In: Economics
Discuss how you will motivate your employee by using one of the following motivational theories
1. Maslow’s Theory
2. Theory X and Theory Y Your choice should be justified with the support of related literature (300 words)
Maslow's theory - Maslow's Theory is a motivational theory describing 5 human needs in a hierarchy that can motivate a person.The needs are arranged from bottom to upward as - physiological needs , safety needs , belonging and love needs , esteem needs and self actualisation needs.
1) Physiological needs - These needs mean the basic requirements of human which are required for survival.eg air, clothes ,shelter , water etc.These are main motivators for a person.There are basic requirements which a person needs to live properly.
2) Safety needs - Once the physiological needs are satisfied, now person has a need for safety. Every person want some predictability and safety in his life. This can be achieved from family and societal factors like emotional security, social security, law and order, security against injuries or accidents etc.
3) Love and belongingness needs - After fulfillment of basic and safety needs , the person has an urge for being loved and have a feeling of belongingness.In this the need for love , affection and interpersonal relationships motivates a human.eg- friends , family , feeling of trust, acceptance etc.
4) Esteem needs - Maslow's categories this need into 2 parts - 1) esteem needs for the person himself like achievement, dignity, independence etc 2) wish to get respect from others like status , reputation etc.
5) Self actualisation needs - These needs are at the highest level. They mean to achieve self growth of individual , self fulfillment etc.The person tries to achieve his level of performance which he aims to achieve. eg- urge to become a ideal parent, to express himself athletically etc
So these are the requirements of a person arranged in an order. When one need is satisfied , the person is motivated to achieve other level of need.