Study on Performance Appraisal

Table of Contents

1. Overview of the Company 2

2. Objectives of Human Resource Department 3

3. Human Resource Management - Organizational Structure 3

4. Selected Problem – Performance Evaluation 4

5. Current Performance Evaluation Process 4

6. Discussion 11

7. References 13

1. Overview of the Company

The bank discussed in the case (Referred as Premier Bank here onwards) is a prestigious financial institute with more than sixty branches in Sri Lanka which has two subsidiary companies. Premier bank is currently employing over 1000 staff (including executive and non executive staff), and is also among one of the largest companies listed in the Colombo Stock Exchange.

This company was established over 20 years ago. From its inception the Premier bank underwent several changes from being a non-listed company to a listed Company. Today the company provides facilities and services to its customers, which some of them are firstly introduced to the country.

Before restructuring, the bank adhered to the rules and regulations applicable to any financial institute. After restructuring, the bank introduced a different set of rules and regulations to its employees according to the rules and regulations which were practiced by many leading banks under the guidance of the Central bank of Sri Lanka

With the restructuring in 2011 as well as shareholders demand for performance and profits, there was significant impact on many changes in operations in the company including Human Resource Planning. Competition is also another external influencing factor for these changes. Mainly the bank had to change the working culture, motivating employees to be more effective and efficient, market sensitive and highly customer focused. This was not an easy challenge for Human Resource Group of the company. They have implemented voluntary retirement scheme to reduce the overstaffing problem and to achieve the efficiency. Employees were trained...