RELATIONSHIP BETWEEN PERFORMANCE MANAGEMENT PRACTICES AND ORGANISATIONAL EFFECTIVENESS AT STANBIC BANK UGANDA: A CASE STUDY OF CENTRAL REGION
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The purpose of this study was to find out the relationship between performance management practices and organizational effectiveness at Stanbic Bank Uganda (SBU). The objectives of the study were to examine the relationship between performance planning and organizational effectiveness, to investigate the relationship between performance monitoring and organizational effectiveness, to examine the relationship between performance evaluation and organizational effectiveness at Stanbic Bank Uganda. Across sectional case study design was adopted and both quantitative and qualitative approaches were used in the study; data were collected using structured questionnaires and interview guides. The target population was 95 employees of Stanbic central region. The study revealed that there is a statistically significant positive relationship between performance planning and organizational effectiveness, a strong positive relationship between performance monitoring and organizational effectiveness, positive relationship between performance evaluation and organizational effectiveness. The study advised that Stanbic should improve on performance management practices by ensuring specific goals and objectives are set and measures of performance strengthened to improve organizational effectiveness. A strategic plan should be put in place and keenly monitored to improve employee work output and to improve employee performance evaluation mechanism by removing barriers to top performance since optimum organizational effectiveness has been found to be dependent upon the performance of individual that makeup the organization. The recommendations proposed here are not just aimed at increasing individual employee productivity, but most importantly, the overall organizational effectiveness of the entire SBU. Another recommendation is the training to the users of the Employee performance management (EPM) to empower them with more skills /knowledge and attitude to evaluate performance effectively.