Assessing the success related to performance Essay Example

the bank's success by providing employees with goals and objectives through regular training and development programs.

This survey focuses on analyzing planning procedures, monitoring techniques, and rating procedures related to performance management systems in international organizations. It also involves comparing these practices with those currently utilized in the banking sector of Pakistan specifically within MCB.

The main goal of MCB's performance management system is to provide a formal and regular training and development program that improves employee performance through ongoing discussions with supervisors and managers.The text evaluates past and future employee performance based on assigned tasks and regular evaluations conducted by MCB. It also assists in decision-making for promotions, salary increases, bonuses, staff transfers, and recognition rewards. The research objectives of this study are to analyze the current performance management system of Muslim Commercial Bank in Pakistan and identify its strengths and weaknesses. The primary purpose is to assess employees' job performance, identify developmental needs for organizational goals, compare the proposed PMS framework with the existing one in MCB, and make recommendations for improvements. The research will investigate various questions related to Performance Management Systems (PMS) at MCB, such as how MCB currently utilizes PMS to achieve its goals, determining appropriate planning methods for performance management based on leading organizations' practices, identifying the hierarchy of performance management used by MCB, and exploring the frequency of performance management reviews within the organization.Furthermore, the research will address additional sub-questions pertaining to performance management at MCB. These questions include identifying responsible parties for conducting performance management activities, specifying measurable activities, establishing measurement criteria and targets, and understanding how quality improvement and decision-making processes contribute to organizational progress. The literature review

section explores the history and foundations of performance management. It defines performance management as a strategic approach that integrates all aspects of an organization with its human resource policies, leadership style, and communication systems. The review acknowledges that each organization has unique strategies, processes, and goals in implementing performance management. Taylor's Time and Motion studies from the early 20th century are recognized as the origin of Performance Management Systems (PMS), which leading organizations have adopted for approximately six decades. Since the 1990s, the Chartered Institute of Personnel and Development (CIPD) has been integrating performance management with other related studies like career development management, talent management, and training management.During the late 1990s and early 21st century, there was a significant focus on employees and their performance, making employee development an integral part of performance management systems. The CIPD identified a lack of understanding in performance management and its connection to development, compensation, and talent management. They also highlighted the various elements of Performance Management Systems (PMS) and how they can work together to create a more suitable system.

What is Performance?

According to Armstrong and Baron (2002), "You cannot measure or manage performance if you cannot define it." There are different definitions and perspectives on what entails performance. The strong relationship between organizational goals, strategies, customer satisfaction, and economic development can lead to the desired outcome.

Performance management involves assigning goals to employees, providing proper training, and monitoring their regular performances to achieve company objectives. It encompasses three main parts: maintaining communication between employees and managers for good performance; setting rewards and opportunities based on employee performance;The Performance Management System (PMS) is essential for measuring actual performance

against expected standards. It incorporates various factors, such as conducting annual performance assessments and ongoing discussions, informing employees about underperformances, promoting employee progress in the organization, providing training for managing performance and administering the system, and resolving pay differences based on employee performance. The purpose of the PMS is to effectively manage resources and ensure that employee performance aligns with the organization's objectives. Clear corporate strategies can also provide competitive advantages. The main goals of the PMS are to ensure that employees' performance contributes to organizational goals, provide a clear understanding of objectives and expected work levels for employees, offer feedback on performance effectiveness and efficiency, distribute awards and salary increases based on performance to motivate employees, and identify development and career opportunities. Organizations determine their specific criteria for measuring performance based on job analysis and design work.The assessment of performance management systems is based on several criteria, including validity, reliability, strategic congruity, and content cogency. It is important to only measure job-related areas in order to maintain validity. A contaminated measure assesses aspects unrelated to the job, while a deficient measure fails to capture all performance facets within the organization. Dependability refers to the stability and consistency of a performance measure. Interrater dependability occurs when two employees provide the same ratings for an individual's job performance. Test-retest dependability assesses reliability over time.

Strategic congruence ensures that employee performance aligns with organizational goals, strategies, and culture. In customer service organizations, Performance Management Systems (PMS) guide employees in effectively and efficiently serving customers for organizational success. This requires a flexible system that can adapt to changes in strategic structure.

Communication at different levels within the organization is crucial

as performance is measured across various degrees and aspects. Figure 1 provides a visual representation of the hierarchy of performance management, illustrating how different types of performance measures are linked and utilized at different levels within the organization.
Similarly, Figure 2 displays the Plan-Do-Review-Revise cycle of performance management, which occurs at various time intervals and levels within the organization. Strategic evaluations and changes can happen annually or triennially, while more frequent evaluations occur monthly or quarterly. Some organizations even conduct daily reviews for task supervision by managers and supervisors to keep staff informed about their performance.

For my research on MCB, I will gather information about its purpose, hierarchy, and timeline in performance management. The research methodology used to collect, analyze, and utilize data is known as research philosophy. Research philosophy encompasses two terms: epistemology and doxology. Epistemology pertains to what is considered true knowledge while doxology refers to what is believed to be true including different doctrines of research approach.

The ultimate goal of scientific discipline is transforming beliefs into knowledge from doxa to episteme. In the Western tradition of science, there are two main research doctrines: rationalist (scientific) and interpretivist (antipositivist). In my study, I will employ the interpretivist doctrine as it requires personal involvement and communication for a comprehensive understanding of the world.The positive aspect of interpretivist doctrine involves studying various phenomena in their natural environment along with recognition. Philosophers recognize the importance of studying reality in scientific inquiry. My research also incorporates rationalism, which involves objective engagement in research knowledge. The interpretivist doctrine is necessary for my study, as it connects my research objectives and questions to understanding the Performance Measurement System (PMS)

in domestic organizations.

This research explores a new aspect of PMS that has not been implemented by organizations before, allowing for an examination of its measurement and implementation process with personal involvement. It can be challenging to acknowledge the lack of objectivity in interpretivist research methods; however, I will adopt a rationalist approach to enhance and develop my primary research component.

The impact of PMS can be evaluated using either a rationalist or phenomenological paradigm, but this approach may provide limited information compared to comprehensive research that considers both internal and external factors of the organization. In terms of research strategy, PMS significantly influences organizational performance and contributes to its improvement.The text discusses the importance of a continuous and integrated approach to the performance management system (PMS) in large organizations. The purpose of this research is to examine how MCB Bank uses its PMS in real-life situations. By analyzing different variables, observers can gain detailed insights beyond what is typically possible through experimental or survey research. The researcher will adopt an observational role and use interviews and dialogues with relevant individuals at different management levels to gather firsthand knowledge about the implementation of the PMS. Direct and indirect observations will also be conducted. The gathered information and data will be analyzed, compared with international experiences, and presented as a research thesis that addresses issues related to MCB Pakistan's PMS. Recommendations and guidelines will also be provided.

DATA Collection:

To support this research, both quantitative and qualitative approaches will be utilized.The collection of secondary data will involve referencing textbooks, journals, case studies, research publications, and online sources. Additionally, documentation such as written, printed, or electronic information will be

utilized along with old records and charts related to the PMS of the bank. The primary focus for data collection will primarily be qualitative methods including conducting structured and unstructured interviews and discussions with MCB staff in Pakistan. Both the primary technique for collecting data and the secondary technique for aggregating information have a common goal of gathering all available information about the PMS being implemented in MCB. Interviews conducted with directors and employees will help in identifying their current behavior towards the organization's goals. It is important to establish rapport with respondents and understand their perspectives. Close observation and staff participation also provide valuable insights. Regarding ethical considerations, research ethics are governed by specific codes, rules, and policies established by various universities and agencies. East Carolina University has its own ethical policies that must be followed which include honesty, faithfulness, responsibility, mutual respect as well as values such as animal welfare social responsibility human rights health safety standards adherence to laws regulations.I will maintain ethical standards in my research by following regulations, providing accurate knowledge and truthful results through reliable methods. I will prevent errors and avoid falsifying or distorting information. Confidentiality and respect for intellectual property are also important aspects of ethical codes. I will protect confidential communications, including documents submitted for books or diaries, employee records, and organization-related work. I will not infringe on copyrights, charters, patents, or any other intellectual property belonging to the organization. Unpublished data, methods, or results will not be misused without permission. Proper credit will be given to research assistance and I will refrain from copying or reproducing confidential materials.

Data Access:

In order to access data, I

will use various resources that align with my research objectives, questions, and design process. This includes visiting Pakistan to collect primary data and arranging meetings with managers and employees from both banks. Additionally, I will gather secondary data from journals, books, the official websites of both banks, university websites (such as Athens), and various articles. Furthermore, I will study international standards for Performance Management Systems (PMS) to more effectively compare them with my research.

Resource Deductions:

The research encompasses primary and secondary information. It utilizes the Content Analysis technique, also known as an old literature review. A personal visit to Pakistan is necessary for the thesis research, making cost a significant consideration.

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References/a>

1.http://www.performanceanalytics.co.uk/Solutions/performance_management.htm
2.Here are some links to resources related to performance management:
1. http://www.ddiworld.com/pdf/ddi_federalreservebankofkansascity_rr.pdf
2. http://www.sas.com/industry/banking/spm/
3. http://www.idea.gov.uk/idk/core/page.do?pageId=4405770
4. http://www.businessballs.com/performance_management.htm
5. http://www.cipd.co.uk/subjects/perfmangmt/general/perfman.htm