Goal Setting Dr. Jeanne Michalski [email protected] GOAL SETTING In a wide variety of industries: With a wide variety of people: Those who set goals consistently outperformed those who did not -- By a Significant Margin!! Goal Setting Research projects have established that: •Less than 3% of the population have identified specific personal or business goals •Only approximately 1% of the population put goals in writing. People don’t plan to fail They simply fail to plan!! Goal Specifications There are two types of goals: poorly defined and well defined. To obtain good results, having well defined goals is a must. Poorly defined goals: Stated in terms such as improve or increase. Not achievable or no target dates. Ambiguous in regard to what is expected. Goal Specifications Poorly defined goals... Theoretical and idealistic. Too brief and indefinite. Too long and complex. Distress producing and conflicting. Created without sincere self analysis Goal Specification Well defined goals are: Stated numerically in terms of end results. Achievable at a specific time. Comprised of definite expectations. Challengingly high but practical. Precisely stated. Thoughtfully engaged. Goal Specification Make more money than last year. I will net $5,000 more than I did last year, which is the equivalent of a 10% increase. Lose weight. I will lose 12 pounds within the next 12 weeks, while at the same time exercise to improve my overall body muscle and skin tone. Become better at my job. I will request feedback on my performance, from my boss, every month and act on his/her feedback to improve my performance . I will attend at least 2 educational seminars to expand my skills. Goal Setting Basics 1. 2. 3. 4. Specific Challenging Achievable Participatively set “SMART” Goals Specific, Measurable, Attainable, Realistic, Time Set interim or subgoals. Use action verbs. Specific dates, times, and amounts. GOAL SETTING If possible have your employees set their own goals Hard goals are better than easy ones Goals can be revised as needed Writing down goals increases the probability they will be accomplished Sharing goals with others demonstrates our commitment to achieve them Participation No one knows the job better than those who do it. Workers are more likely to accept the goals with input. Employee Employee High Low Management High Participation Unilateral Management Low Empowered / Self Managed No Goals Why Do Goals Motivate? Why Do Goals Motivate? Focus attention of the employee Prolong persistence Provide challenge – competition Intrinsic and extrinsic rewards When goals are achieved: Positive affect Job satisfaction Self-efficacy Organizational recognition and rewards Expectancy Theory Motivation = E X I X V Expectancy: The connection between behavior and the outcome Instrumentality: The connection between outcome and a reward Valence: Is the reward something that the individual values? People are motivated by intrinsic and extrinsic rewards they desire. People will only be motivated if outcome is possible. People will only be motivated if outcome is contingent on behavior. People will only be motivated if a reward is attached to the outcome. “Line of sight” is the perceived link between individual behavior and the reward. Goal Challenge and Performance High Note: Not to scale Performance Low Performance Easy Moderately Difficult Extremely Difficult GOAL SETTING Setting challenging goals creates fear of failure… …setting no goals guarantees it!!