Appraisal Of Risk Management In The Insurance Sector Of Pakistan: A Case Of Selected Insurance Companies

Abstract

This paper focuses on the impact of performance appraisals Practices on the motivation of employees in the banking sector of Pakistan in particular. In our current study we have taken seven independent variables that are Communication, Awareness of the appraiser, Work Environment , Objectivity appraisal forms , Job Content, Frequent promotions , Perception of unfairness and analyzed its impact on the motivation of the employees of the banking sector. The aim was to know what are the problems employees of banking sector face and what could be the techniques, policies, procedures and programs to solve these problems and motivate the employees. For this reason a sample of 3 Banks has taken, i.e. Bank Alfalah Limited, Habib Bank Limited and Allied Bank Limited. To collect data a questioner was designed and administered in these banks. Along with this questioner various other quantitative techniques has also been used such as Interviews, Secondary data and Extensive on-line search. Most of the data was collected through questioners. On the average a sample size of 25 employees were taken from each bank. The result of the study show that satisfaction level of the employees in Bank Alfalah Limited was outstanding as compared to the employees in the HBL and ABL because in Bank Alfalah the appraisal system was base on new HR techniques and standards and is helping bank Alfalah in motivating their employees by giving them the feeling of justice, equal opportunity and performance based appraisals.