Performance Appraisal of Select Public and Private Sector Banks in India

Abstract

Performance appraisal (PA) is a systematic and periodic process that assesses an individual employee’s job performance and productivity in relation to certain pre-established criteria and organizational objectives. One of the underlying purposes of performance appraisal schemes is to elicit corporate compliance. To find which strategic factors influence on appraisal system in banking industry, data has been collected with help of structured questionnaire from 200 employees each from the public sector banks of Andhra Bank(AB), Canara Bank(CB) and private sector banks of City Union Bank(CUB) and Karnataka Bank(KB). More than 86 per cent of the respondents opined that the performance appraisal policy of the banks is good and majority of the respondents (63 %) opined that circular is the main mode of sharing of performance appraisal in both public and private sector banks and 72 per cent of the respondents of both public and private banks opined that the performance appraisal formats are reviewed every year. The performance of appraisal of select public sector and private sector banks is good.