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PERFORMANCE APPRAISAL AS A TOOL
FOR ENHANCING ORGANIZATIONAL PRODUCTIVITY
CHAPTER ONE
INTRODUCTION
1.1 BACKGROUND
OF THE STUDY
In
any evaluation of the condition necessary for the growth and survival of an
organization, the role of performance appraisal is a strategic factor. It is
believed that both the individual and the organization need to know how well
actual performance is contributing to the accomplishment of the job plans, the
staffing plan, and ultimately the overall strategic plan of the organization.
In addition, the individual employee requires feedback relative to his or her
own goals development, as well as that relative to management’s expectations.
Performance
appraisal is a formal and systematic assessment of an employee to determine the
degree to which the employee is performing his/her job effectively. It is
usually made in a prescribed manner of specific intervals such as quarterly,
bi-annually or even annually. Each employee at one time or the other wants his
immediate boss or more still his employer to assess his on-the-job performance,
and where necessary give him guidelines or advice for improving his efficiency.
An
effective performance review system serves these general purposes. In other
words, as Nwachukwu (1985) puts it, “the
essence of performance appraisal is to give information for the promotion,
demotion, transfer, pay increase, training and development and discharge of an
employee”.
Secondly,
it provides employees with constructive on how they are performing in their
jobs as viewed by their managers, thus leading to increased productivity.
Therefore,
in any organization, manpower remains the most prominent and the most valuable
assets among other factors of production. It is this reason performance
appraisal is given recognition as a tool to improve organizational activities.
1.2 STATEMENT
OF THE PROBLEM
Since
the study seeks to examine performance appraisal as management tool for
increased productivity in Union Bank Nig Plc. It therefore attempts to identify
various employee appraising techniques, some common appraisal problems and how
proper performance appraisal can enhance increased productivity in Union Bank
Nig Plc.
1.3 OBJECTIVES
OF THE STUDY
The
purpose of writing this project is to investigate into how performance
appraisal can enhance increased productivity in Union Bank Nig Plc. The study
will among other things try:
i.
To find out the various performance
appraisal techniques used.
ii.
To examine the implications of
performance and productivity.
iii.
To provide bases for reward employees
in relations to their contribution to the organization.
iv.
To identify some common appraisal
problems of employees and how proper appraisal can enhance increased
productivity.
v.
To make some used recommendations to
management.
1.4 STATEMENT
OF HYPOTHESIS
A
hypothesis is a conjectural statement of relationship between two or more
variables. They are always in declarative sentence form, and they relate either
generally or specifically, variable or variables. They are particularly
necessary in the studies of this nature where cause and effect relationships
are to be discovered.
H1: Performance
appraisal techniques provide formal management procedure used in the evaluation
of work performance in the organization.
H0: Performance appraisal techniques do not provide formal management
procedure used in the evaluation of work performance in the organization.
1.5 SIGNIFICANCE
OF THE STUDY
i)
The study is of vital importance to
organization’s effectiveness, hence the result will be useful to the
organization in developing effective and efficient performance appraisal plans
and programmes to aid the organization in its goals attainment.
ii)
The importance of this study
therefore is to research into those benefits that performance appraisal could
bring to the organization, employer and the employees alike.
iii)
The study could also be valuable as
source of reference to students of management studies who mighty carry out
similar or further research in this area.
iv)
The study will help the researcher to
fulfill the requirement for the award of HND in management studies.
1.6 SCOPE
OF THE STUDY
The
study would squarely concentrate in analyzing performance appraisal techniques
in Union Bank Nig Plc. The researcher has related the study only to the areas
that are related to the topic such areas are: performance appraisal, techniques
for performance appraisal.
1.7 LIMITATION
OF THE STUDY
In
a developing country like Nigeria, students are normally faced with grave
shortage of relevant facts necessary for their research work and mine is not an
exception.
However,
confidence and ability are best assets every human being must possess. The
following are some of the constraints encountered during this project work.
1.
Insufficient Textbooks and High
Price Tags: In Nigeria nowadays, in purchase good
and comprehensive textbooks for reading to further research on a typical
issues. It will cost an average of three thousand naira and an average student
cannot lay their hand on it as a result of the economic situation.
2.
Time Factor:
In this part of the country and due to classroom lecturers, it often hinders
someone to concentrate more one it project writing because part of the time are
used in classrooms and to further participate in classroom group discussion and
assignments.
3.
Finance:
This project work involves huge financial expenses such as photocopy, typing
and movement from one point to another to gather information. The financial
problems not only hindered movement but also discourse ones enthusiasm in
learning.
4.
Personal Limitations:
Personal time available for recreation resting and washing are partly engulfed
by this study in attempt to beat the expiration time for submission.
1.8 HISTORICAL
BACKGROUND OF THE CASE STUDY
Union Bank is one of
the five leading banks in Nigeria, ranking with the First Bank Plc, UBA Plc,
Zenith Bank and Guaranty Trust Bank before and after recapitalization of
banking industry. Union bank plc is a commercial bank that has been existing
from 1917 as the then Barclays bank DCO, New Union Bank of Nigeria Plc came
into the country. Barclays bank is a subsidiary of Barclays International was
incorporated in Nigeria when the banking decree of 1969 was promulgated. It
changed its name to Union Bank of Nigeria Limited in March 1972, when the
indigenization decree came into existence.
The federal government
held 52% of the banks share 40% for the Barclays international which sold 30%
of its share to Nigerian in 1979, ten years later they sold the remaining 20%
to Nigerian making it a wholly indigenes bank.
When the banking
reforms introduced by Central Bank Governor Prof. Charles Soludo, that all
banks operating in Nigeria to shore up their shareholders funds by sum 1150
percent from N2 billion to N25 billion (equivalent of 192 million dollars)
before December 2005, the Union bank go into merger and acquisition with the
following banks for consolidation. The bank merged and acquired Broad Bank Plc,
where the capital base rose over N25 billion.
The staff strength of
the bank is about 1000 people of various professional backgrounds well trained
and carefully selected to attend to customers need with the highest standard of
personal attention, confidentially and competence.
Union Bank is active
in all Commercial Corporation and investment banking as well as international
transaction. The bank operations are varied with specialized products for
different aspects of banking. The bank also involve within the same industry.
The stock in which the bank trade in is banking services and currency as its
major raw materials.
The bank has a
tradition for responsive and quick decision making her service delivery is
backed with the latest technology including computer system and software are
constantly updated to ensure that all transactions are handled with speed and
efficiency.
The corporate vision
of Union Bank Nigeria Plc is to be the most strong and reliable bank and most
profitable banking the commercial bank and most profitable bank in the
commercial industry.
These dreams are
already being unmanifested through volume of assets, merger and acquisition of
various commercial banks that cannot meet the mandatory N25 billion capital
base laid down by the Apex bank (CBN). Her impact on the economy and society in
general employment roll have felt nationwide.
1.9 DEFINITION
OF TERMS
Ø Performance
Appraisal: It is a process or series of
formalized discussions with an employee about performance over a specified
period of time.
Ø Manager:
A person with the task of planning, organizing, directing, coordinating and
controlling organization’s resources to attain the objectives of the
organization.
Ø Productivity:
It is the “quantity or volume of the product or service that an organization
provides” (Decenzo and Robbins, 1989).
Ø Effectiveness:
This is concerned with the art of getting the right things done, in the right
way, at the right time and for the right purpose.
Ø Efficiency:
It is concerned with achieving an objective or producing product at the least
cost to enhance organization achieves the main objective.
Ø Organization:
An enterprise established by a person or group of individuals; government in
order to provide goods and services for the satisfaction of human needs.
Ø Management:
This is the process of planning, organizing, directing and controlling both
human and non-human resources effectively and efficiently towards the
attainment of organizational goal.
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