Beyond the Paycheck

Abstract

In a dynamic employment landscape, the classic determinants of job contentment and workforce engagement have become outdated. Contemporary employee expectations are shaped by significant societal transformations since World War II, the influence of Generation Z, and the indelible mark left by the COVID-19 pandemic on remote working conditions. Using Maslow's hierarchy of needs as a framework, this chapter delves deep into the evolving prerequisites of the modern-day workforce. Priorities have gradually shifted from basic security and stability concerns, synonymous with post-WWII sentiments, to an emphasis on advanced needs like belonging, esteem, and self-realization. The pressing need for adaptability in human resource management (HRM) strategies is highlighted and supported by research including 640 companies from Germany and Switzerland, emphasizing a more personalized approach attuned to individual employee needs amidst overarching societal changes.