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PROJECT TOPIC- IMPACT OF EMPLOYEE PERFORMANCE APPRAISAL ON THE ACHIEVEMENT OF ORGANIZATIONAL GOAL IN THE BANKING INDUSTRY (A CASE STUDY OF KEYSTONE BANK LTD)

 ROJECT TOPIC- IMPACT OF EMPLOYEE PERFORMANCE APPRAISAL ON THE ACHIEVEMENT OF ORGANIZATIONAL GOAL IN THE BANKING INDUSTRY (A CASE STUDY OF KEYSTONE BANK LTD)

ABSTRACT

Impact of Performance Appraisal on Employees’ Job Performance using Keystone Bank Limited as case study. The main objective of the study was to determine whether performance appraisal has any impact on job performance of employees and the extent of such impacts. In service industries e.g. Bank s, the service is fast, more efficient, and product are delivered on time leading to customer satisfaction and more profit are achieved. The researcher adopted the primary method of data collection through the use of structured questionnaire. Research show that performance appraisal has positive impact on employees’ job performance. Moreover, the respondents all agreed that the Behavioural Checklist and Scales Appraisal System was the best appraisal system to be adopted by an organization. Based on the-research findings, the researcher recommends among others that organization and employees must have a clear idea of where the organization is going and employees must
understand how their job contributes to the goals of the company. Besides, employees must be given the needed trainings to ensure they have the skills needed to perform their work. Finally, the researcher further recommends that supervisors must give feedback to employees about their performance on regular basis not just at formal appraisal times.

CHAPTER ONE
INTRODUCTION

1.1 BACKGROUND OF THE STUDY

Employee’s performance appraisal is one of the most critical functions of a leader/manager and is a basic expectation of anyone in a supervisory role. In many organization staff are being appraised to ascertain how much each person contributed to the achievement of corporate goals and objectives. The major objectives are usually profit maximization and service delivery. Performance Appraisal System has been found to act as strong and indispensable Machinery for increase in organizational productivity, organizational peace and harmony and organizational position in its
environment Brown, M., J.S. Heywood (2005:43).
According to Schoenfeld and Shaw (1996) “the evaluation of performance is the control mechanism that provides not only feedback to
individuals but also an organization assessment of how things are progressing. Without performance information, managers of the organization can only quess as to whether employees are working towards the right goals, in the correct way and to the desired standard. Performance Appraisal according to then is a means of knowing if employee behaviour is consistent with the overall strategic focus and a way for bringing to the fore any negative consequences of the strategy behavior link” Kuvaas, B. (2006:17).
In their own view Hicks and Gullet (1973 states that “all persons in organization have personal objectives and each person expects that
participation in the organization will help him achieve his personal objectives. Therefore performance appraisal becomes a means of aligning the
objectives of the individual employees with the organizational objectives. According to Frankline (2003), there are several reasons for performance
appraisal exercise they are to: To provide feedback to the employee, To clarify job expectations, To determine training needs, To diagnose performance problems and Merit pay or salary adjustment.
Other reasons for performance appraisal according to Akpata (2001) are to provide feedback to the supervisor and input for administrative
decisions i.e. promotion, tenure, future employment etc. According to Ubeku (1984:188) “performance appraisal is basically concerned with a review of individual performance during a set period to identify his area of strength and weakness and establish targets for him to achieve within the overall corporate objectives of the organization.
Moreover Nwachukwu (1988:165) stakes that performance appraisal is the determination of how effective an individual has performed the job for
which he was hired. In many cases any one can aptly say that performance appraisal is a periodic and systematic assessment of the work, a compliment of an employee either by himself or his superior in other to impact his effectiveness and adequacy on the job.
Performance appraisal is one of the management tools designed to achieve organizational objectives contributing to the subject matter. Orugbo
(1978:24-25) states that individuals in an organization have their own objectives which they hope to achieve through the organization, hence their
reason for their placing much reliance or being effectively appraised.
However, Khan (2006) warnes that an ineffective performance appraisal can seal the fate of an organization by creating chaos and confusion
from top to bottom in the administrative hierarchy. As a consequence, the chances of success and growth of that organization are bleak.
A Survey by Cleveland et al (1989) shows that performance appraisal has the greatest impact on salary administration, performance feedback and
identification of strengths and weakens. However, the impact of appraisal on employee overall performance it yet to be empirically studied. In keystone Bank Nigeria Limited each staff is appraised to highlight the members good performance and also mention some areas where they have
not fared well. The training needs of the staff member’s are also identified.

The fact that personnel are to be appraised makes then work very hard.
Staff that are rated highly in Keystone Bank Ltd are given staff an edge over others in terms of promotion. Those that do not measure up during
appraisal exercise often not promoted. They are also not placed to work in places that need high intelligence e.g. credit and marketing department.
Management in organizations generally agrees that one of the key factors in developing a smooth functional and efficient firm is the full
utilization of its human resources. Management of workforce is not different from other areas of operation, expect that while other key areas of operation focus on issues like machinery or finance, human resource focus on the most important resources of business the personnel.
The performance management-process is thus an integrated concern that helps to ensure that employees are aware of what is expected of them and how their contribution fits into the big picture as follows:
· Have been involved in establishing the objectives they are required to achieve.
· Understand how their performance is to be measured and can tract how well they are doing.
· Receive appropriate support and coaching throughout the period.
· Are given appropriate recognition and reward for their achievement.
Performance appraisal is one step in developmental sequence for strengthening the total organization. It is a crucial step which unfortunately
has often been carried out with achieving little or no success. It is against this attitude of indifference background that the study intends to examine the
attitude of staff towards performance appraisal in keystone bank limited.

 ROJECT TOPIC- IMPACT OF EMPLOYEE PERFORMANCE APPRAISAL ON THE ACHIEVEMENT OF ORGANIZATIONAL GOAL IN THE BANKING INDUSTRY (A CASE STUDY OF KEYSTONE BANK LTD)

1.2 STATEMENT OF THE PROBLEM

These problems are:
Operational Challenges: These are associated with products innovation, customers. Oriented banking rather than task oriented, improved
technological system, increased internal rivalry/competition among the staff and management.
Human Resource Challenges: Threats in these areas include volatile loyalty and commitment, employees’ taste for different appraisal packages.
Individual performance appraisals hardly serve as important tool to facilitate job growth by providing information to management regarding compensation and decision-making on performance appraisal There is no of which is to enhance open, and timely communication between employees and supervisors.
There is no criteria for an objective assessment of the performance of employees by supervisors.
There are no clear information processes, rating proper of errors, on objective to reaction to the performance appraisal process, as well as rater
training, appraisal feedback and group dynamics.

1.3 OBJECTIVES OF THE STUDY

The main objective is the impact of employees’ performance in the achievement of organizational goals in Nigerian Banking Industry. The
specific objective are to:
Find out how performance appraisal exercise impact on employees’ performance in Keystone Bank (Nig) Ltd examine how appraisal rating
errors affect the performance appraisal exercise in Keystone Bank (Nig) Limited.

1.4 RESEARCH QUESTIONS

 ROJECT TOPIC- IMPACT OF EMPLOYEE PERFORMANCE APPRAISAL ON THE ACHIEVEMENT OF ORGANIZATIONAL GOAL IN THE BANKING INDUSTRY (A CASE STUDY OF KEYSTONE BANK LTD)

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