Performance Management System of United Bank of Pakistan

TOPIC: Performance Management System of United Bank of Pakistan

Literature Review:

As Armstrong & Baron (2005) said, for rating officers in US armed services first formal method was work of Fredrick Taylor earlier World War-I. Early practice was ‘Graphic rating scales’ start off in 1920s consisting of leadership abilities, communication, reliability, devotion, creativity and people were evaluated on these characters (Stafylarakis & Eldridge, 2002). Greer (2001) criticizes that it does not judge behavior and it may not support in “developmental counseling”. The management castigation which most frequently links itself with the tenure is in Human Resources, performance management is frequently connected with the managing the performance of people (The Centre for Business Performance, Cranfield School of Management, 2001).

Performance management (PM) has been defined as a systematic procedure for improving organizational performance by developing the performance of individuals and teams (Armstrong, 2012). The Performance management is a structure through which organizations set work goals, allocate and evaluate work, determine performance standards, provide performance feedback, determine training & development needs and distribute rewards or prizes (Briscoe & Claus, 2008). Performance management practice includes performance planning, performance appraisal, performance managing, performance improvement & performance rewarding (Deb, 2009).

“Performance management ideally makes significant contribution to individual and organizational learning and helps organizational effectiveness and promotes growth” (Adhikari, 2010).

Kondrasuk (2011) said formal assessment may be defined as follows:

* A device or a method that use to evaluates the work performance of a worker.

* A discussion in the way of which evaluated the work performance of an employee and then employee is given feedback.

* A method of defining an employee’s work...