ANALYZING PERFORMANCE APPRAISAL TECHNIQUES IN UNION BANK NIG PLC

ANALYZING PERFORMANCE APPRAISAL TECHNIQUES IN UNION BANK NIG PLC

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 staing
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 elective 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.

ANALYZING PERFORMANCE APPRAISAL TECHNIQUES IN UNION BANK NIG PLC