping up with the rapidly changing
workplace.