According to A.H. Maslow's A Theory Of Human Motivation, every human has five basic needs; Physiological, Safety, Social, Self-esteem, and Self-actualization. This is called Maslow's Hierarchy of Needs which is considered a mainspring in understanding human beings.
Similarly, employees are the main pillars of any organization, and keeping them well-trained, satisfied, and happy is what makes a great organizational asset, helping the company perform better and achieve goals. It will also lead to better employee retention, lesser absenteeism, a motivated and energized workforce, a positive employer image, customer satisfaction, and last but not least, increased productivity. So here are the 7 basic needs that every employee has and how you can meet them.
1. Secure and Stable Finances
Every employee is coming to work with one thing in common that they prioritize above most of the other things and that is the financial aspect of the job. It is the wages that pay for the needs of the employees, even though they may not be the driving force for every employee. To fulfill this, the employer needs to assess employee salaries now and then, to make sure it is competitive and up to the mark against the industry average. Regularly assessing the salaries will discourage your employees to look somewhere else with a more tempting offer and you will gain confidence in your workforce.
2. Security
When it comes to security, it is not always financial security that the employee demands but it is also the job security that the company offers. Giving job security is what will make the employees stick to the company in the long run. According to a report published by Bloomberg, the layoffs by tech companies are reaching high levels of layoffs during the pandemic. In this scenario, when your employees feel secure about their position in the company and know the employer will not fire them without giving proper notice will make a positive impact on their productivity.
3. Health
A healthy yet average employee will serve a company better than an unhealthy but high performer. So make sure you are taking care of your employees' health and well-being. This includes not only the physical but the mental aspect of it too. You can offer flexible and remote working options, encourage employees to take needed breaks, regularly review the workload, and offer health benefits.
4. Purpose
Employees need a purpose that drives them toward reaching their full potential. The best way to achieve this is by aligning the employee goals with the company goals. You need to make it clear how you value your employees and the hard work they put in and show them that their contribution has made a visible and clear difference.
5. Team Bond
Employees spend half of their awake time in the office so it is important for you to present them with a comfortable work culture. As it is a fundamental part of a human being to crave companionship, you need to make sure you are helping them build strong interpersonal relationships at work as it will create a successful workplace with increased productivity.
6. Recognition
When you are recognizing and appreciating hard work, your employees will try harder to perform even better. Appreciation and recognition will increase their self-esteem and make them feel motivated and valued, giving them a sense of accomplishment. You can show your appreciation by giving financial rewards such as incentives, bonuses, or commissions based on performance, merit, or seniority. For non-financial rewards, you can opt out of options like flexible work hours, giving them the freedom to handle their projects, extra leaves, etc.
7. Work-life Balance
According to a recent survey, 72% of workers consider work-life balance while choosing a new job, and 57% state not having it is the deal breaker. Employees need to have a work-life balance to reach their full potential, increase productivity and achieve organizational goals. Flexible work hours, or having the opportunity to work remotely will help your employees maintain their professional and personal lives. You can offer paid vacation, maternity and paternity leaves, sick leaves, etc. to offer a better work-life balance for your employees as well.
