Vandana Ahuja points to her post Are happy employees more productive or are productive employees more happy? and asks:"what increases an employee's longevity in an organisation...his happiness in the organisation or his level of productivity?"
Rather than Maslow's model I believe in Herzberg's model of hygiene factors and motivators, and (this is important !) that if any motivator becomes ubiquitous it moves to being a hygiene factor.
That is, if it is present, no one really notices it, but if it is absent, everyone notices it and complains about it ! Like transport facilities for BPO employees or Gyms in IT services companies.
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