Business: why people work

Money
To pay for necessities and luxuries.

Security
Know that your job and pay are safe.

Social needs (affiliation)
Feeling part of a group or organization, meeting people, making friends.

Esteem needs (self-importance)
Feeling important, feeling that the job you do is important.

Job satisfaction
Enjoyment is derived from feeling that you have done a good job.

Benefits of a well-motivated workforce:
a well-motivated workforce is motivated to work effectively which will in turn profits (high productivity).

·High output per worker
Keep costs low and increase profits.

·Willing to accept change
New methods of working.

·Two – way communication with management
Suggestions for improving quality.

·Low labour turnover – loyal workforce
Reduces cost of recruiting workers who leave.

·Low rates of absenteeism
Reducing the disruption caused by absence from work.

·Low rates of strike action
Avoiding damage to customer relations.

Maslow’s hierarchy of Needs