Moslow's Need Hierarchy Theory is based on human needs; which are as follows:

(i) Basic Physiological Needs

(ii) Safety/Security Needs

(iii) Affiliation/Belonging Needs

(iv) Esteem Needs

(v) Self Actualisation Needs

Detailed Answer:

Maslow's Hierarchy of Human Needs: In order to motivate employees, management has to have knowledge of various types of human needs and the incentives which may be used to satisfy these needs. A.H. Maslow had classified all human needs into different categories. On the order of their priority, these were arranged by him. This arrangement is known as the Hierarchy of Needs.

(i) Physiological needs: These needs are essential for human survival which include need for food, air, shelter, water, sleep, etc.

(ii) Security or safety needs: These are the needs for physical safety as well as economic security which includes safety of person and property.

(iii) Social needs: These are needs for belongingness, friendship, love, affection, attention and social acceptance.

(iv) Esteem needs: Esteem needs of an employee refers to those needs, satisfaction of which leads to self-confidence and prestige. These needs include own self-respect, autonomy status/ recognition, etc.

(v) Self actualisation needs: This is the need to be what one is capable of becoming, when a person has realised his full potential, his perception of his own self has been transformed into reality.