Goal Setting Advantage – Legend Or Logic? Part 2 of 4


Copyright (c) 2008 GainMore Advantage

In this article, we consider the goal-setting process and support for the concept of SMART goals.

Part 1 of this article considered the myth of the Yale study on goal setting and we discussed what a goal is and if it is necessary to have one.

Perhaps it’s not really about knowing your goal but about the goal-setting process. After all, few people who find themselves staring at a computer screen all day answering emails to earn a buck are likely to have decided this as their career goal.

What is goal setting? Inadvertently, or deliberately, people asking us when young “what do you want to be…” have set us on a process of goal-setting. They are asking us to peer in our mind’s eye into the distant future and describe our goal. With little worldly experience, we most likely think of people we admire that through their job demonstrate what is valuable to our young minds.

What would you like to achieve in X years that having achieved it will satisfy your personal values? Would you ask a ten year old that question? No? It’s unlikely that they would understand – but with the massive leaps in education and increasing pressure on children to know a whole lot more than the current generation of mature adults, they may well be asking you that question and be surprised if you can’t answer it. I digress, but we are effectively asking that when we say “what would you like to be…”

Goal-setting is a process by which we choose our intended result, decide what we want to achieve in the longer-term AND determine HOW we are going to attain the goal (i.e., the strategy). Therein lies the problem for many people in regard to goal-setting… the process necessarily includes the strategy to achieve the goal. When relatives with kind intentions ask “what do you want to be…” the strategy they advise to achieve whatever you said, invariably refers back to the need to study hard, be a good child, don’t answer back and above all… “eat your greens!” As you get older, the advice may become more specific and even, more useful. You begin to discover which areas of knowledge and skill you most enjoy and are better equipped to clarify your personal goal as you become increasingly aware of what is important to you. Goal-setting for your career, life and business is strongly advocated and endorsed in hundreds of books and papers and articles. Most emphasise the importance of writing your goals down as part of the goal-setting process.

Is goal-setting important?

Ask almost anyone about the importance of goal-setting and they will affirm that it is incredibly important. Here is a small selection of verbatim responses to the question “How important is goal-setting?” “The difference between successful people [and people struggling] is the setting of tangible and measurable goals.” “I believe goal setting does work and needs to be written down. ” “If there are no set goals, things either happen, or they don’t.” “With measurable goals you are in action to fulfill them” “… there’s no excuse for failing to progress if you don’t take ownership of your own goals” “Setting yourself some goals is always going to be effective” “I have been setting goals for myself for over 10 years. I believe that the goals enable me to achieve the things that I want” “People who are successful tend to be the same sort that write down goals” So there seems to be consensus that goal-setting is important, yet there is some evidence to support it, yet, as we shall see, from research undertaken for this study, having written the goal down is perhaps not the most important concern. What we will see is that the process of goal-setting is perhaps more important than the goal itself! There is some strong support for the concept of SMART goals. Goals that are Specific and Stretching, Measurable, Attainable, Realistic and Time-bound. There’s a great deal of common sense reasoning that supports the idea of SMART goals – and there’s some excellent robust research.

Why set goals?

Edwin Lock and Gary Latham have undertaken a great deal of leading research about goals and goal-setting and neatly suggest that setting goals implies dissatisfaction with the current condition and a desire to attain an outcome Locke and Latham, 2006.

Why Specific and Stretching?

In Locke and Latham’s 2006 study and previous articles, there is an emphasis on the positive relationship between goal difficulty and performance. Locke and Latham, 1990; Locke and Latham, 2002. That is, the more difficult the goal is to achieve, the higher the level of performance is manifest – allbeit moderated by commitment to the goal. Earlier studies had already identified that specific and difficult goals led to greater performance than easy and/or vague goals Latham and Lee, 1986

Commitment to achieving a goal – Attainable and Realistic

Hollenbeck and Klein, 1987 suggest that an individual’s commitment to a goal (building on Locke’s research and many others) is dependent on a combination of the expectancy that the individual has of achieving success, and the difficulty of achieving the goal. In the commonly used nemonic, SMART goals, this is usually considered as the ‘AR’ of SMART – Attainable and Realistic. Though Hollenbeck and Klein help point out that when we set a goal, it may well seem that the goal is attainable – I can do everything that I need to do to achieve this and am prepared for the cost in time, effort, etc. – and it may well seem to be realistic – Given the resources that I have and the current environment, this goal can be practically achieved.

Measurable and Time-bound?

I don’t think it would be possible to undertake research on something that had no measure nor a time restriction – how would you know that you had achieved success if there was no measure, and if there is no time limit, when would you stop measuring or even not measuring. So these remain ‘common sense’ though a post-modernist might disagree.

So there is support for the concept of SMART goals – now why is it so important that we ‘write’ them down?

There are some who suggest that writing something down increases commitment to the goal but the evidence is anecdotal. For some individuals, the act of writing something down assists clarity through a conscious process because they consider something written to be a personal commitment. Does that mean it is true for everyone? To help answer this, we undertook primary research to mirror the mythical Yale Study. Through a simple questionnaire, respondents were asked if they had set goals for themself on leaving school, college or university, when this was and if they had written it down. They were then asked to estimate their total personal wealth now. The results are quite shocking.

More in Part 3

Find out more about goal setting and making a success of your life, visit us at GainMore Golf or GainMore Leadership

Goal Setting Advantage – Legend Or Logic? Part 4 of 4


Copyright (c) 2008 GainMore Advantage

In the first three parts of this series we have looked at goal setting, the process and the real research behind this to find out what makes a difference.

It seems that there is considerable support for the idea of SMART goals, yet there are still some issues with what the goal is. Is it an outcome or about performance?

Outcome goals – some issues

The problem facing many people with regard to ‘Outcome’ goals is that there is an element that is outside the power of the individual. An example of the potential issues with an ‘outcome’ goal comes from a rather sad testimony from one particular research participant:

“My goal was to have $3 million in the bank for my retirement by age 55. I achieved my goal with great satisfaction early at age 43. Unfortunately my bank was at the centre of a fraud and went under. 16 years later, I am still working and slowly rebuilding my goal. So, goals are important and we need to know what we want to achieve in life – just choose a goal only including yourself and don’t leave all of it in one place.”

Outcome goals are most often subject to others and to the environment. The greater the attainability of a goal through yourself only – I.e. Your own performance – the more you are in control of goal achievement.

Goals that have a high dependence on others and/or external circumstances are considerably more difficult to influence. As an extreme example, one survey participant has goal to win the lottery! Now there are certain things that you can do to increase the likelihood of this becoming reality, buying tickets is a useful component, but how many? Interestingly, another participant who had a ‘money’ goal did indeed achieve their goal – through winning the lottery! Though that wasn’t the original plan and they rated themselves ‘somewhat satisfied’ in having completely achieved their goal. Whilst touching on monetary goals, another participant reminds us that being specific about your goal is important:

“My goal was to be a millionaire by 35… I achieved it the moment I stepped away from the foreign exchange counter at Jakarta airport!”

Following up with our survey participants revealed commonality in the way they went about setting goals and their subsequent actions to achieve their goals. We’ve already seen how those with the greatest success in terms of personal wealth had SMART goals. This isn’t to say that success can only be measured by means of personal wealth at all – the original intention was simply to test the mythical Yale Study results. And, of course, someone could have set themselves a perfectly good SMART goal – but due to their own environment, had not accumulated as much personal wealth in terms of a standard currency – indeed, a person could have less in terms of monetary wealth yet be considerably better off in terms of the value they can obtain from less money.

Performance goals

An interesting aspect that began to show itself through the results was personal satisfaction in goal achievement.

People who set ‘Ability’ type goals, or ‘Performance’ goals reported to be ‘very satisfied’ with their achievements – whether completely achieved goals or not yet complete.

In part, this suggests the importance of personal values and suggests a question about the process by which they set goals. Through a random selection of fifty respondents we found that there is some commonality in the manner in which goals are set:

When we compare the groups of ‘Very Satisfied’ with their achievement and ‘Satisfied’ or ‘Somewhat Satisfied’ with their achievement. The first group were more likely to have SMART goals. The goal is described in sensory terms – what will be seen, heard and felt, and for a small number, smelt and tasted. Respondents were clear about what achieving the goal will do positively for them and the cost to themselves (and others) of achieving their goal. Their goal, they considered personally stretching yet ‘knew’ that they were capable of achieving it themselves.

More than 60% stated their goal in the present tense – ‘I am’ rather than ‘I will be’. This provides a template for a useful goal-setting process that we’ve turned into an easy-to-remember acronym: SWING.

Goal setting process

1. A SMART and Sensory performance goal.

2. What will I positively Win and lose.

3. Am I In control of achieving this goal?

4. Stated as Now.

5. Guarantee – this is an added psychological process to ensure personal motivation towards achieving the goal.

Final thoughts

From our survey, those individuals who set performance goals using slight variations of this process represent a small, though statistically significant fraction of the sample that have a net higher annualised personal wealth accumulation (2.15 times) and are more satisfied than individuals who use only one or two aspects of this process. It is not the writing down of the goal that makes the difference, it seems to be the emphasis on performance or ability and the process of thinking through the goal.

And for those of you, like me, who just didn’t get round to setting goals way back and worry that you might have missed out – well you can’t go back and revise history, but you can create a new one now.

Bibliography

Hollenbeck, John R. and Howard Klein, J. (1987), ‘Goal Commitment and the Goal-Setting Process: Problems, Prospects, and Proposals for Future Research’, Journal of Applied Psychology, 72 (2), 212-20.

Loche, Edwin P. (ed.) (1986), Goal setting, Generalizating from Laboratory to Field Settings, Lexington, MA: Lexington Books) 101-17.

Locke, Edwin A. and Gary P. Latham (1990), A theory of goal setting and task performance, (Englewood Cliffs, NJ: Prentice-Hall).

Locke, Edwin A. and GaryP. Latham (2006), ‘New directions in goal-setting theory’, Current Directions in Psychological Science, 15 (5), 265-68.

Locke, Edwin A. and G.P. Latham (2002), ‘Building a practically useful theory of goal-setting and task motivation’, American Psychologist, 57 (9), 705-17.

Find out more about goal setting and making a success of your life, visit us at GainMore Golf or GainMore Leadership