Describe briefly Maslow's need hierarchy theory …

This theory was given by Abraham-Maslow. It is based on human needs. Maslow has explained his theory as a hierarchy of five needs which are depicted and explained below:

1. Basic Physiological Needs
   These are the basic needs, which a person is required to satisfy in order to survive. Hunger, thirst, shelter, sleep are some of the examples of these needs. In an organisation, basic salary helps to satisfy these needs.
2. Safety/Security Needs
   These needs are concerned with physical, economic and social security, in the form of job security, stability of income, etc.
3. Affiliation/Belongingness/Social Needs
   These needs are concerned with affection, sense of belongingness, acceptance and friendship. It is fulfilled when employees have cordial relations with colleagues.
4. Esteem Needs
   These needs include factors such as self-respect, status and recognition. When these needs are fulfilled through job title, it enhances self-confidence and prestige of employees.
5. Self-actualization Needs
   It is the highest level of need in the hierarchy. It arises after the satisfaction of all previously discussed needs. These needs include growth, self-fulfillment and achievement of goals.