CHAPTER ONE
INTRODUCTION
1.1 Background of the Study
Performance Appraisal is a major subject of controversy in management circles. While business leaders see the need for appraisal systems, they are frequently disappointed in them. One of the responsibilities of management is to ensure that an organization functions effectively and efficiently. In order to achieve these goals, managers must be able to determine and assess performance levels of both an organization and its individual employees (Kurt 2004).
Modern businesses depend upon measurement and analysis of performance. Measurements must derive from the company’s strategy and provide critical data and information about key processes, outputs and results. Data and analysis support a variety of company purposes, such as planning, reviewing company performance, improving operations, and comparing company performance with competitors’ or with ‘best practices’ benchmarks (Averson, 1998).
1.2 Statement of the problem
Performance appraisal provides a good opportunity to formally recognize employees’ achievements and contributions to the organization, and to ensure that a clear link is established and maintained between performance and reward. Employees of First Bank Plc in recent times have been accused of high level of inefficiencies in the discharge of their duties by the general public. However, it was recently that research had revealed the deplorable working conditions under which financial professionals’ work. Poor infrastructure, inadequate logistics and equipment, poor remuneration and inadequate reward system have always led to the low level of public confidence and respect in the financial institutions.
The situation had further resulted in ripple effects of poor performance, low morale and lack of discipline in the service vis-a-vis the theories on performance appraisal. Given the challenges earlier enumerated to be facing employees in First Bank Plc, particularly employees of Uyo Branch in Nigeria.
1.4 Objectives of the Study
An effective performance appraisal programme would assist an organization to achieve its goals and goals. It would lead to enhanced communication, employees professional development, improved employee morale and help identify training needs of the employees. A well-developed staff are more likely to be proactive, productive and resourceful, all of which help give the organization a competitive edge from improved customer relations to increased profits.
Specific goals for the study were to find out:
1.5 Research questions
The following research questions formed the basis upon which the study was conducted:
1.6 Significance of the study
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