I am an Indian writing this blog. Hence this is MY Indian perspective on some popular theories that govern our lives today.
Generations in India
I have herein tried to broadly classify India into different generations. Prior to the sunset of the British rule in India which ‘politically’ ended in 1947, India had a generation that lived in kingdoms, Independent in their lives, but governed by the British. This class has seen poverty being magnified day by day, people struggling to earn their square meal, still forced to pay taxes and a society ridden by caste. There was also an affluent minority that was limited to kings and their nobles.
Post British rule, India has seen many generations in a span of 60 years. Life has changed globally as well as in India at a pace that each passing year seems to belong to a different generation. For the sake of convenience, let me again indulge in a classification exercise the result of which is detailed below,
- those in their teens at the time of India’s birth,
- those born with India, and
- those born in the 70’s, the notorious financial emergency defines this generation,
- those born during mid 80s, the assassination of Indira Gandhi and the economic awakening characterize this Indian generation.
Each of the above group has distinct characteristics and it can be argued that the characteristics are a result of the time and the place they were brought up in. A lot also depends on the generation of their guardians.
In this article, I present my analysis of the 3rd category mentioned above, i.e. the post 70s generation. This generation, brought up during the financial emergency, had their first memories aligned to the new experience that was to dominate Indian economy in the years to come – the information technology industry. Some characteristics, I have observed defining this generation is listed below.
- Ambition
- Thirst for action
- Confidence
- Risk taking
- Restless
- Impulsive
A section of this generation, predominantly from the influential Indian middle class, went on to choose their careers in the booming IT industry. Competition among players in the IT sector led to a redefinition of compensation packages provided to employees. Recruitment and retention drives acquired levels of aggressiveness never experienced earlier. Weary of falling way behind the IT sector, other industries also started focusing on talent acquisition thereby increasing compensation scales across industries. Opening up of Indian economy triggered a never-seen-before growth in the industrial and services sector and soon India became the 2nd fastest growing economy behind China. The average per-capita salaries started growing at a pace that would beat the rickshaw meters in the densest IT city in the world – Bangalore. The Forbes list has a big contingent of Indians in the top 50 richest.
The growing economy in synergy with the characteristics of this generation created a platform for development of a perfect market ecosystem that developed around it.
Maslow’s Motivation Theory – Hierarchy of Needs
Maslow suggested that the individual needs follow a hierarchy. The need hierarchy of an individual starts from physiological needs (food, water, and other basic necessities)On satisfying his basic needs, he tries to satisfy his safety needs. Safety here includes security of his body, employment, morality, property etc. Once he satisfies these, his need then elevates into the next level which is his social needs. Here he tries to attain social respect, improve his social circle, family etc. Next in the need hierarchy is esteem. In this stage he strives to achieve self-esteem, confidence, achievement, respect etc. All the above needs are categorized as deficiency needs. The top most in the pyramid of needs is the self-actualization need. Here a human being realizes his maximum potential and starts objectively accepting facts. This is the pinnacle of one’s achievements.
Want into Need
Do I need all I have? Do I have all I need?
The truth is that today we convert a want into a need.
I was observing the way the younger generation today satisfy their needs. I am hungry. I go to a restaurant and order for a sumptuous and rich Andhra meals. This comes with ghee, a large contingent of side dishes, spicy pickles sweets etc. And all I end up eating is the curd rice available as a course of meal. The rest is just what I ‘wanted’ whereas the curd rice is what I needed.
I want a Maruti Swift and all I need is a Maruti 800. I justify my want for a Swift and convert that want into a need.
Human beings these days satisfy their wants when they buy and their needs when they consume. A generation prior to mine would have had a need and bought what he needed, at best, if he were unable to argue and beat this need.
Recent Financial Crisis and why it can Reinstates Maslow’s theory
The recent financial crisis has reinstated the theory Maslow brought out in 1942. Today’s generation, which calls itself Gen Y or the next generation has initiated this trend (I am an active member of Gen Y crowd). One important attribute that Maslow missed out in his theory of needs is “perceived need satisfaction”. Many of us try to satisfy our social and esteem needs. Going by Maslow’s need hierarchy, we would have already achieved the physiological and safety needs. And if you look at our lifestyle today, most of us will have a house to live in, a car to drive, confused with the abundance of food, not sure which dress to wear and which closet to pick it from, not sure which job to stick to, etc. But have we really satisfied these needs of ours? The recent financial crisis has exposed lot of realities and answered many of these questions.
Yes, we have houses and cars, for which banks pay the cost upfront. In effect we own the loans rather than the assets. Ownership of these assets are attained only after years of repayment of bank loans. We pamper ourselves with food of our choice, but pay food bills with our credit card. Here, again, the bank pays for it and we take up additional obligation to the bank. In effect, we still don’t earn our food for the day. Yes, we have jobs and plenty of those, but a financial crisis suddenly makes us feel that we were traversing a desert and we have just seen an oasis pass by.
This is where our “perceived need satisfaction” takes over the real need satisfaction. I perceive that I have attained all the physiological needs and the security needs and am now thriving for the higher levels. I will believe this till the reality strikes.
Positive
We have all through these years proven to be one of the most adaptable generations. We have adapted to the rapid changes the society has undergone. We grew with the cable TV changing the way we saw the world, we grew with mobile taking over the way we reach out to people, we grew with internet transforming the way we connect, and we grew with credit cards altering the way we shop.
This crisis is going to transform the way we live. It is going to reinstate the need hierarchy; it is going to bring out new models of employment. We all need to take this as an opportunity to adjust and learn to live a life, a life that would follow all the necessary hierarchies life has defined for us.
