Improving organizational performance through performance management in selected deposit money banks in South-South, Nigeria

Abstract

The study focuses on the effect of performance management system on organizational performance in the selected Nigeria Deposit Money Banks in South-South, Nigeria. The population of the study consists of customers and employee of Zenith Bank, Fidelity Bank, United Bank of Africa, Access Bank and First Bank in Delta State. The basis for selection of these five (5) banks from the twenty-four (24) DBMs in Nigeria is because they are key players in the industry. Therefore, the total population is 1740 which consists of the customers and the employees. The stratified random technique was utilized with the probability sampling method. The study concluded that performance appraisal affects organizational performance. Effective employee participation in performance appraisal is to understand the strategy the organization is trying to implement, timely communication of performance targets, timely feedback on progress towards set goals and employee full participation in setting goals. The study recommends that management should improve in justice perception; this is due to improve the commitment of non-executive employees towards the organization. Improving the justice perception can be made by improving the delivery of the information in terms of clarity, understanding and timely relevant.