ASSESMENT OF PERFORMANCE MANAGEMENT PRACTICE, AT NYALA INSURANCE SHARECOMPANY

Abstract

Performance management system is part of human resource management which is a continuous process for improving organizational performance by developing the performance of individuals and teams and aligning performance with the strategic goals of the organization. Performance management helps to empowering, motivating and rewarding employees to do their best. The objective of the study is to assess the performance management practice of NISCO. To undertake the study descriptive method is used to carry out the research and both secondary and primary data were used to analyze the data. To achieve the goals of this study, 133 employees of the organization were participated. Responses were received from 130 employees that gave a response rate of 98%. Data was collected using a set of questioners which consists five sections including demographic information of respondents, 5 yes or no questions, 22 Likert‘s scale perception items, and open- ended questions. Data analysis was done using descriptive statistics with the help of SPSS, tables, percentages, and mean rating were used to present the perception of the respondents. The organization’s major problems identified from the data collected are absence of clear alignment of individual goals with organizational goals, lack of setting standard and awareness of employees of performance review, absence of good counseling practice, review format has not contain relative weight and training needs are not well identified. Based on the results it was recommended that the organization should develop a wider set of performance management system and the management works for its proper implementation in the desired way for the desired purposes.