By Jeff Damulira
Maslow Theory in correlation with organizational factors
Maslow's need hierarchy theory in an organizational setting is an psychological observation of different needs of members or employees within an organization. However, applying Maslow's need hierarchy can vary from different needs such as:
- Physiological ( food, water, sleep)
- Safety( security, stability, protection)
-Esteem( self-esteem, self-respect, prestige, status)
-Self actualization( advancement, growth and creativity)
And these factors can correlate with pleasant working condition, financial gratification, cohesive work group, friendly supervision, social recognition and advancement in the organization. For example, rewarding people with better pay or financial bonus can increase their possibility to have more food on the table; especially, if their living cost has increased. Another example of an CEO who has fulfilled the basic needs for his employee of his company is Dan Price. Dan Price has fulfilled every factor of Maslow's hierarchy theory in fulfilling every needs of people within an organization. Dan Price decided to cut a percentage of his own salary by increasing his employee's salary to $70,000. Therefore, the employees from his organization has been extremely elated since they have more money to provide more food for their family and having a better sleep at night. Moreover, the employees will feel little bit of financial stability, since their wage would last longer. Additionally, they will feel a boost of prestige and status from a huge acknowledgment and recognition by an awesome boss such as Dan Price. Furthermore, there was an huge financial karma within the company such as making record breaking profits; prior to the previous yearly revenue. Dan Price who has fulfilled the basic needs of his employees has created an positive karma all throughout the company. The employees even decided to buy his dream car such as Tesla with an acknowledgment by his employees. By Dan Price increasing his ability to fulfil the needs of his employees to a higher levels has increased a higher levels of good karma in return.