Analysis of Performance Management System in Pakistan Banking Industry

Author(s)

Humera Asrar , Muhammad Rizwan , Sohail Pasha , Waqar Uddin Usmani ,

Download Full PDF Pages: 01-05 | Views: 366 | Downloads: 102 | DOI: 10.5281/zenodo.3458734

Volume 4 - January 2015 (01)

Abstract

Banking commerce in Pakistan is presently opposite a hyper turbulent position where banks have to function in progressively comparable and convoluted localized and international markets. The proficiency to contend in the very fast paced international natural environment is of paramount significance – survival of the fittest being the title of the game. The affray has even become ever strong and demanding with the application of numerous foreign world-class banks and other economic institutions. The study is conducted to reveal the strength and weakness of current performance system in banking industry of Pakistan. For such purpose qualitative research approach is adopted which is supported by open ended interviews of forty employees of four leading banks of Pakistan. The study is supported by performance management documents of MCB, ABL, UBL and HBL Pakistan. It has been identified that MCB is practicing right PMS in Pakistan banking industry which is significantly linked with employee performance and reward system. In rest of three banks there is no well define architecture of PMS, due to which policies for compensation and performance are changing every year. Even there is no proper feedback to employee of their evaluation. Because the current Performance management system in Pakistan is not fulfilling the demands of true Human Resource Management practices so, there is strong room for international banks to take off the local commerce market. To gain the competitive edge, it is indispensable to make corrective changes in architecture of current performance management system in banking industry of Pakistan

Keywords

Performance management system (PMS), Banking Industry, Architecture of PMS. 

References

Web References

  1. http://virtual.yosemite.cc.ca.us/smithaj/resea rch_model%20thesis.htm
  2. http://www.hrpowerhouse.com/personnel_p erformance_appraisal/overview.asp
  3. http://www.performanceappraisal.com/freetrial/freetrial.htm
  4. www.abl.pk.com www.hbl.pk.com
  5. www.mcb.pk.com
  6. www.ubl.pk.com

Books References

  1. Approaches to Performance Management (By Michael Pearn, 2001, Efficient Offset Printers, Delhi)
  2. Dick Grote, “The complete Guide to Performance Appraisal”
  3. Human Resource Management – Gaining a Competitive Advantage (Third Edition, Raymond A. Noe, Mc Graw Hill,2000)
  4. Paul R. Niven, “Balance Scorecard”, John Wiley & Sons, Inc. 2002.
  5. Performance Management – the new realities (By Michael Armstrong & Angela Baron, Jaico Publishing House, 2002)
  6. Swan. William. S “How to do a superior performance appraisal”, John Wiley & Sons, Inc 1991.

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