Welcome back. In this lecture, I'm going to show you the most useful approach to understand the mindset and means of employees. It's a very simple, precise theory that can help manager and understanding the employees and retaining them. The diagram that you're seeing represents the motivation theory which was designed by Abraham Maslow. According to this theory, humans have five major needs, which starts from the bottom of this triangle and move upwards. These needs are physiological security needs, social needs, esteem needs, and self actualization needs.

A person would satisfy the physiological needs first, and then the security needs and move upwards. Now, let's understand this theory from business point of view. Every employee has these needs and he's motivated towards fulfilling them. First, he has to fulfill the basic needs or the physiological needs. These include hunger, thirst, sleep, and relaxation. According to this theory, the basic needs are the most essential needs, and without satisfying them, a person would not function properly.

That's why they are the basic needs of a person. His safety and security needs. The second level of theory means that the person will be able to meet all his basic needs in the future as well. safety needs could also include financial security, emotional and postpone security. An employee must feel safe and should be protected against dangers and threats. These could include employee insurance savings schemes, Like provident fund or tragedy, an employee should also have job security so that he can satisfy the basic needs in future as well.

Social needs means that a person should be accepted from others around him. When an employee joins an organization, he must have been accepted and associated with his colleagues, seniors and teammates. An employee should feel that he truly belongs to the organization and is an essential part of it. As a manager, you should remember that being accepted socially is very important for an employee and you must help him in feeling so. esteem needs. These move, could be status or ego needs.

Employees want to be rewarded. recognized the desire respect from others. gaining recognition in the workplace is an essential need which many employees have. And they would sometimes go to extreme levels to prove their worth in the organization. When an employee reaches this level, he or she could have needs to gaining recognition, Glory or being independent. The final level in this theory is self actualization needs.

At this stage, the employee may feel the need to discover his true potential, he would start feeling the need to have personal growth. self actualization needs include creativity, self expression and self development. every stage or level is satisfied before moving to the next level. As a manager or as a talent management persona. It is your duty To fulfill all of these needs, move on to the next lecture. And watch how this theory could be used in a real life example.

I'll see you there.