ASSESSING THE EFFECTIVENESS OF INTEGRATED PERFORMANCE MANAGEMENT SYSTEM IN THE CASE OF WEGAGEN BANK SC.

Abstract

Performance management is a continuous process of identifying, measuring and developing the performance of individuals and teams and aligning performance with the strategic goals of the organization (Aguinis,2013,p.2). This study offered information on assessment of the effectiveness integrated performance management specifically focuses on Wegagn Bank. Wegagen Bank, in the past, employed a staff appraisal system that was more reliant on behavioral issues than result orientation. The staff appraisal was heavily dependent on the interactions between an evaluator and the subordinate being appraised. Though personal interactions are highly desirable in any performance management system, it fails to facilitate the integration between employees and the bank’s corporate objectives. To this end, Wegagen Bank had adopted and implemented a new performance management system called an Integrated Performance Management System (IPMS) with aim of introducing result based PM system that has the strategic objectives at its core. (Wegagen, Bank 2016/17) Primary data were collected through questionnaire and interview.302 questioners were distributed to selected employees and out of these 298 were properly filled and returned. The data were analyzed using descriptive method .Interview was held with the director of corporate strategies and change management and Manager Talent division. The finding of the study revealed that luck of top management commitment, and data tracking system was manual, absence of integrated performance system guideline, luck of competency framework dictionary; recognition is not based on the result etc. Based on the findings, the researcher recommended the bank arrange awareness creation session to all employees, automate its data tracking system, allocate integrated performance management system guideline and competency framework dictionary in convenient place where all employees can access etc….. The study concludes that a Effectiveness of a IPMS program is dependent on the strength of the design and implementation methods. Current literature on PM reveals that an effective performance management is based on Simplistic and user friendly; Communicates vision of its objectives; Considers competency as part of its components; Sets measurable and realistic targets; Conducts formal review of progress towards targets; Manages performance; Evaluates the whole performance management process for continuous improvement Key word (Integrated Performance Management System)