Performance measurement is the degree to which the performance of the employees is measured against a certain predetermined standards. This is done to achieve the objectives of the business. Performance is defined as the role the employee has in the organisation, and the inspection of their activities and work. Critically it is the assessment of the work of the employees on all dimensions. The banks serve wider section of the people with their products and services and the employees work hard to meet the needs and demands of the people of the society (Bititci and MacBryde, 2002). The employees need to constantly upgrade their skill and performances in order to meet the needs of the banks to serve its customers. Though in case of big banks like Banque du Caire it is not possible to evaluate the performances of all the employees it is done on a particular branch of the bank .
Performance appraisal helps in the success of the organization in meeting the strategic purpose and also to increase the effectiveness of the working processes by continuous improvement of the performance of the individuals and also to focus on the weak areas that could be improved. It is also considered be an important aspect of the human resource management in both the public and the private sector of the organisation. Further it is used to measure the efficiency and the effectiveness of the employees.
Performance appraisal is needed for the following purpose:
To increase the motivation to execute effectively
To increase the self-esteem of the staff
To gain a new insight into supervisors and staff
To distribute rewards based on a credible and fair basis
To develop valuable communication system among the participants
The bank was founded in the year 1952. The bank from its inception which was 62 years ago has been a major contributor to the economy of Egypt. The bank is one of the top banks in Egypt and has continuously supported the national economy of the country. The bank has their headquarters in Cairo. To date the bank has 228 branches in the whole country. Outside the country the bank has offices in Zimbabwe, Harare to name a few. The bank is owned by the government of Egypt. The bank ensures the easy access to its customers to the products as well as the services through the extensive networks it provides (Banqueducaire.com, 2015). The bank has 424 ATMs spread across the whole country. The bank is trying hard to improve the standards of its management, services and products as well as the corporate governance of the company. The bank also provides exclusive training programs to its employees to maintain the level of performances of the employees of the bank (Friedlob, Schleifer and Plewa, 2002). The bank offers various innovative and competitive products in the retail sector. In the corporate sector the bank tries to fund the various sectors by giving syndicated loans and also financing the microfinance projects.
The project report deals with the performance appraisal of the employees and how the performance is measured in the banks. It is also seen on which basis the employees are evaluated in the bank. The steps taken by the bank to improve the performance of the employees are also discussed in the project. The purpose of this project is to measure the performance of th employees who work in the Banque du Caire. The employees of the bank were surveyed and interviewed (Banque Du Caire Performance Report, 2012). It was seen that the employee relationship, salary, promotion has little to do with the performance of the employees whereas motivation and institutional belonging has a more influence on the performance of the employees. Big organisations like the bank the performance measurement is carried out in the branches or the head office. Managing the performance of the employees has become a very important factor for a long time and has recently gained large attention (Chompukum, 2015). It is due to the fact of the increasing competitiveness of the business environment. It also increases the financial performances of the bank.
The objective of the research can be summarised as:
To identify how the performance is measured at the Bank.
To critically evaluate the employee's perception of performance measurements.
To identify any potential areas to improve the performance measurements to raise the level of satisfaction
A Research Question
To find out how the employees rate their perception of the performance, and how the bank measures the performance of the employees we have formulated a question based on which the study was carried out (Cipd.co.uk, 2015). The guiding question is:
How is communication and monetary benefits helpful in raising the level of performance of the employees?
The employees are benefitted from the raise in their income and if they are promoted. It leads to an improvement in their personal career. The employees are motivated to work even harder and their performance improves.
The bank pays more importance and attention to the communication of the bank with the employees so as to improve the procedures of the work and for the identification of the needs and the problems of the employees. This is done to inspire the employees to perform better and to speak up their problems to the management. More over meetings are held once in a month to discuss the ideas suggested by the employees on various subjects by all level of the employees. This is done to increase the efficiency of the employees and motivate them. The employees’ performance improves if they feel that the management is there to understand their problems. This makes them the employees feel associated with the bank (KAZAN and GUMUS, 2015).
This has improved how the employees rate their company in terms of job satisfaction. The employees adhere to all the ethical standards of the company. The employees also take personal responsibility to perform well in the job and that their performance is upgraded as well as their personal integrity is improved (The Effect of Employees’ Perception of Performance Appraisal on Their Work Outcomes, 2015). The employees try to stay true to the mission so that they meet the customer expectation and may even give better performance to the employees.
Banque Du Caire Performance Report. (2012). 1st ed. [ebook] Available at: https://www.banqueducaire.com/English/Reports/Reports/BDC%20Performance%20Report,%20FY%20December%202012.pdf [Accessed 28 Feb. 2015].
Banqueducaire.com, (2015). About BDC Banque Du Caire -. [online] Available at: https://www.banqueducaire.com/English/AboutBDC/Pages/AboutBDCHome.aspx [Accessed 28 Feb. 2015].
Bititci, U. and MacBryde, J. (2002). Performance measurement. Bradford, England: Emerald Group Pub.
Chompukum, P. (2015). Performance management effectiveness in Thai banking industry:. 1st ed. [ebook] Available at: https://www.aabri.com/manuscripts/111040.pdf [Accessed 28 Feb. 2015].
Cipd.co.uk, (2015). Performance management: an overview - Factsheets - CIPD. [online] Available at: https://www.cipd.co.uk/hr-resources/factsheets/performance-management-overview.aspx [Accessed 28 Feb. 2015].
Friedlob, G., Schleifer, L. and Plewa, F. (2002). Essentials of corporate performance measurement. New York: Wiley.
KAZAN, H. and GUMUS, S. (2015). Measurement of Employees' Performance: A State Bank Application. 1st ed. [ebook] Available at: https://irmbrjournal.com/papers/1371454134.pdf [Accessed 28 Feb. 2015].
The Effect of Employees’ Perception of Performance Appraisal on Their Work Outcomes. (2015). 1st ed. [ebook] Available at: https://file:///C:/Users/User/Downloads/The%20Effect%20of%20Employees%20Perception%20-452.pdf [Accessed 28 Feb. 2015].
At MyAssignmenthelp.com, we are committed to deliver quality assignment assistance in the fastest way possible. To make our service delivery fast, we have hired subject matter experts to work on different subject specific assignments. We have hired experts who owe in-depth knowledge in their respective subjects. As per their expertise, they provide geography assignment help, Physics assignment help, Strategic assignment help, history assignment help, art architecture assignment help and assistance with other subjects as well.
You are required to write a researched argument essay that convinces persuades the reader of your position / stance. This is an academic, researched and referenced do...Read More
Executive Summary The purpose of this report is to elaborate the factors which are considered by individuals before selecting an occupation. Choosing an occupati...Read More
Introduction With the increase enhancement in the field of technology, it has been considered essential by the businesses to implement such technology in their b...Read More
Executive Summary In a merger & acquisition, role of an HR has emerged as a very critical function. At each stage of merger and acquisition process, HR plays a s...Read More
Introduction In this competitive business environment where every business organization is trying to attract the customers of each other, it becomes essential for ...Read More