Application of Maslow’s Hierarchy of needs to an organizational context
Bank of Ceylon -which considered as the banker to the Nation and the leader in commercial banking sector in Sri Lanka tend to be provide host of facilities to its employees to create a keen interest towards the organization and to increase the retention and ultimately to improve the Organizational productivity through Employee satisfaction.
Out of the 05 needs explained by Maslow, employees are expecting Love, Affection, Belonginess. Esteem needs & Security needs from their working organization. Bank of Ceylon facilitating its lower and middle level employees with following which are come under Employee Benefits, to fulfill Security Needs. “Employee benefits are elements of remuneration given in addition to the various forms of cash pay. They also include items that are not strictly remuneration, such as annual holidays”.
• Ontime salary and bonuses: provide an attractive and competitive total remuneration package which both attracts and retains high-quality employees.
• Personal security: these are benefits which enhance the individual’s personal and family security with regard to illness, health, accident or life insurance.
• Pension schemes: these are generally regarded as the most important employee benefit.
The reasons for having a worthwhile pension scheme are that it:
-demonstrates that the organization is a good employer.
-attracts and retains high-quality people by helping to maintain competitive levels of total remuneration.
-indicates that the organization is concerned about the long-term interests of its employees.
• Financial assistance: loans, house purchase schemes, relocation assistance.
• Personal needs: entitlements which recognize the interface between work and domestic needs or responsibilities, e.g. holidays and other forms of leave, child care, career breaks, retirement counselling, financial counselling and personal counselling in times of crisis, fitness and recreational facilities.
• Promotions:
- Promotion vacancies are notified in the HR department.
-Vacancies are advertised internally.
- Departmental managers should not allowed to refuse promotions transfers.
• credit card facilities
• Intangible benefits: characteristics of the organization which contribute to the quality of working life and make it an attractive and worthwhile place in which to be employed.
• Positive organizational culture
• Overtime payments– most manual workers are eligible for paid overtime as well as many staff employees up to management level
Love. Affection and Belonginess needs
PROVISION OF EMPLOYEE WELFARE SERVICES
It seems obvious that the HR department provide employee welfare services. Inevitably, HR staff will be dealing with cases and providing advice because they are in constant contact with employees and may be seen to be disinterested. It is to be hoped that they will also have some expertise in counselling.
They are very close enough to each member of their team to be aware of any personal problems affecting their work
INTERNAL COUNSELLING SERVICES: Internal counselling services provided by full-time staff or volunteers
WORK-LIFE BALANCE:
providing scope for employees to balance what they do at work with the responsibilities and interests they have outside work .
These are providing By the Bank of Ceylon for the fulfillment of following.
• improved productivity and quality of work;
• improved commitment and morale;
• reduced staff turnover;
• reduced casual absence;
• improved utilization of new recruits
• provide for the personal needs of employees;
• increase the commitment of employees to the organization;
ESTEEM NEEDS-
To meet the needs of “Esteem needs “Bank of Ceylon gives followings to the Top ranked employees as a tool of recognition and motivation.
• Different forms of health Insurance Packages
• Separate Cafeteria area reserved
• Special Vacation plans
• Packages from 5-star hotels
• Luxurious Vehicles
References:
American Banker (2018) what banks can learn from Maslow’s hierarchy of needs, [online]Available from https://www.americanbanker.com/opinion/what -banks-can-learn-from-maslows-hierarchy-of-needs [Accessed 05 September 2018].
Armstrong, M. (2006) A Hand book of Human Resource Management Practice.10th edition. Philadelphia: Kogan Page.
Avneet ,K.((2013) Maslow’s Need Hierarchy Theory: Applications and Criticisms. Global Journal of Management and Business Studies,3(2248-9878) 1061-1064.
Hoy, W. & Miskel, C. (2008) Educational Administration: Theory Research and practice. New York: McGraw-Hill.
Jerome, N. (2013)’Application of the Maslow’s hierarchy of need theory; impacts and implications on organizational culture, human resource and employee’ performance’. International Journal of Business and Management Invention 2013: Department of Economics Taraba State University Jailing, Nigeria 2 (3) pp.39-45.
the blog critically evaluates the importance of motivating employees in an organization to reach its goals and objectives. and successfully applied the theory of Maslow's hierarchy of needs to identify common needs of a human being in a human resource management perspective.by understanding certain needs of individuals by applying the theory the management of the firm tends to motivate their employees by both extrinsic and intrinsic factors (Kian and Yusoff, 2015).
ReplyDeleteHowever the blog successfully explains comprehensive facts which is relevant to the title
It is possible to achieve employee motivation by both Intrinsic and Extrinsic means.Hence its vital that the "psychological mechanism that triggers the anticipation, direction, and persistence of voluntary actions," that is, encouragement, provided considerable emphasis throughout an employee's work cycle (Mitchell, 1982, p.81 cited in Ramlall, 2004).
DeleteHi Niroshini, your blog on Maslow’s hierarchy of needs is interesting and it provides a range of practical examples as well. Identifying and understanding these various needs of the employees is very important for any organizations.Maslow’s hierarchy of needs model helps organizations especially leaders to understand better how to create workplace conditions to satisfy the needs of the employees (Mustafa, 1992).
ReplyDeleteThank you Dinuka,Yes It is an important theory which gives a clear idea on the requirements of an employee from the starting point till the end.As we have discussed, the original hierarchy states that a lower level must be completely satisfied and fulfilled before moving onto a higher pursuit(Maslow,1954).
DeleteNiroshani you have applied Maslow’s theory to your bank and have well explained the various employee benefits offered by Bank of Ceylon. The analysis of Nurullah (2014) has identified that lower-level motivational needs should be satisfied before moving up to the higher level of needs as it is indicated by Maslow’s Hierarchy of need theory. The employees of public and private banks follow this motivational model without any difference.
ReplyDeleteThank you Berni,Yes I agree with you.Maslow (1954) believed that these needs are inherent, innate and universal in nature. Also, for him, human beings are not motivated by all five needs at the same time. Rather only one need is paramount at any given moment. Lastly in the context of the hierarchy, only after fulfilling the lower-order needs (physiological, safety and social needs) can the individual move on to the higher-order needs (esteem and self-actualization).Therefore I have applied that to the Banking industry .
DeleteHi, in your blog you have linked the banking sector with the Maslow’s hierarchy of needs. As you have expressed too, different employee levels of a bank will use this Maslow’s hierarchy accordingly. Employee benefits also play a major role with these needs, but the organization environment needs to have a proper environment for the employees as well: unless these employees will not get motivated. According to Jerome (2013), the organization should create a better work environment to achieve targets: to achieve target employees need to be motivated. Therefore directly or indirectly the motivation of an employee is depends with the condition of the working environment.
ReplyDeleteThe results may be significant if financial institutions focus on helping employees feel engaged and a part of something important. People who feel like they belong are usually more content. If people are happier they are more likely to be excited about doing their work and extending the positive feeling to others, including customers.
DeleteIn your context there are no chance to satisfy our need in general since all employees cant be a Manager and as all employees looking to be a manager. Then as stated all peoples' expectations not satisfied as maslow stated.
ReplyDeleteAccording the results of the research managers from
higher echelons of organisations are able to satisfy both their growth and deficiency
needs lower level managers are able to satisfy only their deficiency needs on the job.
Maslow’s theory has not received a great deal of support with respect to specific notion it proposes (Greenberg &Baron 2003, p195).
Happy people are also less likely to leave for another job. Generally speaking, the longer employees stay at their jobs, the more they improve(American banker,2016).
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