Performance Management of Nbl
of NBL
CHAPTER I: INTRODUCTION
1. 1 Background
Achieving organizational goal through the performance management is usually the primary concern for many organizations, and many managers would gladly profess to be striving to manage the performance of their employees. In the survey of Nepal Bank Limited, it has been realized that satisfied employees just aren’t good enough.
There is obviously a strong link between managed performance, motivation and increased productivity, and that’s why it is necessary to measure and track changes in performance of the employees in regular basis. With better understanding of performance management related to the services, one can determine the actions required to meet overall organizational goal. Measuring performance of the employees also help to establish a high performance culture in which individuals and teams take responsibility for the continuous improvement of business processes and for their own skills and contributions within a framework provided by effective leadership.
Its key purpose is to focus people on doing the right things by achieving goal clarity. Specifically, performance management is about aligning individual objectives to organizational objectives and ensuring that individuals uphold corporate core values. It provides for expectations to be defined and agreed in terms of role responsibilities and accountabilities (expected to do), skills (expected to have) and behaviors (expected to be).
The aim is to develop the capacity of people to meet and exceed expectations and to achieve their full potential to the benefit of themselves and the organization. Importantly, performance management is concerned with ensuring that the support and guidance people need to develop and improve are readily available. Therefore, it is necessary to identify parameters that play a significant role in inducing the employees to perform effectively.
1.2 Nepal Bank Limited
Nepal Bank Limited, the first bank of
CHAPTER I: INTRODUCTION
1. 1 Background
Achieving organizational goal through the performance management is usually the primary concern for many organizations, and many managers would gladly profess to be striving to manage the performance of their employees. In the survey of Nepal Bank Limited, it has been realized that satisfied employees just aren’t good enough.
There is obviously a strong link between managed performance, motivation and increased productivity, and that’s why it is necessary to measure and track changes in performance of the employees in regular basis. With better understanding of performance management related to the services, one can determine the actions required to meet overall organizational goal. Measuring performance of the employees also help to establish a high performance culture in which individuals and teams take responsibility for the continuous improvement of business processes and for their own skills and contributions within a framework provided by effective leadership.
Its key purpose is to focus people on doing the right things by achieving goal clarity. Specifically, performance management is about aligning individual objectives to organizational objectives and ensuring that individuals uphold corporate core values. It provides for expectations to be defined and agreed in terms of role responsibilities and accountabilities (expected to do), skills (expected to have) and behaviors (expected to be).
The aim is to develop the capacity of people to meet and exceed expectations and to achieve their full potential to the benefit of themselves and the organization. Importantly, performance management is concerned with ensuring that the support and guidance people need to develop and improve are readily available. Therefore, it is necessary to identify parameters that play a significant role in inducing the employees to perform effectively.
1.2 Nepal Bank Limited
Nepal Bank Limited, the first bank of