Article
STUDY AND EVALUATION OF PERFORMANCE APPRAISAL SYSTEM GEOJIT FINANCIAL SERVICES.HYDERABAD
The present article is an empirical study on the examination of performance assessment system in Indian Banking Sector. Banking has long been one of the most sought after career options in India. A strong and functioning banking system is an essential pre-requisite for economic growth of a nation. Thus, banking system of India should not only be pain free but it should be ready to address new challenges brought by technology and other external or internal variables. People are the most important assets whether it is public sector or private sector. They just need to be handled. This can only be achieved by periodic assessment of their performance. Performance Management is a multi step process of alignment of employee’s work behavior with strategy and objectives of business. Data for the research were acquired and evaluated using primary and secondary sources. A questionnaire was sent to staff of selected commercial and public sector banks. From the outcome it can be stated that, there is still a need to build a performance assessment system which can be universally applicable. Employee performance is assessed but seldom communicated. Organizations need to make appropriate use of performance assessment as a tool for identifying training requirements and as a foundation for promotion. Another study reveals that in majority of the banks performance is not connected with the awards which decreases the morale of workers and thus efficiency and profitability of such banks are damaged
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