Performance Appraisal at Public and Private Banks
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INTRODUCTION
Performance Management
Employee Performance Management is a process for establishing a shared
workforce understanding about what is to be achieved at an organisation level.
It is about aligning the organisational objectives with the employees’ agreed
measures, skills, competency reuirements, development plans and the delivery
of results. !he emphasis is on improvement, learning and development in order
to achieve the overall business strategy and to create a high performance
workforce.
Performance management includes activities to ensure that goals are
consistently being met in an effective and efficient manner. Performance
management can focus on the performance of an organi"ation, a department,
employee, or even the processes to build a product or service, as well as many
other areas.
!he PM approach is used most often in the workplace but applies wherever
people interact#schools, churches, community meetings, sports teams, health
setting, governmental agencies, and even political settings. PM principles are
needed wherever in the world people interact with their environments to
produce desired effects. $ultures are different but the laws of behavior are the
same worldwide. %rmstrong and baron &'(()* defined it as +% strategic and
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integrated approach to increasing the effectiveness of organi"ations by
improving the performance of the people who work in them and by developing
the capabilities of teams and individual contributors
FEATURES:-
'* the fastest known method for career promotion-
* the uickest way for career advancement-
/* the surest way for career progress-
0* the best ingredient in career path planning-
1* the only true and lasting virtue for career success-
2* the most neglected part in teachings about management and leadership
principles-
3* the most complete and sophisticated application of performance
management-
)* the best integration of human behavior research findings, with the latest
management, leadership and organi"ational development principles-
(* the best automated method for organi"ational change, development,
growth, performance and profit-
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OBJECTIVES OF PERFORMANCE APPRAISAL
!o review the performance of the employees over a given period of time.
!o judge the gap between the actual and the desired performance.
!o help the management in e4ercising organi"ational control.
5elps to strengthen the relationship and communication between
superior6 subordinates and management6employees.
!o diagnose the strengths and weakness of individuals so as to identify
the training and development of the future.
!o provide feedback to the employees regarding their past performance.
Provide information to assist in the other personal decisions in the
organi"ation.
Provide clarity of the e4pectations and responsibilities of the functions to
be performed by the employees.
!o judge the effectiveness of the other resource functions of the
organi"ation such as recruitment, selection, training and development.
!o reduce the grievances of the employees.
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INDUSTR PROFILE
!he world of banking has assumed a new dimension at dawn of the 'st century
with the advent of tech banking, thereby lending the industry a stamp of
universality. In general, banking may be classified as retail and corporate
banking. 7etail banking, which is designed to meet the reuirement of
individual customers and encourage their savings, includes payment of utility
bills, consumer loans, credit cards, checking account and the like. $orporate
banking, on the other hand, caters to the need of corporate customers like bills
discounting, opening letters of credit, managing cash, etc.
Metamorphic changes took place in the Indian financial system during the
eighties and nineties conseuent upon deregulation and liberali"ation of
economic policies of the government. India began shaping up its economy and
earmarked ambitious plan for economic growth. $onseuently, a sea change in
money and capital markets took place. %pplication of marketing concept in the
banking sector was introduced to enhance the customer satisfaction the policy
of privati"ation of banking services aims at encouraging the competition in
banking sector and introduction of financial services. $onseuently, services
such as 8emat, Internet banking, Portfolio Management, 9enture capital, etc,
came into e4istence to cater to the needs of public. %n important agenda for
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every banker today is greater operational efficiency and customer satisfaction.
!he mew watchword for the bank is pretty ambitious: customer delight.
!he introduction to the marketing concept to banking sectors can be traced back
to %merican ;anking %ssociation $onference of '(1). ;anks marketing can be
defined as the part of management activity, which seems to direct the flow of
banking services profitability to the customers. !he marketing concept basically
reuires that there should be thorough understanding of customer need and to
learn about market it operates in. hitehead
+% ;ank is defined as an institution which collects surplus funds from the
public, safeguards them, and makes them available to the true owner when
reuired and also lends sums be their true owners to those who are in need of
funds and can provide security.
;anking $ompany in India has been defined in the ;anking $ompanies act
'(0(,
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+=ne which transacts the business of banking which means the accepting, for
the purpose of lending or investment of the deposits of money from the public,
repayable on demand, or otherwise and withdraw able be cheue, draft, order or
otherwise.
!he banking system is an integral subsystem of the financial system. It
represents an important channel of collecting small savings form the households
and lending it to the corporate sector. !he Indian banking system has 7eserve
;ank of India &7;I* as the ape4 body for all matters relating to the banking
system. It is the central ;ank of India. It is also known as the ;anker !o %ll
=ther ;anks.
EVOLUTION OF INDIAN BAN!IN"
%ncient banking system of India constituted of indigenous bankers. !hey have
been carrying on their age6old banking operations in different parts of the
country under different names. !he modern age of banking constitutes the
fundamental basis of economic growth. !he term ;ank is being used since long
time but there is no clear conception regarding its beginning. %ccording to the
viewpoint, in good old days. Italian money leaders were known as+; anchi
because they kept a special type of table to transact their business.
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IMPORTANCE OF BAN!S
!oday banks have become a part and parcel of ?otak ;ank@s life. !here was a
time when dwellers of the city alone could enjoy their services. Aow banks
offer access to even a common man and their activities e4tend to areas hitherto
untouched. ;anks cater to the needs of agriculturalists, industrialists, traders and
to all the other sections of the society. In modern age, the banking constitutes
the fundamental basis of economic growth. !hus, they accelerate the economic
growth of a country and steer the wheels of the economy towards its goals of
+self reliance in all fields. It naturally arouses ?otak ;ank@s interest in
knowing more about the B;ank’ and the various men and the activities
connected with it.
INDIAN BAN!IN" SSTEM
C!he success of the economic reforms is therefore all to see and the driving
force of these reforms is the banking sectorC.
P. $hidam ;aram
Dnion
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!hus, economic development of a country depends upon success of banking
industry and success of banking Industry is determined to a large e4tent by now
well then needs of its customers have been understood and satisfied..
RESERVE BAN! OF INDIA
!he ;anking system is an integral sub6system of the financial system. It
represents an important channel of collecting small savings from the households
and lending it to the corporate sector.
!he Indian banking system has !he 7eserve ;ank of India &7;I* as the ape4
body from all matters relating to the banking system. It is the +$entral ;ank of
India and act as the banker to all other banks.
F#nct$on% of RBI:
$urrency issuing authority
;anker to the government.
;anker to other ;ank.
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Reserve Bank of
Commercial Banks Co-operative Banks evelopment Banks
!ationali"e# Private $%ort-term cre#it&ong-term cre#it
'gric(lt(ral Cre#it )r*an Cre#it +,. n#(strial 'gric(lt(ral
Organ$&at$ona' Str#ct#re of Ban(% $n In)$a:
In India banks are classified in various categories according to differ rent
criteria. !he following charts indicate the banking structure:
CLASSIFICATION OF BAN!S
On t*e +a%$% of O,ner%*$
PUBLIC SECTOR BAN!S
Aationalised banks or public banks dominate banking Fystem in India. !he
nationalisation of banks in India took place in '(2( by Mrs. Indira Gandhi the
then prime minister. !he major objective behind nationalisation was to spread
banking infrastructure in rural areas and make available cheap finance to Indian
farmers. ;efore '(2(, Ftate ;ank of India &F;I* was the only public sector bank
in India. 8espite the entry of many new domestic and foreign private banks
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since liberali"ation, public sector banks continue to dominate the commercial
banking industry.
PRIVATE SECTOR BAN!S
Private sector banking in India received a flip in '((0 when 7eserve ;ank of
India encouraged setting up of private banks as part of its policy of
liberalisation of the Indian ;anking Industry. 5ousing 8evelopment
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COMMERCIAL BAN!S
!hese are the banks that do banking business to earn profit. !hese banks make
loans for short to business and in the process create money. $redit creation is
the main function of these banks.
FOREI"N BAN!S
!hese are those banks that are incorporated by foreign company. !hey have set
up their branches in India. !hese banks have their head offices in foreign
countries. !heir principle function is to make credit arrangement or the e4port
and the import of the country and these banks deals in foreign e4change.
INDUSTRIAL BAN!S
Industrial banks are those banks that offer long term and medium term loan to
the industries and also work for their development. !hese banks help industries
in sale of their shares, debentures and bonds. !hey give loan to the industries for
the purchase of land and machinery.
A"RICULTURAL BAN!S
%gricultural banks are those banks that give credit to agricultural sector of the
economy.
SAVIN" BAN!S
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!he principle function of these banks is to collect small savings across the
country and put them to the productive use. In India department of post office
functions a savings banks.
CENTRAL BAN!
$entral ;ank is the ape4 bank of the banking system of the country. It issues
currency notes and acts a banker@s bank. Economic stability is the principle
function of this bank. In short, it regulates and controls the banking system of
the country. 7;I is the $entral ;ank of India.
STRUCTURE OF BAN!IN" SSTEM
8ifferent countries of the world have different types of banking systems.
5owever, commercial banking had grown under all these banking systems. !o
understand the structure of banking system, let us take up various types of
banking systems one by one. !hese types are:
201 UNIT BAN!IN"
Dnit ;anking originated in the Dnited Ftate of %merica. It grew in the Dnited
Ftates of %merica.
+%n independent unit bank is a corporation that operates one office and that is
not related to other banks through either ownership or control.
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2.1 BRANC3 BAN!IN":
!his the most popular and important banking system. In branch banking, a bank
has a large network of branches scattered all over the country. ;ranch banking
developed in England. Fubseuently most of the countries of the world adopted
the system. In terms of branches, the Ftate ;ank of India has emerged as one of
the largest banks in the world. Dnder the system branches can operate without
keeping large idle cash reserves. ;ranch ;anking tends to bring
homogeneity in the prevailing Interest 7ates. !he choice of securities and
investments is larger.
>ith the growth of large scale business it is no wonder that the trend is almost
every country towards the branch banking i.e. big banks with a network of
branches all over the country. !he ;ank of %merica has now more than 1
branches in the state of $alifornia itself.
241 C3AIN BAN!IN":
Dnder the system there is pooling of resources. $hain banking overcomes
certain limitations of unit banking. ;ut the system suffers from certain
limitations of its own. !here may be a lack of co6ordination, proper control etc.
!he system is infle4ible.
251 "ROUP BAN!IN":
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It is similar to $hain ;anking, the difference being that under Group ;anking
two or more banks are brought under the control of the same management
through a 5olding $ompany. ;oth the systems aim at gaining the advantages of
large scale operations. !he banks are able to pool their resources in case of
emergency or when large amount of cash is reuired to meet the loan
reuirements of the customer.
261 CORRESPONDENT BAN!IN":
Dnder $orrespondent banking, small banks serving local communities hold
deposits with joint banks serving in big cities. !his kind of banking is prevalent
in D.F.%. !he correspondent banks perform two important services of outstation
cheue clearing and loan participation for the respondent banks while they
benefit for the deposit funds of respondent banks.
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PRIMAR FUNCTIONS:
01 Accet$ng of Deo%$t%: % bank accepts deposits from the public. People can
deposit their cash balances in either of the following accounts to their
convenience:6
a.
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b. Favings %ccount: !his type of deposit suits to those who just want to
keep their small savings in a bank and might need to withdraw them
occasionally. ;anks provide a certain rate of interest on the minimum balance
kept by the depositor during the month.
c. $urrent %ccount: !his type of account is kept by the businessman who
are reuired to withdraw money every new and then. ;anks do not pay any
interest on this account. %ny sum or any number of withdrawals can be
presented by such an account holder.
.1 A)7anc$ng of Loan%: !he bank advances money in any one of the following
ways.
a. =verdraft
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c. Hoans: Hoans are granted by the banks on securities which can be easily
disposed off in the market. >hen the bank has satisfied itself regarding the
soundness of the party, a loan is advanced.
d. $ash $redit: !he 8ebtor is allowed to withdraw a certain amount on a
given security. !he debtor withdraws the amount within this limit, interest is
charged by the bank on the amount actually withdrawn.
e. 8iscounting ;ill of E4change: It is another method of making advances
by the banks. Dnder this method, bank give advance to their clients on the basis
of their bills of e4change before the maturity of such bills.
f. Investment in Government Fecurities: Purchasing of government
securities by the banks tantamount to advancing loans by them to the
Government. ;anks prefer to buy government securities as these are considered
to be the safest investment.
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bank is accepted by the public in settlement of their debts. In this process the
bank creates money.
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ii* Purchase and Fale of Fecurities : !he modern commercial banks also
undertake the purchase and sale of various securities like shares, stocks, bonds
units and debentures etc. =n behalf of the customers, banks do not give any
advice regarding the suitability or otherwise of a security but simply perform
the functions of a broker.
iii* !rustee and E4ecutor : ;anks also acts as trustees and e4ecutors of the
property of their customers on their advice. Fometimes banks also undertake
income ta4 services on behalf of the customers.
iv* 7emittance of
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vii* Purchase and Fale of
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iv* 5elp in !ransportation of Goods: ;ig businessmen or industrialists after
consigning goods to their retailers send the 7ailway 7eceipt &$onsignment
Aote* to the bank.
v* Issuing of gift cheues: $ertain banks issue gift cheues of various
denominations, e.g. Fome Indian banks issue gift cheues f the denominations
of 7s. ', /', 1' and '' etc. !hey are generally issued free of charge.
vi* 8ealing in
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I8;I ;ank
Indian ;ank
=riental ;ank of $ommerce
Punjab Aational ;ank
Dnited ;ank of India
%llahabad ;ank
%ndhra ;ank
;ank of ;aroda
;ank of Maharashtra
$anara ;ank
$entral ;ank of India
$orporation ;ank
Indian =verseas ;ank
Fyndicate ;ank
Dnion ;ank of India
9ijaya ;ank
Punjab J Find ;ank
PRIVATE BAN!S
%4is ;ank
;ank of 7ajasthan
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$atholic Fyrian ;ank
$ity Dnion ;ank
8hanalakshmi ;ank
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need not have to carry moneycash with him when he travels or goes for
purchasing.
$redit cards have found wide spread acceptance in the Bmetros’ and
big cities. $redit cards are joining popularity for online payments. !he major
players in the $redit $ard market are the foreign banks and some big public
sector banks like F;I and ;ank of ;aroda. India at present has about / million
credit cards in circulation.
* 8ebit $ards: 8ebit $ard is a +prepaid or +pay now card with some
storedvalue. 8ebit $ards uickly debit or subtract money from one’s savings
account, or if one were taking out cash.
>hen % $DF!=ME7 makes a purchase, he enters this number on
the shop’s PIA pad. >hen the card is swiped through the electronic terminal, it
dials the acuiring bank system N either Master $ard or 9isa that validates the
PIA and finds out from the issuing bank whether to accept or decline the
transaction. !he customer never overspread because the amount spent is debited
immediately from the customers account. Fo, for the debit card to work, one
must already have the money in the account to cover the transaction. !here is no
grace period for a debit card purchase.
!he major limitation of 8ebit $ard is that currently only
some /60 shops country wide accepts it.
/* %utomatic !eller Machine: !he introduction of %!M’s has given the
customers the facility of round the clock banking. %!M card is a device that
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allows customer who has an %!M card to perform routine banking transaction at
any time without interacting with human teller. !his can be done by inserting
the card in the %!M and entering the Personal Identification Aumber and secret
Password.
%!M’s are currently becoming popular in India that enables the
customer to withdraw their money 0 hours a day and /21 days. It provides the
customers with the ability to withdraw or deposit funds, check account
balances, transfer funds and check statement information.
0* E6$heues: !he e6cheues consists five primary facts. !hey are the
consumers, the merchant, consumer’s bank the merchant’s bank and the e6mint
and the clearing process. !his cheuring system uses the network services to
issue and process payment that emulates real world cheuing. !he payer issue a
digital cheues to the payee ant the entire transactions are done through internet.
Electronic version of cheues are issued, received and processed
!he e6cheuing is a great boon to big corporate as well as small retailers. Most
major banks accept e6cheues. !hus this system offers secure means of
collecting payments, transferring value and managing cash flows.
Electronic cheue handling process with computer networks and other electronic
euipments. !hese banks are dispensing with the use of paper cheues. !he
system called electronic fund transfer &E
from one account to another. !his system facilitates speedier transfer of funds
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electronically from any branch to any other branch. In this system the sender
and the receiver of funds may be located in different cities and may even bank
with different banks.
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2* Internet ;anking: Internet banking involves use of internet for delivery of
banking products and services. >ith internet banking is now no longer
confirmed to the branches where one has to approach the branch in person, to
withdraw cash or deposits a cheue or reuest a statement of accounts. In
internet banking, any inuiry or transaction is processed online without any
reference to the branch &anywhere banking* at any time.
I$I$I bank was the first one to offer Internet ;anking in India.
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3* $yber ;anking: It refers to banking through online services. ;anks with web
site +$yber branches allowed customers to check balances, pay bills, transfer
funds, and apply for loans on the Internet.
)* 8emat: 8emat is short for de6materialisation of shares. In short, 8emat is a
process where at the customer’s reuest the physical stock is converted into
electronic entries in the depository system.
INTRODUCTION TO T3E TOPIC
3ISTOR OF PERFORMANCE MANA"EMENT
Performance Management began around 2 years ago as a source of income
justification and was used to determine an employees wage based on
performance. =rganisations used Performance Management to drive behaviours
from the employees to get specific outcomes. In practice this worked well for
certain employees who were solely driven by financial rewards. 5owever,
where employees were driven by learning and development of their skills, it
failed miserably. !he gap between justification of pay and the development of
skills and knowledge became a huge problem in the use of Performance
Management. !his became evident in the late '()s- the realisation that a more
comprehensive approach to manage and reward performance was needed. !his
approach of managing performance was developed in the Dnited ?ingdom and
the Dnited Ftates much earlier than it was developed in %ustralia.
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In recent decades, however, the process of managing people has become more
formalised and specialised. Many of the old performance appraisal methods
have been absorbed into the concept of Performance Management, which aims
to be a more e4tensive and comprehensive process of management. Fome of the
developments that have shaped Performance Management $n recent years are
the differentiation of employees or talent management, management by
objectives and constant monitoring and review. Its development was accelerated
by the following factors:
'* !he introduction of human resource management as a strategic driver and
integrated approach to the management and development of employees.
* !he understanding that the process of Performance Management is
something that’s completed by line managers throughout the year N it is not
a once off annual event coordinated by the personnel department.
PROCESS OF PERFORMANCE MANA"EMENT IN OR"ANISATION
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ESTABLIS3
PERFORMANCE
STANDARDS
COMMUNICATIN"
T3E STANDARDS
MEASURIN" T3E ACTUAL
PERFORMANCE
COMPARIN" T3E ACTUAL
;IT3 DESIRED
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0/1 ESTABLIS3 PERFORMANCE STANDARDS
!he first step in the process is the setting up of the standards which will be used
to as the base to compare the actual performance of the employees. !his step
reuires setting the criteria to judge the performance of the employees as
successful or unsuccessful and the degrees of their contribution to the
organi"ational goals and objectives. !he standards set should be clear, easily
understandable and in measurable terms. In case the performance of the
employee cannot be measured, great care should be taken to describe the
standards. ?P%s are set for each employee and they are prioriti"ed. 3O
weightage is given to technical skills and /O weightage is given to
behavioural skills. ;ehavioural skills e4pected from employees are same for all
employees. %ssessment is done by the head of the department.
./1 COMMUNICATIN" T3E STANDARDS
=nce set, it’s the responsibility of the management to communicate the
standards to all the employees of the organi"ation. !he employees are informed
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DISCUSS RESULTS
DECISION MA!IN"
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and the standards are clearly e4plained to them. !his will help them to
understand their roles and to know what e4actly is e4pected from them. !he
standards are also communicated to the appraisers or the evaluators and if
reuired. !he standards can also be modified at this stage itself according to the
relevant feedback from the employees or the evaluator
4/1 MEASURE T3E ACTUAL PERFORMANCE
!he most difficult of the performance appraisal process is measuring the actual
performance of the employees that is work done by the employees during the
specified period of time. Is is a continuous process which involves monitoring
the performance throughout the year. !his stage reuires the careful selection of
the appropriate techniues of measurement, taking care that personal bias does
not affect the outcome of the process and providing assistance rather than
interfering in an employees work.
5/1 COMPARIN" T3E ACTUAL ;IT3 DESIRED
PERFORMANCE
!he actual performance is compared with the desired or the standard
performance. !he comparison tells the deviations in the performance of the
employees from the standards set. !he result can show the actual performance
being more than the desired performance or, the actual performance being less
than the desired performance depicting a negative deviation in the
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organi"ational performance. It includes recalling, evaluation and analysis of
data related to the employee’s performance.
6/1 DISCUSSIN" RESULTS
!he result of the appraisal is communicated and discussed with the employees
on one6to6one basis. !he focus of this discussion is on communication and
listening. !he results, the problems and the possible solutions are discussed with
the aim of problem solving
and reaching consensus. !he feedback should be given with a positive attitude
as this can have an effect on the employees’ future performance. !he purpose of
the meeting should be to solve the problems faced and motivate the employees
to perform better
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!he foregoing list of major program pitfalls represents a formidable challenge,
even considering the available battery of appraisal techniues. ;ut attempting to
avoid these pitfalls by doing away with appraisals themselves is like trying to
solve the problems of life by committing suicide. !he more logical task is to
identify those appraisal practices that are &a* most likely to achieve a particular
objective and &b* least vulnerable to the obstacles already discussed.
;efore relating the specific techniues to the goals of performance appraisal
stated at the outset of the article, I shall briefly review each, taking them more
or less in an order of increasing comple4ity.
!he best6known techniues will be treated most briefly.
Broa)'9= a'' t*e met*o)% of erformance ara$%a' can +e c'a%%$f$e) $nto
fo''o,$ng t,o categor$e%:
Tra)$t$ona' Met*o)%
Mo)ern Met*o)%
Met*o) of erformance ara$%a'
TRADITIONAL MET3ODS
E%%a9 ara$%a'
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In its simplest form, this techniue asks the rater to write a paragraph or more
covering an individual@s strengths, weaknesses, potential, and so on. In most
selection situations, particularly those involving professional, sales, or
managerial positions, essay appraisals from former employers, teachers, or
associates carry significant weight.
"ra*$c rat$ng %ca'e
Tra)$t$ona' Met*o)% Mo)ern Met*o)%
E%%a9 Met*o)
"ra*$c Rat$ng Sca'e
F$e') Re7$e, Met*o)
Force) C*o$ce Met*o)
Ran($ng Met*o)
C*ec('$%t Met*o)
Management +9 O+>ect$7e%
A%%e%%ment Centre Met*o)
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!he field review is one of several techniues for doing this. % member of the
personnel or central administrative staff meets with small groups of raters from
each supervisory unit and goes over each employee@s rating with them to &a*
identify areas of inter6rater disagreement, &b* help the group arrive at a
consensus, and &c* determine that each rater conceives the standards similarly. .
Force)-c*o$ce rat$ng
Hike the field review, this techniue was developed to reduce bias and establish
objective standards of comparison between individuals, but it does not involve
the intervention of a third party.
Ran($ng met*o)%
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0/ @A'ternat$on ran($ng
:7anking of employees from best to worst on a trait or traits is another
method for evaluating employees. Fince it is usually easier to distinguish
between the worst and the best employees than to rank them, an alternation
ranking method is most popular. 5ere subordinates to be rated are listed and
the names of those not well enough to rank are crossed. !hen on a form as
shown below, the employee who is highest on the characteristic being
measured and the one who is the lowest are indicated. !hen chose the ne4t
highest and the ne4t lowest, alternating between highest and lowest until all
the employees to be rated have been ranked.
./ @Pa$re)-comar$%on ran($ng:
!his techniue is probably just as accurate as alternation ranking and might be
more so. ;ut with large numbers of employees it becomes e4tremely time
consuming and cumbersome.
;oth ranking techniues, particularly when combined with multiple rankings
&i.e., when two or more people are asked to make independent rankings of the
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same work group and their lists are averaged*, are among the best available for
generating valid order6of6merit rankings for salary administration purposes.
MODERN MET3ODS
Management +9 o+>ect$7e%
!o avoid, or to deal with, the feeling that they are being judged by unfairly high
standards, employees in some organi"ations are being asked to set 6 or help set 6
their own performance goals. >ithin the past five or si4 years, M;= has
become something of a fad and is so familiar to most managers that I will not
dwell on it here.
A%%e%%ment center%
Fo far, we have been talking about assessing past performance. >hat about the
assessment of future performance or potential In any placement decision and
even more so in promotion decisions, some prediction of future performance is
necessary. 5ow can this kind of prediction be made most validly and most
fairly
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Many firms have e4panded the idea of upward feedback into what the call /26
degree feedback. !he feedback is generally used for training and development,
rather than for pay increases.
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which can be discussed objectively and constructively, with little or no need for
a supervisor to Cplay God.C
A)7antage%
Instead of assuming traits, the M;= method concentrates on actual outcomes. If
the employee meets or e4ceeds the set objectives, then he or she has
demonstrated an acceptable level of job performance. Employees are judged
according to real outcomes, and not on their potential for success, or on
someone@s subjective opinion of their abilities.
!he guiding principle of the M;= approach is that direct results can be
observed easily. !he M;= method recogni"es the fact that it is difficult to
neatly dissect all the comple4 and varied elements that go to make up employee
performance.
M;= advocates claim that the performance of employees cannot be broken up
into so many constituent parts, but to put all the parts together and the
performance may be directly observed and measured.
D$%a)7antage%
!his approach can lead to unrealistic e4pectations about what can and cannot be
reasonably accomplished. Fupervisors and subordinates must have very good
Creality checkingC skills to use M;= appraisal methods. !hey will need these
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skills during the initial stage of objective setting, and for the purposes of self6
auditing and self6monitoring.
9ariable objectives may cause employee confusion. It is also possible that fluid
objectives may be distorted to disguise or justify failures in performance.
BENEFITS OF PERFORMANCE APPRAISALS
• Measures an employee’s performance.
• 5elps in clarifying, defining, redefining priorities and objectives.
• Motivates the employee through achievement and feedback.
•
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RATIN" ERRORS IN PERFORMANCE APPRAISALS
Performance appraisals are subject to a wide variety of inaccuracies and biases
referred to as @rating errors@. !hese errors can seriously affect assessment results.
Fome of the most common rating errors are: 6
Len$enc9 or %e7er$t9:
Heniency or severity on the part of the rater makes the assessment subjective.
Fubjective assessment defeats the very purpose of performance appraisal.
7atings are lenient for the following reasons:
'. !he rater may feel that anyone under his or her jurisdiction who is rated
unfavorably will reflect poorly on his or her own worthiness.
. 5eFhe may feel that a derogatory rating will be revealed to the rate to
detriment the relations between the rater and the ratee.
/. 5eFhe may rate leniently in order to win promotions for the subordinates
and therefore, indirectly increase hisher hold over him.
Centra' ten)enc9: -
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!his occurs when employees are incorrectly rated near the average or middle of
the scale. !he attitude of the rater is to play safe. !his safe playing attitude
stems from certain doubts and an4ieties, which the raters have been assessing
the rates.
3a'o error:-
% halo error takes place when one aspect of an individual@s performance
influences the evaluation of the entire performance of the individual. !he halo
error occurs when an employee who works late constantly might be rated high
on productivity and uality of output as well a4 on motivation. Fimilarly, an
attractive or popular personality might be given a high overall rating. 7ating
employees separately on each of the performance measures and encouraging
raters to guard against the halo effect are the two ways to reduce the halo effect.
Rater effect:
!his includes favoritism, stereotyping, and hostility. E4tensively high or low
score are given only to certain individuals or groups based on the rater@s attitude
towards them and not on actual outcomes or behaviors- se4, age, race and
friendship biases are e4amples of this type of error.
Pr$mac9 an) Regenc9 effect%: -
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!he rater@s rating is heavily influenced either by behavior e4hibited by the ratee
during his early stage of the review period &primacy* or by the outcomes, or
behavior e4hibited by the ratee near the end of the review period ®ency*.
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RESEARC3 MET3ODOLO"
OBJECTIVES OF T3E STUD
!he main objective of this study was to know performance management system
in the organi"ation.!he sub objectives that we wanted to achieve are as
follows:6
'* !o know whether the employees are aware of the appraisal system
followed by the company.
* !o ascertain that what the factors are those are considered while
appraising the performance of employees.
/* !o know that whether there is any biasness in the performance appraisal
system of the organi"ation.
0* !o find out the satisfaction level of employees regarding companies
appraisal system.
1* !o analy"e the various factors that can motivate employees in their work.
2* !o invite suggestions for the welfare of the employees of the company.
7esearch is an art of scientific investigation. In other word research is a
scientific and systematic search for pertinent information on a specific topic.
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!he logic behind taking research methodology into consideration is that one can
have knowledge about the method and procedure adopted for achievement of
objectives of the project. >ith the adoption of this others can evaluate the
results also. Its main aim is to keep the researchers on the right track.
!he methodology adopted for studying the objectives was surveying the saving
account holders of %gra 8istrict. Fo keeping in view the nature of reuirements
of the study to collect all the relevant information regarding the comparison of
saving account of state bank of India with other banks, direct personal interview
method with structured uestionnaire was adopted for the collection of primary
data.
Fecondary data has been collected through the various maga"ines and
newspapers and by surfing on Internet. %nd the guide in the organi"ation was
consulted at many times.
SAMPLE DESI"N:-
% sample design is a definite plan for obtaining a sample from a given
population. It refers to the techniues or the procedure the researcher would
adopt in selecting items for the sample. Fample design may as well lay down
the number of items to be included in the sample i.e. the si"e of the sample.
Fample design is determined before data are collected. 5ere we select the
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population as sample in our sample design. !he selected respondents should be
as representatives of the total population.
POPULATION:- !he persons holding saving account related to business class
of %gra 8istrict were taken into consideration.
DATA COLLECTION
8ata was collected by using main two methods i.e primary data and secondary
data
PRIMAR DATA
Primary data is the data which is used or collected for first time and it is not
used by anyone in the past. !here are number of sources of primary data from
which the information can be collected.
UESTIONNAIRE:-!his method of data collection is uite popular. 5ere in
our research we set 3 simple uestions and reuest the respondents to answer
these uestions with correct information.
RESPONDENTS:-7espondents helps in creation of more accurate idea about
our research. >e personally meet the respondents inside and outside the banks.
SECONDAR DATA
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Fecondary data is the data which is available in readymade form and which is
already used by people for some purposes. !here may be various sources of
secondary data such as6newspapers, maga"ines, journals, books, reports,
documents and other published information.
BAN!S ANNUAL REPORTS:-;anks issues there annual reports to get the
people informed with the profitability and growth of the bank. !hese annual
reports helps us a lot to get the latest data and other related information for our
research. It tells us about the increase or decrease in profits and other facilities.
JOURNALS AND PUBLICATIONS OF DIFFERENT BAN!S :->e also
take into consideration the journals and publications issued by the bank at
different times. we come to know about the ;ranches, %!M, locations and other
useful information.
MANUALS AND BROAC3ERS OF DIFFERENT BAN!S:->e take the
help of bank staff and other people who gives us deep information and data
which may not be available at anywhere. !hey gives us there full co6 operation.
INTERNET:->e also take into consideration the internet facility with which
we collect lot of latest information.
SAMPLE PLAN:
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SAMPLIN" UNIT:- F!%!E ;ank of IA8I%, ;ranch in %G7% city. 8ue to
nature of study, we also visited various different banks I$I$I, 58
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DATA ANALSIS AND INTERPRETATION
DATA ANALSIS
-01 Do 9o# (no, t*e re%ent Performance management %9%tem #%e) $n
9o#r organ$&at$on
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Re%on%e yes Ao
Re%on)ent
%
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100
0
es
no
Interretat$on >e can say that (1O employees know the performance
management system used in the organi"ation 1O are unaware of that.
-.1 %re you satisfied with the present PMF used in your organi"ation
Re%on%e yes Ao Fome how $an’t say
Re%on)ent% 0 '
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Interretat$on
>e can say that )O employees are satisfied with the performance management
system used in the organi"ation and no one is unsatisfied. 'O employees are
some how satisfied and 'O are not able to say anything.
-41 T*e c#rrent roce%% $% too t$me con%#m$ng.
Re%on%e Ftrongly
agree
agree neutral disagree Ftrongly
disagree
Re%on)ent
%
) '' ''
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Interretat$on
>e can say that 12O employees are agree, O are neutral and O are
disagree with the above statement.
-51 Do 9o# t*$n( t*e a%%e%%ment g$7en +9 9o#r 3OD $% on #n+$a%e) +a%$%/
7esponse Ftrongly
agree
agree neutral disagree Ftrongly
disagree
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7espondent
s
' / 1 /
Interretat$on
>e can say that O employees are strongly agree, 2O are agree, 'O are
neutral, 2O are disagree and 0O are strongly disagree with the statement.
-61 Team o+>ect$7e% )ont e$%t/
Re%on%e Ftrongly %gree neutral disagree Ftrongly
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agree disagree
Re%on)ent
%
' ' 1 '1 '
Interretat$on
>e can say that O employees are strongly agree, O are agree, 'O are
neutral, /O are disagree and O are strongly disagree with the statement.
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-1 Reg#'ar fee)+ac( of t*e ,or( $% g$7en.
Re%on%e Ftrongly
agree
%gree neutral disagree Ftrongly
disagree
Re%on)ent
%
'1 3 / /
Interretat$on
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>e can say that /O employees are strongly agree, 10O are agree, 2O are
neutral, 2Oare disagree and 0O are strongly disagree with the statement.
-G1 PMS of 9o#r coman9 mot$7ate% 9o# for ,or(/
Re%on%e Ftrongly
agree
%gree Aeutral 8isagree Ftrongly
disagree
Re%on)ent
%
( /' )
Interretat$on
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>e can say that ')O employees are strongly agree, 2O are agree, '2O are
neutral, 0Oare disagree and O are strongly disagree with the statement.
-H1 PMS $% effect$7e $n 9o#r organ$&at$on/
Re%on%e Ftrongly
agree
%gree Aeutral 8isagree Ftrongly
disagree
Re%on)ent
%
'/ 3 2
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Interretat$on
>e can say that 2O employees are strongly agree, 10O are agree, 'O are
neutral, 0Oare disagree and 0O are strongly disagree with the
-0?1 Part$c$at$on $n t*e erformance management roce%% $% # to t*e
re8#$re) 'e7e'/
Re%on%e Ftrongly
agree
%gree Aeutral 8isagree Ftrongly
disagree
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Re%on)ent
%
) 1 ' 1
Interretat$on
>e can say that '2O employees are strongly agree, 1O are agree, O are
neutral, 'Oare disagree and 0O are strongly disagree with the statement.
-001 Per%ona' )e7e'oment 'an% e$%t/
Re%on%e Ftrongly %gree Aeutral disagree Ftrongly
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agree disagree
Re%on)ent
%
2 / 1 1 0
Interretat$on
>e can say that 'O employees are strongly agree, 2O are agree, 'O are
neutral, 'Oare disagree and )O are strongly disagree with the statement.
-0.1 Fee)+ac( on goo) or oor rogre%% $% %a7e) # to t*e en) of t*e 9ear/
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Re%on%e Ftrongly
agree
%gree Aeutral disagree Ftrongly
disagree
Re%on)ent
%
( /3
Interretat$on
>e can say that ')O employees are strongly agree, 30O are agree, 0O are
neutral, 0Oare disagree and O are strongly disagree with the statement.
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-041 I% #n%at$%factor9 PMS )$rect'9 re'ate% to t*e em'o9ee t#rno7er/
Re%on%e Ftrongly
agree
%gree Aeutral disagree Ftrongly
disagree
Re%on)ent
%
( /1 / '
Interretat$on
>e can say that ')O employees are strongly agree, 3O are agree, 2O are
neutral, 0Oare disagree and O are strongly disagree with the statement.
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-051 Se'f rat$ng $% 7er9 #%ef#' for PMS/
Re%on%e Ftrongly
agree
%gree Aeutral disagree Ftrongly
disagree
Re%on)ent
%
) / 2 0
Interretat$on
>e can say that '2O employees are strongly agree, 20O are agree, 'O are
neutral, )Oare disagree and O are strongly disagree with the statement.
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-061 ,*at factor% from t*e fo''o,$ng are con%$)ere) $n 9o#r organ$&at$on
,*$'e ara$%$ng t*e erformance/
Re%on%e !echnicality
J behavior
!eam
work
Productivit
y
>aste
managemen
t
other
Re%on)ent
%
/2 0 )
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Interretat$on
>e can say that 3O employees says that technicality J behavior are
considered while appraising the performance, )O think team work, '2O says
productivity, 0O says waste management and O says other.
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Interretat$on
>e can say that ')O employees think that appraisal should be done only once,
)O think that it should be done continuously.
-01 If g$7en a c*ance or oort#n$t9= ,o#') 9o# '$(e t*at t*e c#rrent
roce)#re %*o#') +e re7$e,e)
Re%on%e Les no $an’t say
Re%on)ent
%
/
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Interretat$on
2O employees want that the current procedure should be reviewed and 0O
says that it should not be reviewed.
-0G1 Ba%e) on 9o#r 8#a'$f$cat$on= c#rrent ro'e= re%on%$+$'$t9
ac*$e7ement= *o, )o 9o# ran( 9o#r o,n erformance
Re%on%e E4cellent 9ery good %verage Good
Re%on)ent% 0 ) ')
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Interretat$on
>e can say that )O employees rank their performance as e4cellent, '2O as very
good, /2O as average and 0O as good.
-0H1 ;*at accor)$ng to 9o# $% t*e +e%t %trateg9 for $ncrea%$ng t*e
em'o9ee erformance
Re%on%e Increase
benefits
Aegative
reinforcemen
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t for work t other
Re%on)ent
%
' 2 /
Interretat$on
>e can say that 0 O employees think that increase in benefits can increase the
employee’s performance, O says negative reinforcement, 'O says freedom
for work, 20O say positive reinforcement.
RESULT AND FINDIN"S
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RESULT AND FINDIN"S
'O employees know the performance management system used in the
organi"ation.
• More than 1O employees agreed that the present system is time consuming.
• 2O of the employees agreed that assessment given by their 5=8 is on
unbiassed basis.
• /O of the employees are agreed that team objectives do e4ist.
• 1O of the employees agreed that the focus of PMF is developmental.
• More than 1O of the employees are agreed that PMF in their organi"ation is
effective.
• 5alf of the employees agreed that participation in the PMF is upto the
reuired level.
• 2O of the employees are agreed that personal development plans e4ist.
• 3O of the employees are agreed that unsatisfactory PMF directly relates to
the employee turnover.
• 20O of the employees are agreed that self rating is useful in PMF.
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CONCLUSION
Employee satisfaction is vital factor for the performance of organi"ation
because it provides the basis for the foundation of the organi"ation. =n the basis
of study which I gone through, I came to know that employee satisfaction level
is high but there are chances of improvisation.
!o increase the level of satisfaction, some more steps can be taken by banking
sector in %gra such as self rating by the employees and positive reinforcement
system for increasing the performance of the employees. !he primary objective
was to study satisfaction with regard to performance management system of the
organi"ation and from study, I came to know that majority of the employees are
satisfied with policies of the organi"ation. !o increase the percentage of
satisfied employees, organi"ation should work for them.
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RECOMMENDATIONS SU""ESTIONS
• %ppraisal of the performance should be done continuously.
• Positive reinforcement should be used for increasing the employee
performance.
• =rgani"ation need to ensure role clarity among the employees.
• %ppraiser should have proper knowledge regarding the different rating
scales in the appraisal report.
• It is suggested that involvement of appraisal in performance management
activities should be increased.
• Employees should be given chance to give suggestions regarding
performance management system.
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BIBLIO"RAP3
?evin .F, securities and portfolio management,
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EMPLOEE INFORMATION
NAME: DESI"NATION:
"ENDER: DEPARTMENT:
A"E: SERVICE PERIOD:
PLEASE TIC! MAR! T3E PROPER ANS;ER
Q6'* 8o you know the present Performance management system used in your
organi"ation
R'S Les RS Ao
Q6* %re you satisfied with the present PMF used in your organi"ation
R'S yes RS no R/S some how R0S can’t say
Q6/* the current process is too time consuming.
R'S strongly agree RS agree R/S neutral R0S disagree R1S strongly disagree
Q60* 8o you think the assessment given by your 5=8 is on unbiased basis.
R'S strongly agree RS agree R/S neutral R0S disagree R1S strongly disagree
Q61* !eam objectives don’t e4ist.
R'S strongly agree RS agree R/S neutral R0S disagree R1S strongly disagree
Q62* !he focus of performance management is developmental.
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R'S strongly agree RS agree R/S neutral R0S disagree R1S strongly disagree
Q63* 7egular feedback of the work is given.
R'S strongly agree RS agree R/S neutral R0S disagree R1S strongly disagree
Q6)* PMF of your company motivates you for work.
R'S strongly agree RS agree R/S neutral R0S disagree R1S strongly disagree
Q6(* PMF is effective in your organi"ation.
R'S strongly agree RS agree R/S neutral R0S disagree R1S strongly disagree
Q6'* Participation in the performance management process is up to the
reuired level.
R'S strongly agree RS agree R/S neutral R0S disagree R1S strongly disagree
Q6''* Personal development plans e4ist.
R'S strongly agree RS agree R/S neutral R0S disagree R1S strongly disagree
Q6'*
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R'S strongly agree RS agree R/S neutral R0S disagree R1S strongly disagree
Q6'1* >hat factors from the following are considered in your organi"ation
while appraising the performance.
R'S !echnicality J behavior
RS team work
R/S productivity
R0S waste management
R1S other
Q6'2* 5ow often the appraisal should be done
R'Sonce during the service period RS continuously
R/S never R0S can’t say
Q6'3* If given a chance or opportunity, would you like that the current
procedure should be reviewed
R'S yes RS no R/S can’t say
Q6')* ;ased on your ualification, current role, responsibility J achievement,
how do you rank your own performance
R'S e4cellent RS very good R/S average R0S good
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Q6'(* >hat according to you is the best strategy for increasing the employee
performance
R'S Increase benefits RS negative reinforcement R/S freedom for work
R0S positive reinforcement R1S any other