Abstract:
Many emerging organizations in Pakistan have adopted the best practices of Performance Management System. MCB (Formerly Muslim Commercial Bank) is one the big 4 banks in Pakistan. MCB has also adopted the practices of Performance Management System. Organizations take it as a guarantee that after adopting this system employee will be highly motivated and results will be better than earlier. In practice Researcher has seen that the result of this system is not as were expected. But still organizations in Pakistan are adopting this performance management system. This study is designed to assess the real impact of the performance management system on the success of organization-particularly in case of MCB.
The respondent of this study are the employees of MCB. Employees of operational level and above have been selected. Head of HR and manager HR are also selected for interview purpose. Approx.100 employees have been reached to fill the questionnaire and interview purposes.
Based on the study of the related literature reviews and the analysis carried out on the primary data it is clear that MCB is putting their efforts in the effective implementation of PMS as it has a key role in the success of MCB, so Researcher is rejecting our null hypothesis and accepting alternative hypothesis that H1: PMS has role in the success of MCB Researcher concludes from the data analysis of the responses collected from 500 respondents that PMS has effective role in the success of MCB. For the implementation of PMS MCB has given appropriate weights to each aspect of the PMS which are general, performance planning, periodic review, annual review, compensation to reward recognition and HR Development aspect for improvement. Each of sub variables aspects tested has a key role in the effective implementation of PMS at MCB.
