Advantages of Goal Setting Theory
Goal setting theory is a technique used to raise incentives for employees to complete work quickly and effectively.
Goal setting leads to better performance by increasing motivation and efforts.
Limitations of Goal Setting Theory
- Goals conflict
- Very difficult and complex goals stimulate riskier behavior
- Failing a goal
- No evidence of theory .
Features of goal-setting theory are as follows:
- Specific and clear goals lead to greater output and better performance.
- Realistic and challenging.
- Employees’ participation in goal is not always desirable
Goal setting theory has certain eventualities such as:
- Self-efficiency- is the individual’s self-confidence and faith that he has potential of performing the task.
- Goal commitment- the individual is committed to the goal and will not leave the goal.
The goal commitment is dependent on the following factors:
Goals are made open, known and broadcasted.
Goals should be set-self by individual rather than designated.
Equity theory
The core of the equity theory is the principle of balance or equity.
While evaluating fairness, employee compares the job input (in terms of contribution) to outcome (in terms of compensation) and also compares the same with that of another peer of equal cadre/category.
Assumption:
• The theory demonstrates that the individuals are concerned both with their own rewards and also with what others get in their comparison.
• Employees expect a fair and equitable return for their contribution to their jobs.
• Employees decide what their equitable return should be after comparing their inputs and outcomes with those of their colleagues.
• Employees who perceive themselves as being in an inequitable scenario will attempt to reduce the inequity either by distorting inputs and/or outcomes psychologically
| Ratio Comparisons | Perception | Situation of an Employee |
| Individual’s outcome/Individual’s input < Other’s outcome/Other’s input | Inequity | Anger |
| Individual’s outcome/Individual’s input = Other’s outcome/Other’s input | Equity | Satisfied |
| Individual’s outcome/Individual’s input < Other’s outcome/Other’s input | Inequity | Pride, Over confidence and Guilt |
Vroom expectancy theory
Vroom stresses and focuses on outcomes, and not on needs unlike Maslow and Herzberg.
The theory states that the intensity of a tendency to perform in a particular manner is dependent on the intensity of an expectation that the performance will be followed by a definite outcome and on the appeal of the outcome to the individual.
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Valence is the significance associated by an individual about the expected outcome.
Expectancy is the faith that better efforts will result in better performance.
Instrumentality is the faith that if you perform well, then a valid outcome will be there.
Theory concentrates on the following three relationships:
Effort-performance relationship: What is the likelihood that the individual’s effort be recognized in his performance appraisal?
Performance-reward relationship: It talks about the extent to which the employee believes that getting a good performance appraisal leads to organizational rewards.
Rewards-personal goals relationship: It is all about the attractiveness or appeal of the potential reward to the individual.
Effort-> Performance -> Rewards
Will my effort improve my performance?
Will performance lead to rewards?
Will reward satisfy my individual goals?
Vroom expectancy theory
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