Impact and Analysis of Performance Appraisal on Employee’s Motivation and Its Effects on Employee Retention in Banking Sector in COVID-19

Muhammad Faisal; Umar Faryaz; Qamber Ali; Sana Khan

doi:doi:10.11648/j.ebm.20210705.11

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Impact and Analysis of Performance Appraisal on Employee’s Motivation and Its Effects on Employee Retention in Banking Sector in COVID-19

Muhammad Faisal, Umar Faryaz, Qamber Ali, Sana Khan

Published in European Business & Management (Volume 7, Issue 5)

Received: 26 July 2021 Accepted: 10 August 2021 Published: 10 September 2021

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Abstract

One of the core principals of Human Resource Management is Performance Appraisal and it basically is a win-win situation in both aspects because employee gains benefits in terms of rewards, bonuses and management targets and objectives are fulfilled. In this research we have analyzed performance in keeping in view of Management. For this purpose, we have conducted an empirical study of the staff members keeping in view of banking sector and data has been collected through questionnaire. We have established the relation between performance appraisal and work motivation which depends on performance appraisal types used in Banking sector and transparency of the process of performance appraisal, which is carried out are merely shared to employees only rating and appraisal letter is disseminated so therefore it impacts a downfall on employee engagement and employee gets demotivated if appraisal cycle is not conducted transparently which results in turn over. We have studied different performance methods which are implemented in organizations and tried to generate a new appraisal method keeping in view of COVID-19 and modern changes implemented in current era. We have reached out a point that employee should be educated about performance appraisal method so that it can be more effective and plays a positive role in building future leaders and increase organization profitability and maintain a healthy culture in an organization. Modern Banking has been digitalized and transformed in current era where technology plays a vital role and people get benefited in their homes due to advancement and current pandemic situation which arises it is important that smart work should be implement in combination of working from home and physical presence of employees so that organization work can be easily be done and more customer can be facilitated. We have reached at a point that employee training and education shall be prevailed related to digitalization and shall be aware about his JD and KPI’s respectively so that his appraisal can be done in an effective way which results in employee retention and organization profitability. It is concluded that combination of 360 degree appraisal and Human Resource Cost Accounting method shall be implemented as a new appraisal methodology which can be successful in keeping employee retention and playing a positive role in organization goals and objectives. If employees are not involved in financial benefit of an organization in that case we have to convert impact of his performance which results in achieving organizational goals and objectives.

Published in	European Business & Management (Volume 7, Issue 5)
DOI	10.11648/j.ebm.20210705.11
Page(s)	133-151
Creative Commons	This is an Open Access article, distributed under the terms of the Creative Commons Attribution 4.0 International License (http://creativecommons.org/licenses/by/4.0/), which permits unrestricted use, distribution and reproduction in any medium or format, provided the original work is properly cited.
Copyright	Copyright © The Author(s), 2021. Published by Science Publishing Group

Keywords

Performance Appraisal, Employee Engagement, Organization Goals and Objectives, Employees Motivation, Financial Objectives

References

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[3]	Adams, John, Khan, Hafiz T. A. and Raeside, Robert (2014) Research methods for business and social science. Sage, London, UK. ISBN 9788132113669. Management and Business Research by Smith and Thrope. http://www.uk.sagepub.com/books/Book242499.
[4]	Mark Easterby-Smith, Richard Thorpe & Paul R Jackson. (2015). Management and Business Research. SAGE Publications.
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[8]	Saba Gulzar, Dr. Avinash and Dr. Tariq. (2017). Impact of performance appraisals on employee retention. Journal of Independent Studies and Research-Management, Social Sciences and Economics. Vol. 15. No. 1.
[9]	R Pooja Dangol. (2021). Role of Performance Appraisal System and Its Impact on Employees Motivation. Vol. 2. No. 1.
[10]	Anker, T. B. (2021). At the boundary: Post COVID business and management research in Europe and beyond. European Management Journal 39 (2) 171-178.
[11]	Asfahani, A. (2021) The impact of COVID-19 on the decision making for the customer relation management in the middle east. Journal of Management and Information Decision Sciences. 24 (3) 1-11.
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[13]	SHRM (2020). Society for Human Resource Management Retrieved. https://www.shrm.org/pages/default.aspx.
[14]	Anthony Michael Bennett. (2021). Journal of Human Resource Management. Vol. 9 (3): 58-63.
[15]	Chyung, S. Y. (2005). Human performance technology: From Taylor’s scientific management to Gilbert’s behavior engineering model. Performance Improvement, 44 (1), 23–28. DOI: 10.1002/pfi.4140440109.

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APA Style

Muhammad Faisal, Umar Faryaz, Qamber Ali, Sana Khan. (2021). Impact and Analysis of Performance Appraisal on Employee’s Motivation and Its Effects on Employee Retention in Banking Sector in COVID-19. European Business & Management, 7(5), 133-151. https://doi.org/10.11648/j.ebm.20210705.11

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ACS Style

Muhammad Faisal; Umar Faryaz; Qamber Ali; Sana Khan. Impact and Analysis of Performance Appraisal on Employee’s Motivation and Its Effects on Employee Retention in Banking Sector in COVID-19. Eur. Bus. Manag. 2021, 7(5), 133-151. doi: 10.11648/j.ebm.20210705.11

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AMA Style

Muhammad Faisal, Umar Faryaz, Qamber Ali, Sana Khan. Impact and Analysis of Performance Appraisal on Employee’s Motivation and Its Effects on Employee Retention in Banking Sector in COVID-19. Eur Bus Manag. 2021;7(5):133-151. doi: 10.11648/j.ebm.20210705.11

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@article{10.11648/j.ebm.20210705.11,
  author = {Muhammad Faisal and Umar Faryaz and Qamber Ali and Sana Khan},
  title = {Impact and Analysis of Performance Appraisal on Employee’s Motivation and Its Effects on Employee Retention in Banking Sector in COVID-19},
  journal = {European Business & Management},
  volume = {7},
  number = {5},
  pages = {133-151},
  doi = {10.11648/j.ebm.20210705.11},
  url = {https://doi.org/10.11648/j.ebm.20210705.11},
  eprint = {https://article.sciencepublishinggroup.com/pdf/10.11648.j.ebm.20210705.11},
  abstract = {One of the core principals of Human Resource Management is Performance Appraisal and it basically is a win-win situation in both aspects because employee gains benefits in terms of rewards, bonuses and management targets and objectives are fulfilled. In this research we have analyzed performance in keeping in view of Management. For this purpose, we have conducted an empirical study of the staff members keeping in view of banking sector and data has been collected through questionnaire. We have established the relation between performance appraisal and work motivation which depends on performance appraisal types used in Banking sector and transparency of the process of performance appraisal, which is carried out are merely shared to employees only rating and appraisal letter is disseminated so therefore it impacts a downfall on employee engagement and employee gets demotivated if appraisal cycle is not conducted transparently which results in turn over. We have studied different performance methods which are implemented in organizations and tried to generate a new appraisal method keeping in view of COVID-19 and modern changes implemented in current era. We have reached out a point that employee should be educated about performance appraisal method so that it can be more effective and plays a positive role in building future leaders and increase organization profitability and maintain a healthy culture in an organization. Modern Banking has been digitalized and transformed in current era where technology plays a vital role and people get benefited in their homes due to advancement and current pandemic situation which arises it is important that smart work should be implement in combination of working from home and physical presence of employees so that organization work can be easily be done and more customer can be facilitated. We have reached at a point that employee training and education shall be prevailed related to digitalization and shall be aware about his JD and KPI’s respectively so that his appraisal can be done in an effective way which results in employee retention and organization profitability. It is concluded that combination of 360 degree appraisal and Human Resource Cost Accounting method shall be implemented as a new appraisal methodology which can be successful in keeping employee retention and playing a positive role in organization goals and objectives. If employees are not involved in financial benefit of an organization in that case we have to convert impact of his performance which results in achieving organizational goals and objectives.},
 year = {2021}
}

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TY  - JOUR
T1  - Impact and Analysis of Performance Appraisal on Employee’s Motivation and Its Effects on Employee Retention in Banking Sector in COVID-19
AU  - Muhammad Faisal
AU  - Umar Faryaz
AU  - Qamber Ali
AU  - Sana Khan
Y1  - 2021/09/10
PY  - 2021
N1  - https://doi.org/10.11648/j.ebm.20210705.11
DO  - 10.11648/j.ebm.20210705.11
T2  - European Business & Management
JF  - European Business & Management
JO  - European Business & Management
SP  - 133
EP  - 151
PB  - Science Publishing Group
SN  - 2575-5811
UR  - https://doi.org/10.11648/j.ebm.20210705.11
AB  - One of the core principals of Human Resource Management is Performance Appraisal and it basically is a win-win situation in both aspects because employee gains benefits in terms of rewards, bonuses and management targets and objectives are fulfilled. In this research we have analyzed performance in keeping in view of Management. For this purpose, we have conducted an empirical study of the staff members keeping in view of banking sector and data has been collected through questionnaire. We have established the relation between performance appraisal and work motivation which depends on performance appraisal types used in Banking sector and transparency of the process of performance appraisal, which is carried out are merely shared to employees only rating and appraisal letter is disseminated so therefore it impacts a downfall on employee engagement and employee gets demotivated if appraisal cycle is not conducted transparently which results in turn over. We have studied different performance methods which are implemented in organizations and tried to generate a new appraisal method keeping in view of COVID-19 and modern changes implemented in current era. We have reached out a point that employee should be educated about performance appraisal method so that it can be more effective and plays a positive role in building future leaders and increase organization profitability and maintain a healthy culture in an organization. Modern Banking has been digitalized and transformed in current era where technology plays a vital role and people get benefited in their homes due to advancement and current pandemic situation which arises it is important that smart work should be implement in combination of working from home and physical presence of employees so that organization work can be easily be done and more customer can be facilitated. We have reached at a point that employee training and education shall be prevailed related to digitalization and shall be aware about his JD and KPI’s respectively so that his appraisal can be done in an effective way which results in employee retention and organization profitability. It is concluded that combination of 360 degree appraisal and Human Resource Cost Accounting method shall be implemented as a new appraisal methodology which can be successful in keeping employee retention and playing a positive role in organization goals and objectives. If employees are not involved in financial benefit of an organization in that case we have to convert impact of his performance which results in achieving organizational goals and objectives.
VL  - 7
IS  - 5
ER  -

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Author Information

Muhammad Faisal

College of Business Management, Institute of Business Management, Karachi, Pakistan
Umar Faryaz

Department of Mathematics, NED University, Karachi, Pakistan
Qamber Ali

Department of Business Administration, Iqra University, Karachi, Pakistan
Sana Khan

Department of Business and Management Sciences, Superior University, Lahore, Pakistan

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APA Style

Muhammad Faisal, Umar Faryaz, Qamber Ali, Sana Khan. (2021). Impact and Analysis of Performance Appraisal on Employee’s Motivation and Its Effects on Employee Retention in Banking Sector in COVID-19. European Business & Management, 7(5), 133-151. https://doi.org/10.11648/j.ebm.20210705.11

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ACS Style

Muhammad Faisal; Umar Faryaz; Qamber Ali; Sana Khan. Impact and Analysis of Performance Appraisal on Employee’s Motivation and Its Effects on Employee Retention in Banking Sector in COVID-19. Eur. Bus. Manag. 2021, 7(5), 133-151. doi: 10.11648/j.ebm.20210705.11

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AMA Style

Muhammad Faisal, Umar Faryaz, Qamber Ali, Sana Khan. Impact and Analysis of Performance Appraisal on Employee’s Motivation and Its Effects on Employee Retention in Banking Sector in COVID-19. Eur Bus Manag. 2021;7(5):133-151. doi: 10.11648/j.ebm.20210705.11

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@article{10.11648/j.ebm.20210705.11,
  author = {Muhammad Faisal and Umar Faryaz and Qamber Ali and Sana Khan},
  title = {Impact and Analysis of Performance Appraisal on Employee’s Motivation and Its Effects on Employee Retention in Banking Sector in COVID-19},
  journal = {European Business & Management},
  volume = {7},
  number = {5},
  pages = {133-151},
  doi = {10.11648/j.ebm.20210705.11},
  url = {https://doi.org/10.11648/j.ebm.20210705.11},
  eprint = {https://article.sciencepublishinggroup.com/pdf/10.11648.j.ebm.20210705.11},
  abstract = {One of the core principals of Human Resource Management is Performance Appraisal and it basically is a win-win situation in both aspects because employee gains benefits in terms of rewards, bonuses and management targets and objectives are fulfilled. In this research we have analyzed performance in keeping in view of Management. For this purpose, we have conducted an empirical study of the staff members keeping in view of banking sector and data has been collected through questionnaire. We have established the relation between performance appraisal and work motivation which depends on performance appraisal types used in Banking sector and transparency of the process of performance appraisal, which is carried out are merely shared to employees only rating and appraisal letter is disseminated so therefore it impacts a downfall on employee engagement and employee gets demotivated if appraisal cycle is not conducted transparently which results in turn over. We have studied different performance methods which are implemented in organizations and tried to generate a new appraisal method keeping in view of COVID-19 and modern changes implemented in current era. We have reached out a point that employee should be educated about performance appraisal method so that it can be more effective and plays a positive role in building future leaders and increase organization profitability and maintain a healthy culture in an organization. Modern Banking has been digitalized and transformed in current era where technology plays a vital role and people get benefited in their homes due to advancement and current pandemic situation which arises it is important that smart work should be implement in combination of working from home and physical presence of employees so that organization work can be easily be done and more customer can be facilitated. We have reached at a point that employee training and education shall be prevailed related to digitalization and shall be aware about his JD and KPI’s respectively so that his appraisal can be done in an effective way which results in employee retention and organization profitability. It is concluded that combination of 360 degree appraisal and Human Resource Cost Accounting method shall be implemented as a new appraisal methodology which can be successful in keeping employee retention and playing a positive role in organization goals and objectives. If employees are not involved in financial benefit of an organization in that case we have to convert impact of his performance which results in achieving organizational goals and objectives.},
 year = {2021}
}

Copy | Download

TY  - JOUR
T1  - Impact and Analysis of Performance Appraisal on Employee’s Motivation and Its Effects on Employee Retention in Banking Sector in COVID-19
AU  - Muhammad Faisal
AU  - Umar Faryaz
AU  - Qamber Ali
AU  - Sana Khan
Y1  - 2021/09/10
PY  - 2021
N1  - https://doi.org/10.11648/j.ebm.20210705.11
DO  - 10.11648/j.ebm.20210705.11
T2  - European Business & Management
JF  - European Business & Management
JO  - European Business & Management
SP  - 133
EP  - 151
PB  - Science Publishing Group
SN  - 2575-5811
UR  - https://doi.org/10.11648/j.ebm.20210705.11
AB  - One of the core principals of Human Resource Management is Performance Appraisal and it basically is a win-win situation in both aspects because employee gains benefits in terms of rewards, bonuses and management targets and objectives are fulfilled. In this research we have analyzed performance in keeping in view of Management. For this purpose, we have conducted an empirical study of the staff members keeping in view of banking sector and data has been collected through questionnaire. We have established the relation between performance appraisal and work motivation which depends on performance appraisal types used in Banking sector and transparency of the process of performance appraisal, which is carried out are merely shared to employees only rating and appraisal letter is disseminated so therefore it impacts a downfall on employee engagement and employee gets demotivated if appraisal cycle is not conducted transparently which results in turn over. We have studied different performance methods which are implemented in organizations and tried to generate a new appraisal method keeping in view of COVID-19 and modern changes implemented in current era. We have reached out a point that employee should be educated about performance appraisal method so that it can be more effective and plays a positive role in building future leaders and increase organization profitability and maintain a healthy culture in an organization. Modern Banking has been digitalized and transformed in current era where technology plays a vital role and people get benefited in their homes due to advancement and current pandemic situation which arises it is important that smart work should be implement in combination of working from home and physical presence of employees so that organization work can be easily be done and more customer can be facilitated. We have reached at a point that employee training and education shall be prevailed related to digitalization and shall be aware about his JD and KPI’s respectively so that his appraisal can be done in an effective way which results in employee retention and organization profitability. It is concluded that combination of 360 degree appraisal and Human Resource Cost Accounting method shall be implemented as a new appraisal methodology which can be successful in keeping employee retention and playing a positive role in organization goals and objectives. If employees are not involved in financial benefit of an organization in that case we have to convert impact of his performance which results in achieving organizational goals and objectives.
VL  - 7
IS  - 5
ER  -

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