Performance Appraisal of Union Bank: Introduction To Banking Sector
Performance Appraisal of Union Bank: Introduction To Banking Sector
Performance Appraisal of Union Bank: Introduction To Banking Sector
CHAPTER I
Introduction to Banking Sector
Banking can be defined in various ways as the definition of the bank varies from country to
country and keeps on changing on the basis of the activities carried out by the banks. In
present dynamic business scenario, banking can be defined as the activities carried out with
the bank on individual or corporate level. We can understand the concept of the banking by
looking into the activities of the bank.
A bank is a well regularized and licensed financial institute to assist the individual and
corporate customer in their financial needs. Normally banks provide the following services to
its retail (individual) and corporate clients:
Transactional services,
Investment services,
Fixed deposit ,
Letter of credit ,
Treasury services ,
Bill of exchange ,
Foreign exchange ,
Letter of guarantee,
Performance bond ,
Project financing ,
Personal loan ,
Credit card ,
by
the
regulator
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Making sure that employees abilities are correctly and optimally nurtured is essential to
seeing a worthwhile return on investment come from their contribution to the company, once
their training period is over. Along with employee training, human resources departments also
delve into the area of applicant tracking. How to find the best talent available on the global
labor market place is often a problem that the human resources department will strive to
tackle. In addition, human resources departments take care of a variety of concerns such as
labor relations the crucial and highly sensitive negotiations between employees and
management the production of job descriptions, the monitoring of interplay between
workers in order to design a more efficient employee management system, the compilation of
benefits packages as well as a variety of other vital functions that relate directly to the
employee workforce Organizational Psychology holds that successful organizations do not
owe their success solely to market realities and sustainable competitive advantages. Actually,
there is a lot more. Successful companies are those that consider their human capital as their
most important asset. Facts and figures are the quantitative elements of successful
management, yet the qualitative, i.e. the cognitive aspects, are those that actually make or
break an organization.Human Resources Management (HRM) is the strategic management of
the employees, who individually and collectively contribute to the achievement of the
strategic objectives of the organization. Assuming that the employees of an organization are
individuals with own mental maps and perceptions, own goals and own personalities and as
such they cannot be perceived as a whole, HRM holds that the organization should be able to
employ both individual and group psychology in order to commit employees to the
achievement of organizational goals.Aiming to enable the organization to achieve its strategic
goals by attracting, retaining and developing employees, HRM functions as the link between
the organization and the employees. A company should first become aware of the needs of its
employees, and at a later stage, understand and evaluate these needs in order to make its
employees perceive their job as a part of their personal life, and not as a routine obligation.
To that end, HRM is very crucial for the whole function of an organization because it assists
the organization to create loyal employees, who are ready to offer their best.The HRM
activities in modern organizations are typically performed in communication with the General
Management in an effort to provide a variety of views when a decision must be taken. In that
way, decision making is not subject to the individual perceptions of the HR or the General
Manager, but it becomes the outcome of strategic consensus.
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Current trends in HR
Human resource management is a process of bringing people and organizations together so
that the goals of each other are met. The role of HR manager is shifting from that of a
protector and screener to the role of a planner and change agent. Personnel directors are the
new corporate heroes. The name of the game today in business is personnel. Nowadays it is
not possible to show a good financial or operating report unless your personnel relations are
in order.Over the years, highly skilled and knowledge based jobs are increasing while low
skilled jobs are decreasing. This calls for future skill mapping through proper HRM
initiatives.Indian organizations are also witnessing a change in systems, management cultures
and philosophy due to the global alignment of Indian organizations. There is a need for multi
skill development. Role of HRM is becoming all the more important.
Functions of H. R
1. Recruitment & Selection
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cover
take
assessment
care
of
of
performance
organizational
as
as
well
well
as
potential
as
for
individual
development;
needs;
and
rewards
with
achievements,
- generating information for the growth of the employee as well as of the organization,
- suggesting appropriate person-task matching and career plans.
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(a)
know
the
behavior
and
personal
characteristics
of
each
employee;
and
(vi) Feedback
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what
Judgement
to Appraising
evaluate
performance
Policy
Organization
how
organization
culture
SYMPTOMS
Ambiguity
roles
responsibilities
each job
Official review
changes ratings
fails
to
managers
who
excellent
in
assessment
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are
staff
and
plain
Managers
about
com
time
difficult
to grievances,
quantify
Appeals, development
accusations of bias,
discrimination
No
clear
needed
to
the
salary increases
not
the
designers,
statement of overall
users
objectives of units or
the organization
Personnel/HR
specialists
take
Appraisal contains
only
role
numerical
indices
system
revised
frequently
POTENTIAL CURES
Job analysis and
credible
description
criteria
Outcomes of each
job identified
Overall goals set
time
Appraisal itself
Performance
Management (PM)
Polices
for
Performance
Appraisal consistently
applied
Effective
documented communication
judgements
practice
Train managers to
make
Performance
over
uses Performance
Performance
documented
of
Implement
performance-
contingent
system operates
performance
expectations
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reward
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OPTIONS
NO OF
RESPONDENT(SAMPL
E SIZE 50)
PERCENTAGE
42
84%
14%
2%
VERY MUCH
SOME WHAT
DONT KNOW
90
80
70
60
50
40
30
20
10
0
very much
some what
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don't know
OPTIONS
NOS OF
RESPONDENT(Sampl
e size 50)
YES
38
76%
NO
10
20%
DONT KNOW
4%
PERCENTAGE
80
70
60
50
40
30
20
10
0
yes
no
don't know
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OPTIONS
NOS OF
RESPONDENT(Sample
size 50)
PERCENTAGE
YES
39
78%
NO
11
22%
90
80
70
60
50
40
30
20
10
0
yes
no
INTERPRITATION-: 78% Employees say that yes organized meetings helps goal
and task. While the other 22% employees that is not very much helpful.
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NOS OF
RESPONDENT (Sample
size 50)
PERCENTAGE
YES
40
80%
NO
10
20%
90
80
70
60
50
40
30
20
10
0
yes
no
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OPTIONS
NOS OF
RESPONDENT(Sample
size 50)
PERCENTAGE
FULLY SATISFIED
20
40%
SATISFIED
26
52%
DISSATISFIED
4%
UNCERTAIN
4%
60
50
40
30
20
10
0
fully satisfied
satisfied
dissatisfied
uncertain
INTERPRITATION-: 40% Employees are fully satisfied for point allocation on the
basis of KRAs and managerial dimension.
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OPTIONS
NOS OF
RESPONDENT(Sampl
e size 50)
PERCENTAGE
YES
42
84%
NO
16%
90
80
70
60
50
40
30
20
10
0
yes
no
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OPTIONS
NOS OF
RESPONDENT(Sampl
e size 50)
PERCENTAGE
YES
47
94%
NO
6%
100
90
80
70
60
50
40
30
20
10
0
yes
no
INTERPRITATION-: 94% Employees say that yes the appraisal system is able to
develop high result orientation approach. While the other 6% employees do not agree
with us.
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OPTIONS
NOS OF
RESPONDENT(Sampl
e size 50)
36
PERCENTAGE
72%
YES
10
20%
8%
NO
DONT KNOW
80
70
60
50
40
30
20
10
0
yes
no
don't know
INTERPRITATION-: 72% employees think that the systems will also Contribution
in potential appraisal.
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OPTIONS
NOS OF
RESPONDENT(Sampl
e size 50)
PERCENTAGE
PERFORMANCE
4%
EXPERIENCE
12%
BOTH
42
84%
90
80
70
60
50
40
30
20
10
0
Performance
experience
both
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OPTIONS
NOS OF
RESPONDENT(Sample
size 50)
PERCENTAGE
YES
42
84%
NO
16%
90
80
70
60
50
40
30
20
10
0
YES
NO
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OPTIONS
NOS OF
RESPONDENT(Sample
size 50)
HIGHLY SATISFIED
27
54%
SATISFIED
18
36%
DISSATISFIED
2%
JUST SATISFIED
8%
60
50
40
30
20
10
0
Highly satisfied
Satisfied
Dissatisfied
Just satisfied
INTERPRITATION-: 54% Employees are highly satisfied with the current Performance
appraisal system. While 36% employees are satisfied with the current performance appraisal
system.
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a) Very much
b) Some what
c) Dont know
a) Yes
b) No
c) Cant say
3) Do you hold meeting in the beginning of the explain & clarify activity task & goals to be
achieved?
a) Yes
b) No
a) Yes
b) No
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a) Fully satisfied
b) Satisfied
c) Dissatisfied
d) Uncertain
a) Yes
b) No
a) Yes
b) No
8) Do you think that the system wills also contribution in potential appraisal?
a) Yes
b) No
c) Cant say
a) Performance
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10) Do you think that the present that the present performance appraisal system is transparent &
free bias?
a) Yes
b) No
11) Are you satisfied with the current performance appraisal system?
a) Highly satisfied
b) Satisfied
c) Just satisfied
d) Dissatisfied
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