THE IMPACT OF PERFORMANCE APPRAISAL ON EMPLOYEE’S PRODUCTIVITY (A CASE OF FIRST BANK NIGERIA PLC, IKPOBA HILL BRANCH, BENIN CITY)

ABSTRACT

Performance appraisal has emerged as a tool for enhancing organizational growth and professional development. To this effect, this research focus on the impact the appraisal exercise have on employee performance using First Bank of Nigeria Plc, Ikpoba Hill branch, Benin City as a study. Key performance indicators investigated includes the efficacy of the available performance appraisal strategies in enhancing self-efficacy and motivation of employees in the overall satisfaction of organisational goals. The research used a qualitative approach buttressed by the interpretive, phenomenological or constructive philosophy that gives precedence to the subjective state of the employee’s mind and the meaning attached to data collected rather than the measurement of parameters. Data collection was done through questionnaires and follow up calls using a sample size of 100 respondents for which 96 of the 100 questionnaires distributed was valid for the research. Findings suggest that performance appraisal leveraged by employee assessment; career and professional development, feedback and benefits are valid ingredients of enhanced employee performance in an organisation. The theoretical assumptions of the research, therefore, tilted towards the proponents of performance appraisal as a vital tool for promoting personal and organizational growth. Recommendations made include regular appraisal exercises, quality and timely feedback information, and a more robust reward system as effective motivational factors to enhancing employee performance at all levels. The research also recommended the adoption of the experimental 360 degree feedback used in the Bank as a substantial performance appraisal method.