From Longman Business Dictionary
expectancyex·pec·tan·cy /ɪkˈspektənsi/ noun [uncountableU] HUMAN RESOURCES the amount of effort an employee believes will be necessary to do his or her job. Expectancy is important to managers because, by knowing about it, they know what they have to do to make their employees want to work harderExpectancy theories of motivation are based on the premise that people are motivated by the expected outcomes of their actions.
→ see also life expectancy