Expectancy Theory

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The Importance of Setting Goals

The goal is something set on a long-term basis and is not correspondent to vision but is intermittent to vision and objectives. The target can either be long term or short term. People and organizations set goals to get a clear path of what needs to achieved and give guidelines on how companies need to proceed and in what pace.

Significance of Setting Goals

The setting goals usually take place for a defined period. This help to create pressure on management and employees either directly or indirectly (Kotlar, Massis, Wright, & Frattini, 2018). The administration has clarity in its growth rate and will progress accordingly whereas the workers are aware of where the activities will lead them. They are in a position to measure their performance against a set metric which in turn help them to get better rewards and earn them proper recognition.

Milestones and Objectives

The goal is met by setting milestones and objectives. Staffs should be in a position of setting objectives which when achieved will lead them toward the path of the goal. Employees need to be motivated and also requires recognition for their work done. Therefore, motivation is a critical tool which can act as a driving factor for workers to achieve their goal.

Theory of Expectancy

The theory of expectancy talks about the mental procedures of a person regarding choice, or choosing (Purvis, Zagenczyk, & McCray, 2015). It discusses the method in which a person can undergo to make decisions. Moreover, the theory underlines the reasons business needs to relate rewards directly to performance. It explains about, what employee expect from their own hardworking about good performance. Part of expectations is the level of difficulties a staff experience. A accompany can respond to experiences by finding out which factors can motivate the perforce of the employee.

Expectancy Theory

Expectancy theory= expectancy × instrumentality × valence= motivational force.

Rewarding Efforts

This indicates that more efforts from staffs will lead to better performance and should be stimulated by offering rewards after completing their task correctly.

Recognition and Promotion

For example, a company where employees come as and when they like in a very random manner. The staffs lack interest in their job and are still associated with the firm due to various policies that support the labor. To make this employee work a company should recognize their basic needs and tie them with rewards.

For example, in my case, it took my BA 27 credits every semester while working full time and after finishing BA under three years I was promoted to the manager once I've completed my degree to oversee a team of 27 in the banking industry. In this case, I was considered the best employee because of working on time and meet the daily targets. Additionally, if an employee works hard to achieve the objectives of a company he or she is rewarded with a promotion.

References

Kotlar, J., De Massis, A., Wright, M., & Frattini, F. (2018). Organizational goals: antecedents, formation processes and implications for firm behavior and performance. International Journal of Management Reviews, 20, S3-S18.

Purvis, R. L., Zagenczyk, T. J., & McCray, G. E. (2015). What's in it for me? Using expectancy theory and climate to explain stakeholder participation, its direction, and intensity. International Journal of Project Management, 33(1), 3-14.

January 19, 2024
Category:

Business Economics

Subcategory:

Corporations

Subject area:

Company

Number of pages

2

Number of words

548

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