Does Age impact Need Priorities?-Maslowian Perspective in an Industrial Set-Up

Warren Buffet couldn't have expressed it better, when he said that "I do know that when I am 60, I should be attempting to achieve different personal goals than those which had priority at age 20". This simplistic statement belies the significance of age and need priorities. Many industries in India, especially, the Public Sector Enterprise have an issue with the motivational level of its ageing employees besides other issues like knowledge management and transfer, etc. 'To what extent, the age of an employee affects his need priorities' would be a pertinent question to be answered in revisiting motivational strategies of an employee group. Thus, authors have delved into the issue and tried to find answers through empirical study. It is found that all the five needs in Maslow's need hierarchy have a reducing trend in while proceeding from a lower age group (21-30 years) to higher age group (51-60 years). The path and scale of reduction and the speed of dwindling of needs may be different for different needs. In this study, various other interesting and pertinent results have been found. In all age-groups except in the age group 31-40 years, Safety need is the dominant need of the highest number of employees. In the age group 31-40 years, belongingness need is the dominant need. It is also found that self-actualization need is the dominant need amongst the highest percentage of employees (27%) in youngest age group of 21-30 years. Self-actualization need is the lowest in the age group 31-40 years. This, in a way establishes that the younger generation of employees wants more meaningful and satisfying jobs and wishes to contribute to a higher purpose rather than just making money and going about their jobs mechanically. Isn't this a sign of a global and modern India.