The expectancy theory, which is Vroom’s formula, states that Motivation = Expectancy × Valence. Motivation depends on how much people want something and how likely they are to get it. Expectancy and valence are two important variables in Victor Vroom’s formula that must be met for motivation to take place.

Expectancy refers to the person’s perception of his or her ability (probability) to accomplish an objective. Generally, the higher one’s expectancy, the better the chance for motivation. When employees do not believe that they can accomplish objectives, they will not be motivated to try.

Also important is the perception of the relationship between performance and the outcome or reward. Generally, the higher one’s expectancy of the outcome or reward, the better the chance for motivation. This is called instrumentality. If employees are certain to get a reward or to be successful, they probably will be motivated. When not sure, employees may not be motivated.

Valence refers to the value a person places on the outcome or reward. Generally, the higher the value (importance) of the outcome or reward, the better the chance of motivation.