PERFORMANCE MANAGEMENT STRATEGIES AND ORGANIZATIONAL GROWTH OF ACCESS BANK PLC, RIVERS STATE

Abstract

This work examined performance management strategies and organizational growth of Access Bank plc, Rivers State. The objective of the study was to examine the relationship between dimensions of performance management strategies (performance appraisal, promotion and training and development) and measures of organizational growth such as financial growth, expansion and staff strength. Thus, this study was anchored on contingency theory as its theoretical foundation. The study adopted the explanatory cross sectional survey research design, the population of this study was five hundred (500) employees, with sample size of two hundred and seventeen (217) respondents from twenty three (23) Access Bank Branches in Rivers State, the sample size was obtained using the Krejcie and Morgan Sample Size Determination of 1970. After validation by the supervisor, two hundred and seventeen (217) copies of structured questionnaire were administered while one hundred and ninety (190) copies were retrieved. The reliability of the instrument was ascertained using test-retest. Mean and standard deviation were used for research questions analysis while Pearson Product Moment Correlation Coefficient was used to test hypotheses. The results showed that dimensions performance management strategies such as performance appraisal, promotion and training and development significantly and positively affects measures of organizational growth such as financial growth, expansion and staff strength. The study concluded that continuous improvements in performance management strategies such as performance appraisal, promotion and training and development brings about corresponding improvements in organizational growth of Access Banks in Rivers State. Financial institutions such as Access Banks Plc, Rivers State who neglect performance management strategies, will be at the receiving end in respect to financial growth, expansion and staff strength, thus experience counter production. Consequently, the study recommended among other things that having a systematic process of evaluating the performance of the employees, therefore, organization especially Access Bank Plc Rivers State should development objective template for assessment of performance of the employees in order to induce the employees and instill the motivating force on them to enhance organization growth