IIARD International Institute of Academic Research and Development

IIARD International Journal of Economics and Business Management (IJEBM )

E-ISSN 2489-0065
P-ISSN 2695-186X
VOL. 7 NO. 3 2021

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Effect of Performance Management System on Employee’s Performance of First Bank and Zenith Bank of Nigerian Plc (2012 – 2017)

Augustine Okeorji Ogbonna & Gideon Ahamefula Emerole (Ph.D)

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Abstract

The study evaluates the effects of performance management system on employees’ performance of First Bank and Zenith Bank Nigerian Plc, (2012-2017). The specific objectives of the study were to: ascertain the effect of performance evaluation on employees’ performance, ascertain the effect of training and development on employees’ performance and find out the impact of organisational reward and compensation on employees’ performance in First Bank and Zenith Bank Nigeria Plc. The study adopted survey research approach. The population of the study consists of employees in First Bank and Zenith Bank Nigerian Plc Abia State branches. Primary and secondary data were used. Stated objectives were analysed using descriptive statistics, Multiple Regression analysis were used to test the hypotheses. Major findings revealed that: performance evaluation of First Bank and Zenith Bank Nigerian Plc have positive effects on their employees’ performance. Training and development programmes of First Bank and Zenith Bank Nigerian Plc have positive effects on their employees’ performance, and reward and compensation system of First Bank and Zenith Bank Nigerian Plc have positive impacts on their employees’ performance. The study concluded that performance management have a significant and positive effects on employees’ performance in First Bank and Zenith Bank Nigerian Plc within the periods covered by the study. The study recommended that First Bank and Zenith Bank Plc should constantly review their training and development programmes to ensure that these programmes are in attune with current developments in the sector in order to update their employees skills with the speed of development in the sector. The need for bank management to regularly review their remuneration packages to reflect current economic realities were also highlighted. Every organisation performs its task with the help of resources as men, machine, materials and money. Except human resource, other resources are inan

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