Goal setting works well for simple jobs -- clerks, typists, loggers, and technicians -- but not for complete jobs. Goal setting with jobs in which goals are not easily measured (e.g., teaching, nursing, engineering, accounting) has posed some problems.
Goal setting encourages game playing. Setting low goals to look good later is one game played by subordinates who do not want to be caught short. Managers play the game of setting an initial goal that is generally not achievable and then finding out how subordinates react.
Goal setting is used as another check on employees. It is a control device to monitor performance.
Goal accomplishment can become an obsession. In some situations, goal setters have become so obsessed with achieving their goals that they neglect other important areas of their jobs.
The positive effects of goal setting are sometimes only temporary (Ivancevich, 1995).
Goal setting seems easy, and a lot of people assume that they have the intuition and inherent skills to set and use goals to accomplish organizational goals; however, it has also been shown that training in specific goal-setting skills can be very effective. Therefore, the career planner should seek to establish goals according to goal specificity, goal difficulty and goal intensity as these factors apply to accomplishment of these goals (Locke, 1978). Locke defines these components of the goal-setting process as follows:
A.
Goal Specificity is the degree of quantitative precision (clarity) of the goal.
B.
Goal Difficulty is the degree of proficiency or the level of performance sought.
C.
Goal Intensity pertains to the process of setting the goal or of determining how to reach it (1978).
D.
Goal Commitment. According to Ivancevich, "To date, goal intensity has not been widely studied, although a related concept, goal commitment, has been considered in some studies. Goal commitment is the amount of effort used to achieve a goal" (1995, p. 111).
For a recent college graduate in search of an effective planning technique, goal setting provides a method that is responsive to individual needs as well as those of the organization involved. Goal-setting also provides some solid echniques for accomplishing goals. "Research has shown that specific goals lead to higher output than do vague goals such as 'Do your best'" (Locke, 1978, p. 38). Clearly, the results of goal setting as a motivational tool are overwhelmingly positive. The studies by Locke and others have shown time and again that setting specific goals has led to better performance than do value goals. In fact, in 99 out of 100 studies reviewed by Locke and others, specific goals provided better results (1978).
Saving
According to Needles and Powers (1998), in order for people to succeed in accomplishing their goals, they must be able to control their expenses and provide for savings. There are a number of approaches available for the young, middle-aged and older saver today that may be applicable depending on individual needs and circumstances. These alternatives are discussed further below.
Traditional IRA. According to Springstead and Wilson (2000), a traditional Individual Retirement Account (IRA) is a personal savings account that offers tax advantages to set aside funds for retirement. "Annual contributions of up to $2,000 are fully tax-deductible for workers not covered under employer-sponsored pensions, for single workers with earnings under $32,000, and for married workers filing jointly with earnings under $52,000" (p. 34). In addition, workers may make nondeductible or partially deductible contributions.
Investment earnings for all contributions accumulate tax-free and are not taxed until funds are distributed. The Taxpayer Relief Act of 1997 created Roth IRAs, which differ from traditional IRAs in that contributions are made with after-tax dollars but distributions are tax-free.
Roth IRA. According to Beech (1997), there are a number of options available when considering retirement plans, the new retirement plan option called Savings Incentive Match Plan for Employees (SIMPLE). A survey by Fidelity Investments, the nation's largest mutual fund company and a leading provider of financial services, found that fully 80% of small business owners believed it was important to help employees save for retirement, but only 35% of them currently offered an...
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