Human Resources Planning and Development >> Importance of Goal Setting in Company

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GOAL SETTING:

Explain the importance of goal setting theory?

Importance of goal setting theory:

Goal setting theory is basically related to the company’s needs and goals. Goal setting theory is basically applied in the organization to achieve the expectations of the company.

Goal setting theory is the process of forecasting an organization’s future demand for and supply of the right type of people in the right number. It includes managerial activities that set the company’s objectives for the future and determine the appropriate means for achieving those objectives.

Goal setting theory is variously called manpower planning, personnel planning or employment planning.

It helps to develop the organization plans. It helps to achieve the environment goals and organization’s mission and values.

1. Analyze in detail the recruitment requirements of a major company including legal requirements of the employer

Labor-market conditions in a local area of primary importance in recruiting for most non-managerial, supervisory and middle management positions. However, so far as recruitment for executive and professional positions is concerned, conditions of all India market are important.

Another external factor includes political and legal considerations. Reservations of jobs for SC’s, ST’s minorities and other backward classes are a political decision. There is a strong case for giving preference to these types of people which is an advantage to its company.

The company’s image also matters in attracting large numbers of job seekers.

Organizations must decide whether to hire less skilled employees and invest on training and education programmers or they can hire skilled labor and professionals. Essentially, this is the make or buys decision as per the requirement basis. Organization should guess about his needs as well as an employer needs to sustain in an environment.

The legal requirement of an employer can be the legal fees, cost and expenses, insurance policies health care benefits, Hospital facilities, free check up, motor goods facility, transport needs as well as accommodation is also a part. Like in TATA they provide their employers a flat accommodation and transport facility while travelling from home to office in the place called Jamshedpur. They also established a hospital that TATA MAIN HOSPITAL in Bistupur, Jamshedpur for their employees needs and for their family.

A final consideration is where the training and development program is to be conducted for achieving the goal setting theory by an organization. Actually the decision comes down to the following choices.

Training program includes proper planning, discussions, trainee’s trainer, methods and techniques, the subject, the problems and its solutions.

It is related to the concept of the job that how a new employee who is not experienced will do his job so training is must to become successful.

The organization should invest in training because it is beneficial for it.

Training and development is effective when they incorporate the following principles of learning.

Employee motivation, recognition of individual differences, practice opportunities, recognition of individual differences, practice opportunities, reinforcement, knowledge of results, goals, schedules of learning, meaning of materials and transfer of learning.

Learning is the main goal to give the training one should know his subject and be concern about it.

Goal setting theory talks about the level of performance which the employee shows in the organization. Goal setting theory is an indication of motivation and in goal setting theory, the goals should be realistic and challenging which helps in the participation of an employees in the target and in the goal. It creates and increases the level of participation. It increases the potential level in the employees as well it gives them with lot of responsibilities to complete and to achieve in the organization. It helps in the part of incentives which are given to employees. The working capabilities and the level of potential as well the willingness of the employees help in goal setting theory and the main advantage of this theory says that it increases the motivation and also the efforts of an individual within a group to achieve their targets and to become the most successful. It increases the performance and produce better outcome / results.

This theory helps in bringing the efficiency in the organization. The employees gets so motivated about the thing and the motivation factor also increases which develops the team building in achieving the target, company also can able to achieve its targets and fulfills its goals easily. Companies also announce some form of incentives and compensation for high performer employee so it creates a competition in the work environment which is better for the point of view company as well as employees.

The pure outcome with all the applied strategies comes from this theory which is a positive sign in the work environment. The people in the organization feel good about the company because the company has its defined process and steps to continue the work.