Implementation and Effectiveness of Performance Management System in Alfalah Bank

Abstract

Orientation:Performance Management issues like implementation of PM and its effectiveness on the system of Bank Alfalah is discussed through this exploratory study. And also researchers have suggested the solutions to remove the hurdles faced by banking sector in Pakistan for implementation of ideal Performance management.

Abstract:The basic purpose of this study is to provide edge to organization by providing practical solutions and recommendations so that firms can choose the best option. And in this way they can improve their evaluation system. This research is done to highlight the importance of performance management and also to study scope and effectiveness of performance management system in Alfalah Bank.

Methodology:Qualitative research methodology has been used by researcher. Through this qualitative technique data is collected and analyzed. To identify the PM issues structured interviews were conducted from the employees related with different departments of Alfalah Bank.

Findings:The research findings have shown that the employees of Alfalah bank have facing the problem of dissatisfaction from their current performance management and also the current performance management system of Alfalah bank lacks motivation and proper reward system. So for resolution of these issues researcher has recommended direction and guidelines to improve the performance management system.

Practical implications:This research can be used by HR managers for identification and resolution of issues related to evaluation of employees. The current study can be used for further research and also become the basis to provide literature review for future research.

Significance:Through this study reader can critically analyze the improvement in performance management Practices. This study shows the practical implications of recommended practices in actual business situations. This study has explored the issues (weaknesses) related with performance management in banking sector. Also the recommendation and suggestions are provided. On the basis of this study other organizations will also get the direction and guidelines to improve the performance management.