Performance Appraisal System in Public Sector Banks

Abstract

Public sector banks at all strata – Big Public sector banks, Medium Public sector banks and Small Public sector banks are emphasizing the importance of PAS. It is only through proper implementation of Performance Management System, quality workforce can be retained. Usually a separate Independent Agency is appointed to evaluate the performance of the employees which is usually carried out online. The returns are based on the contribution of the employees to the organisation in the form of performance. The primary objective of performance evaluation is to identify the employees‟ strengths and weaknesses in order to reinforce the strengths and to develop methods and tools to improve upon weakness areas. Job profiles are to be clearly defined with respect to factors, criteria and measurement. In Performance Management Process, Career Counseling is done to align the individual goals with business goals. Individual employees are imbibed with best skills to fit in future vacancies and to develop leadership capabilities. All these are carried over to make the Public sector banks the Employer of Choice. This is backed by cohesive, competent and committed HR team. HR team with Business managers accomplishes organisational objectives. People‟s vision and values are understood before proceeding to place them on the job. Public sector banks are mainly performance-oriented through rewarding best performers, applying process and systems approach and providing opportunity for continuous improvement.