📝 One-liners · 78 cards
Performance Management
Define performance appraisal in banking context.
Formal review of employee's work output, behaviour, contribution over defined period for placement, promotion, rewards decisions.
Why is PMS critical for banking industry?
Links individual effort to strategy; ensures fair rewards; identifies development needs; builds talent pipeline for leadership roles.
Distinguish formal from informal appraisal systems.
Formal: structured, periodic, documented, mandatory in banks; Informal: subjective, undocumented, only in very small organisations.
State three primary objectives of performance appraisal per McGregor.
Maintain skills inventory; determine performance-linked increments; foster individual development through skill upgradation.
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