Sunteți pe pagina 1din 14

A comparative study on Traditional performance management system and

newly introduced performance management system in Bangladesh Bank

Md. Anisur Rahaman

Assistant Professor
Department of anagement Studies
Patuakhali Science and Technology University
Dumki-8602, Patuakhali, Bangladesh


Bangladesh Bank, the central bank of Bangladesh, has to manage the monetary and credit
system of Bangladesh with a view to stabilizing domestic monetary value and
maintaining a competitive external per value of the Bangladeshi Taka. It also aims at
fostering growth and development of the productive resources of the country. But the
desired objectives are not met/achieved through its present resources. Besides it remains
far behind from global dynamic standard. To match and march with the global dynamic
monetary and financial system and to achieve its objectives, as specified, Bangladesh
Bank moves through a strengthening process under a foreign aided project. By this time,
with a view of human resource development it has introduced a modern and target based
performance management systems for evaluating its employees performance since 1st
April, 2006 replacing its traditional performance management system known as Annual
Confidential Report (ACR).
In the above context a comparative study has been made to find out the effectiveness of
traditional performance management system and newly introduced performance
management system in Bangladesh Bank.

Key words: Bangladesh Bank (BB), Annual confidential Report (ACR), Performance
Management System (PMS), Management by Objective (MBO). Central Bank
Strengthening Project (CBSP)


With a view to develop human resources, a modern performance based promotion has
been formulated for the officers/employees of the Bangladesh Bank. For evaluation of
their performance a modern and target based Performance Management System (PMS)
has been effective since 1 April 2006. Bangladesh Bank since establishment follows
Establishment Manual-1965 of State Bank of Pakistan on Staff and establishment
matters. According to this manual, Bangladesh Bank had been followed a confidential
report system to judge the various qualities of its employees and their suitability or
otherwise for retention, confirmation or promotion in service till 31st March 2006.
This system for evaluating employees’ performance is old and most traditional one. It is a
subjective measure. It may have a problem- providing the opportunity for bias. It may
include rater biases-The halo effect, the error of central tendency, Personal prejudice,
Leniency and strictness bias, and the recency effect.
Besides it covers feedback but does not perform the purpose of employees performance
legal documentation, even does not result any employees development. Bangladesh Bank
realized the matter and introduced a new employee’s performance evaluation system
named Performance Management System (PMS).The new system is supported by
management by objectives (MBO). Since the system is just introduced, so we can not
study the effect of new system though the new system has more advantages over the old
system. The employees of the Bangladesh Bank are in a hesitation whether the new
system will bring a good luck for them or not. This situation encourages us to take a
study between Bangladesh Bank’s traditional. Employee’s performance management
system and newly introduced Performance.

Objectives of the study

The objectives of the study are:
• To know the traditional employees performance evaluation system of
Bangladesh Bank
• To analysis the newly introduced employees performance management system
of Bangladesh Bank.
• To analyze the advantages and disadvantages of traditional employees
performance management system and newly introduced employees
performance management system of Bangladesh Bank.
• To detect the problem area of employee’s performance management system
and make recommendations to resolve the problem.
Methodology of the study

The study utilized both primary and secondary sources of information. Primary data were
collected during January and February 2007 through personal interview with the
responsible personnel of the Bangladesh Bank. BB has 5515 employees (as on 31st March
2006). In the study 100 respondents ( 01 General Manager, 03 deputy General Manager,
06 Joint Director, 10 Deputy Director,20 Assistant Director,40 Officers and 20 Staffs)
were the primary sources of information and sample were selected in simple random
basis for the interview. Hence the interaction with the interviewees is more informal, and
involves two way communications. The secondary sources of data gathered from

different manuals and books, files & records, annual report, different publications and
statements of Bangladesh Bank and data also collect from different HR books, Journal

Literature Review

The first known appraisal system was developed in the U.S. by its federal government.
The U.S. Congress enacted a legislation in 1842 requiring that heads of executive
departments make an annual review to determine whether clerks were “usefully
employed” (Mayer, 1974). However it was not until after World War II that formal,
regular and written performance appraisal system were widely adopted by government
and business organization. According to Flippo (1976), the term ‘performance appraisal’
is generally means a systematic, periodic and so far as humanly possible, an impartial
rating of an employee’s excellence in matters pertaining to his present job and to his
potentialities for a better job. Today, employment usually begins with an appraisal and it
continues throughout the employee’s working life. Though much of the discussion is
informal, every working day goes by with some discussion of the performance of
personnel. However, Yoder and Standohar (1982) said performance appraisal refers to
the formal procedures used in organizations to evaluate the contribution and potentials of
organization members. Cummings (1972) reported the overall objective of performance
appraisal is to improve the efficiency of an enterprise by attempting to mobilize the best
possible efforts from individual employed in it. Such appraisals achieve four basic
objectives including the salary reviews, the development and training of individuals,
planning job rotation and assist in promotions. Siddique (1984) observed that
performance appraisal within executive ranks has become quite a popular practice in
many organizations during the last three decades or so and many more have been
introducing the system as an important step toward management development program
and compensation administration. Cambel et al. (1973) distinguish the concept of
behavior, performance, and effectiveness because some performance appraisal schemes
focus on behavior, and some focus on performance. Behavior refers to people do in their
work. Performance refers to the outcomes of behavior or behavior that have been
evaluated. Effectiveness, like performance, refers to organizational outcomes for which
the individual is responsible. The difference between performance and effectiveness is
that the later is a function of additional factors not under the control of the individual.
The above statements make it clear that performance appraisal is important for both
employees and organization. But many organizations do not define clearly the factors
used for performance appraisal. In most of the cases, the results of performance appraisal
are kept confidentially. For that reason, the employees cannot be diligent to improve

Discussions of the study

Before looking at the newly introduced performance management system of Bangladesh

Bank a brief description of the traditional performance management system of
Bangladesh bank seems in order.

Traditional performance management system of Bangladesh Bank

The traditional performance management system named ACR system including it’s forms
has been found in the establishment manual, 1965 of State Bank of Pakistan.
Bangladesh Bank followed this establishment manual, 1965 from the beginning of its
operation. Later on in 1982 keeping the establishment manual, 1965 same the form was
edited and made in Bangla. The later edition was in action till 31st March, 2006.The
revised form included thirteen behavioural competencies. These are- Personality,
Integrity (Intellectual & Moral), Timeliness, Initiative/ Perspective/ Drive, Judgment
&sense of Proportion, Diligence & Devotion to Duty, Intelligence & Mental Alertness,
Sense of responsibility(General &Finance), Power of Expression(Speaking
&Writing),.Cooperation & Behaviour, Quality of Leadership, Promptness& capacity to
take various assignments, Ability & Aptitude to use Bangla. Besides the form includes:-

• The living standard (living within the known income or not) of the

• Information about participation of unapproved activities of the

This subjective ACR system is easy to use and easy to manipulate. The form is supplied
by HRD in due time to the Supervisor to evaluate his subordinates. The Supervisor fill up
this form and thinks to award specific rating to his subordinates. He then puts his initials
in the specific columns of the form. If he decides to award excellent to any of his
subordinates, he puts majority initials in the column of excellent. The subordinates have
no role to play in this process. After filling up the form, the supervisor sends the form to
his immediate boss and thus the form ultimately goes to the Head of the Department. This
performance appraisal process is mostly affected by the similarity error. The process is
mainly based on supervisor’s choice .If the Boss likes his subordinate for any reason the
performance evaluation will result better or if the Boss dislikes his subordinates for any
reason the performance evaluation result will worse.

Newly introduced performance management system of Bangladesh Bank

Bangladesh Bank aims at becoming a modern and dynamic Central Bank. Effective
performance management is one of the means to this end. PMS is a useful tool for
fulfilling Bangladesh Bank’s vision and goal. It is also an instrument to reinforce
Bangladesh Bank’s performance especially in turning Bangladesh Bank’s strategy into
plans into actions into results. Bangladesh Bank introduced an improved objective system
PMS replacing the subjective ACR system of employees performance evaluation. Newly
Performance Management System (PMS) is a process-based approach, which will

develop the Bangladesh Bank’s employees to perform their duties effectively and
efficiently. Newly PMS is a process of aligning the goals of the individual to that of the
goals of Bangladesh Bank. It provides congenial environment for the supervisor and
employee to agree on the goals. It assists the employee in creating a competent level of
performance through continuous monitoring, reviewing, providing feedback, coaching
and counseling. This process includes twenty competencies. Competency means a
combination of observable and applied skills, knowledge and behaviors that is important
for the success of the organization, personal performance and enhanced contribution.
Generally different sets of competencies are required to perform tasks within a particular
function with competence. Most of the times, they differentiate the behavioral patterns
from one function/position to another.
Competencies are measurable and will have series of behavioral indicators for
performance. It will be measured based on the individual ability to demonstrate the
required level (gap) as specified in the competency matrix (Bangladesh Bank has adopted
position based competency model) and competency dictionary.

Competency Matrix:

No. Competencies Levels of competencies

1 Organizational 1 2 2 3 3 4 4
2 Professional Integrity 2 2 3 3 4 4 4
3 Dynamism 1 1 2 3 3 3 4
4 Innovation & cont. 1 2 2 3 3 3 4
5 Achievement 1 2 2 3 3 4 4
6 Communication & 1 2 3 3 - - -
7 Concern for detail 1 2 2 3 - - -
8 Initiative. 1 2 3 - - - -
9 Customer service 2 3 3 - - - -
10 Problem solving 1 2 2 - - - -
11 Team work 1 2 3 - - - -
12 Planning & Organizing - - - 3 4 - -
13 Conceptual thinking - - - 2 3 - -
14 Managing execution - - - 3 3 4 -
15 Judgment & decision - - - 2 3 3 4
16 Team leadership - - - 3 4 4 4
17 Relationship building - - - - 2 3 3
18 Strategic orientation - - - - 2 3 4
19 Impact & influence - - - - - 3 4
20 Organization - - - - - 2 3

Total no of 11 11 11 12 12 12 11

Bangladesh Bank has a competency dictionary which explains about 20 competencies.

Among the 20 competencies “Team work competency” is detailed below as sample:

Team work:
Team work reflects a genuine desire to work willingly as a team within the department or
other departments as opposed to working separately or comparatively. Sincerity in one’s
desire to work with people to achieve results towards common goals of the team,
division, and organization.

Level Behavioral Indicator

1 Co-operatives & Shows respect:
• Participates willingly and support team decision and try to be a good
team player by doing his assigned work.
• Keeps other team member informed and up-to-date about the group
process and his individual actions.
• Openly shares all relevant or useful information, knowledge and
• Speaks positively of and listens & responds constructively to team
members ideas and contributions.
• Seeks inputs/ suggestions from tea

2 Solicits input:
• Participates willingly in making decisions & accomplishing tasks as a
group .
• Solicits ideas and input from other section/divisions/teams on issues
and problems & works for solutions that members can support.
• Flexible enough to accommodate others views for the interest of
• Promotes inter/ intra team cooperation.

3 Supports success of others.

• Looks for opportunities to contribute towards the effective and timely
completion of on going work or projects led by others.
• Publicly recognizes and reinforces the contribution of other team
• Supports and acts in accordance with final group decisions even when
such decisions may not entirely reflect one’s own position.
• Encourage and empowers others.

4 Builds team sprit:

• Makes people feel good about being part of the group & brings out the
best of people.
• Acts to promote a friendly climate, good morale and cooperation
(high performance work environment) to maximized members
• Promotes / protects group reputation and outsiders.
• Does not hide or avoid issues.
• Strives for mutually agreeable “win-Win” solutions on sensitive and
high-stake issues with relevant parties using negotiation skills.

This newly introduced performance appraisal process also helps to identify the
employees’ opportunities for career progression and development. The basic features of
this system are given below-

• The newly introduced performance management system is a three-step

process. It starts with performance planning and ends with performance
reviewing. In between these two steps is continuous monitoring through
feedback, coaching and reinforcement by the supervisors.
• Appraisal is a supervisor’s responsibility that will conduct the key process
of the newly introduced performance management system for the
employee that report directly to them.
• Cascading the annual organizational goals to the individual’s goal.
• Goals and competencies shall be clearly defined in consultation with the
employee being appraised and the goals must support the achievement of
the Bank’s goals. The agreed goals will be specific, measurable,
attainable, relevant to the job and time bound (SMART).
• It provides necessary support to the employees to develop their
competencies and improve their performance.
• Feedback on individual’s strength and development needs will be
managed in a fairly manner.
• Coaching, training and performance monitoring will be an ongoing
process throughout the appraisal period.
• Appraisal will have input from appraise, line managers and customers.
• There will no discrimination in favor of selected groups/individuals when
assessing/rating their performance.
• PMS is a tri-partite responsibility involving-Organization, Supervisors and

Findings of the study

 The Annual Confidential Report (ACR) of Bangladesh Bank which was in force
till 31st March 2006, is a system based approach. It is a subjective measure based

on absolute performance standards for the job. The system is based on Graphic
Rating Scales to facilitate employees evaluation on different performance
dimensions, each of which is continuum made up of clearly defined scale points.
In ACR system the rater describes an employee as falling at some point on a
performance continuum- such as excellent, very good, good, satisfactory & below
On the other hand the Performance Management System (PMS) of Bangladesh
Bank which is introduced on 1st April 2006, is a process based approach. It is a
combination of objective and subjective measure based on individual performance
of the job. The system is based on Management by Objective to facilitate aligning
the goals of individual to that of the goals of BB. The measurement of goals, the
important part of the PMS is objective measure. But the other part of PMS, the
measurement of competencies is subjective measure.

The goal setting part of newly introduced PMS is very new idea for BB; which
makes difference between ACR& PMS. This goal setting part increases BB’s
employee performance.

 ACR is the superficial evaluation of competencies & personality. It includes

thirteen elements: Personality, Integrity (Intellectual & Moral),Initiative/
Perspective/ Drive, Judgment & Sense of Proportion, Diligence &Devotion to
Duty, Intelligence & Mental Alertness, Sense of Responsibility, Performance
(Quality & Quantity), Power of Expression, Co-operation & Behavior, Quality of
Leadership, Promptness & Capacity to take various assignments, Ability &
Aptitude to use Bengali.
But PMS is the specific evaluation of goals & competencies. It considers about 20
competencies. Out of these competencies 11 to 12 competencies are to be
considered together for each category of employees. Besides these each
competency is defined in 4 different levels. It is to be considered to prepare a
performance planning that the required level of a competency is same for a
specific category’s employees; and may be different for different categories of
employees. The included competencies in PMS are Organizational Commitment,
Professional Integrity, Dynamism, Innovation & Continuous Improvement,
Achievement Orientation, Communication &Coordination, Concern for Details,
Initiative, Customer Service Orientation, Problem Solving, Team Work, Planning
& Organizing, Conceptual Thinking, Managing Execution, Judgment & Decision
Making, Team Leadership, Relationship Building, Strategic Orientation, Impact
& Influence, and Organizational Awareness.

It is observed that competencies to be evaluated in ACR system &PMS are more

or less same. In the ACR system competencies are judged on Rating Scales to
facilitate employees’ evaluation on different performance competencies, each of
the competencies made up of clearly defined scale points. In ACR system the
rater describes an employee as falling at some point on a performance continuum-
such as excellent, very good, good, satisfactory and below satisfactory. In PMS

the evaluation of competencies are subjective. In the process, first of all, the
required minimum level of competencies of an employees are determined to
achieve individual’s goals and after a systematic completion of appraisal period,
the appraisee’s actual level of competencies are judged by the appraiser.

The process is shown in the following table:

Reviewing & Assessing Competencies

Competencies Required Actual GAP Rating Description
level level
Innovation 2 2 0 3 Good
Teamwork 3 4 +1 4 Very Good
Planning& 4 3 -1 2 Satisfactory
Achievement 2 4 +2 5 Excellent
Problem 4 4 0 3 Good (is shown
Solving sometimes)
4 Very Good (is shown
more often0
5 Excellent(is shown all
the time)
Total 17

 ACR is an annual event. The appraiser(supervisor) will observe the appraisee’s

(employee) activities/ performance along the whole year and at the end of the year
the appraiser will make the appraisal. However appraisal is made annually. The
ACR form is used to record the appraisal.

But PMS is a continuous event. Before the beginning of the appraisal period
(Appraisal Year, April-March) the performance planning is completed. This
performance planning involves both appraisee & appraiser. Both the Party settle
the appraisee’s goals to be achieved ; the competencies which level requires to
improve to attain the goals and sign on the Performance Planning Form.

Then the appraisers manage the performance of the employee by:-

• Track performance, provide continuous feedback and coaching.
• The Event Behavior Result (EBR) form records the total picture.
• Half yearly review is to be done on the last week of September. The
review also involves the appraisees and tells him what is to be done in the
last half of the year to achieve the goals, what are the competency

gaps,what resources and assistance are required to achieve the goals.The
Half Yearly Review (HYR) form records all the events.

The Annual Performance appraisal is to be done at the end of the year to measure
appraisee’ s actual performance against the agreed standards, targets and the
required competencies as agreed during the performance planning phase.

 Any Performance Management System has three purposes i.e.

• Feedback
• Development.
• Documentation.
ACR provides feedback only. The subsequent action is that focus on reward.
On the other hand PMS provides feedback, development & documentation. The
subsequent action is that focus on employees development. PMS of BB meets the
purpose of Performance Management System.

 Like all the Government Employees, BB’s employees are in the service of the
State & Government. BB has specific objectives to achieve through the
involvement of its employees. If the employees’ job is translated in the form of
goals/objectives to align the same with BB’s goal the employees may find more
interest in his job.
ACR system loosely associated with BB’s objectives. But PMS allows for
alignment with organizational objectives.

 ACR system does not follow the Appraisal process ; PMS follows the Appraisal
process. ACR system does not involve individual employee (appraisee). It
runs through under the control of Supervisor without the involvement of the
individual employee. But the PMS involves individual employee. It runs with the
involvement of supervisors & employees.

 ACR is a very confidential document of an employee. He is never allowed to see

his own ACR form. He never knows about his rated performance. He, through the
feedback can assumes about his performance rating only. This is on the contrary
with the Performance Management principle.
But it is a ACR principle that if any employees performance if not ‘good’ i.e.’
satisfactory’ he should be warned in writing. But last 10 years nobody is warned
in BB. It helps to believe that the performance of BB’s employees in not below
than ‘good ‘or they are not evaluated below ‘good’. But the real story is that the
written warning tells that supervisor evaluated employee poorly. The evaluation
may be right or wrong but the concern employee’s negative reaction created a
unfavorable situation for all concern.
PMS has four valuable forms but not confidential to the appraisee. Even he
prepares the draft of the PP form& AP form and other documents are also signed

by the appraisee. He is informed his final rating. As the PMS is just in
implementation, we can not say, what will be actual situation in advance but we
hope for the best.

 In ACR system, supervisor gather performance data of his subordinate through his
direct observation.On the other hand, in PMS, supervisor gather performance data
of his subordinate through:-
• Self report( the employee himself is a source of performance data).
• Direct Observation.
• Written Material.
• Third-Party report.
 In ACR system, supervisor does not record his observations about the
performance of his subordinate. As a result the appraisal may be affected by
recency effect, contrast error and biasness. Even positive or negative impression
management effects on performance rating. On the other hand, in PMS,
supervisor records his observations about the performance of his subordinate. As
a result the appraisal trends to be free from all biasness. In ACR system there are
three types of Annual Confidential/ Appraisal Form:-

• Form ED 35 Employees in Category ‘A’ (Officers & above).

• Form ED 36 Employees in Category ‘B’& ‘C’ (Supervisory &
clerical Staff).
• Form ED 37 Employees in Category ‘D’ (Subordinate Staff).
On the other hand, in PMS There is only one annual appraisal form supported by
following other three forms:-

• Form-1 PPF (Performance Planning Form).

• Form-2 EBR ( Event Behavior Result Form).
• Form-3 HYR ( Half Yearly Review Form) &
• Form-4 APF (Annual Performance Appraisal Form).

Concluding Remarks and Policy Implications

The overall environment of BB is not much favorable for managing excellent and
empowering employees. BB like other govt institutes can not yet avoid bureaucracy
which harpers individual’s creativity and ‘Divide and rule’ strategy creates conflict and
causes the failure of team working reducing team sprit. The success of PMS depends on
top management commitment to the system and their confidence/ faith on their
Bangladesh is a developing country. The country is running through a medium process to
meet abound in all respect. BB, the Central Bank of Bangladesh, the head of Monetary
System & the advisor of Fiscal System is not isolated one. So BB has taken Central Bank
Strengthening Project (CBSP) which is a high ambitious project of $43.46 million. PMS

is a product of CBSP. Top management of BB will take all needful to implement the
project and we hope BB will drive to automation within 2008. By this time PMS will be
habitual with a view of managing excellence in all respect.
To observe the real impact of PMS in BB later, after two or three years a further study
may be made. We wish over all success of PMS on Human Resource Development in
Bangladesh Bank.

In BB, The General Managers are the Department/ Office heads. They are responsible for
all activities of the department/ office. They use their power in different styles, e.g.
autocratic, consultative and participative. The departmental head who uses autocratic
style in major areas creates an autocratic office environment; majority employees of
the department/office may be affected, while some of the employees may be gained.
In such position, PMS may be hampered.

After the departure of that departmental head, the new departmental head may use
consultative/ Participative styles in major areas; the environment will be changed
respectively where the PMS may run as expected.

The top management must give more support to the PMS and with their support more
effective training schedules should be prepared for the appraisers training. The
appraiser must realize and identify of his appraisee’s goals, their measurement, their
target &their weight age.

An employee is ones appraiser and again he is appraisee. It is seen, the copy of a PPF of
certain officer of certain section is taken as a basis of PPF of another officer of
another section. In many cases before setting department/ office goals, sections
goals& higher officers’ goals; initiating officers’ goals are settled. Then their
supervisors’ goals are to be settled. This is bottom- up approach and contrary with
the philosophy of PMS. So goal setting should be based on Top-Down approach.

Some officers take PMS as a burden. It is observed that they perform their duties in the
office just putting their signs in the file; all are made ready by his subordinates. They
are accustomed to evaluate employees by putting only initials on the ACR form.
They are also not capable of performing independently and they are leaded by their
sub-ordinates. They are influenced by positive impression management. These types
of employees should be sorted and takes a different motivation plan for them.

The PMS has goals and competencies. Appraiser/ Moderator should know:
Competencies are input of an employee and goals are output of an employee. There
should have a balance between the evaluation of performance (goals) and
If an employee’s performance rating is excellent; his competencies rating should be
excellent. Ultimately his overall performance will be excellent.
• If his performance rating is excellent but his competencies rating is not
excellent (very good), this makes to think either his performance is over

rated or competencies are under rated. The subjective evaluation of
competencies may be affected by biasness or any other error.
• Again if his performance rating is not excellent but his competencies
rating is excellent, this means that his performance is under rated or
competencies are over rated or he is not well motivated to achieve his
goals though he has excellent level of competencies. If this, the system
should recheck again to find the procedural shortage.

 There is a further confusion about competency evaluation. When an employee

requires level –2 of certain competency to achieve his goals, and if he gains level-
2; the gap is ‘0’ translated as “good”(evaluation). If he gains level-3; the gap is
‘+1’ translated as “very good”. If he gains level-4 (the highest level); the gap is
‘+2’ translated as “excellent”. Again another employee requires level-4 of certain
competency to achieve his goals, and if he gains level-4; the gap is ‘0’. If this gap
is sometimes, it is translated as good; If this gap is most of times, it is translated
as very good; If this gap is all the times, it is translated as excellent. I think if the
gap is ‘0’ (Required level-1 & achieved level-1) all the times it also should be
translate as ‘excellent’. This will shape the evaluation of different of level of
officers’ uniform; will reduce subjectivity of the process and make

 It is debating that whether excellent performance rating and competencies rating

are must or must not for overall excellent performance. But excellent performance
is must. However competencies evaluation process is subjective and criteria
sorted for competency evaluation may create confusions. It may be required
second thought later.

Bangladesh is a developing country. The country is running through a medium process to

meet abound in all respect. BB, the Central Bank of Bangladesh, the head of Monetary
System & the advisor of Fiscal System is not isolated one. So BB has taken Central Bank
Strengthening Project (CBSP) which is a high ambitious project of $43.46 million. PMS
is a product of CBSP. Top management of BB will take all needful to implement the
project and we hope BB will drive to automation within 2008. By this time PMS will be
habitual with a view of managing excellence in all respect. Later on, further study may be
made to evaluate the performance of PMS.

Ahmed M. F. (& Others) 1993. Foreign Banks in Bangladesh: Performance &
Limitations, Dhaka University Journal of Business Studies, Vol. XIV, No. 1, June: 185-
Ahmed F. (& Bhuiyan) 2003. Performance Appraisal Practices in the Telecom Industry
of Bangladesh: A Study of Cases, Dhaka University Journal of Business Studies, Vol.
XXIV, No. 1, June: 153-157.

Akkas M. A. (& Khan) 1990. An Appraisal of the Promotion System in the Nationalized
Commercial Banks in Bangladesh, The Dhaka University Studies, Part C, Vol. X1, No. 1,
June: 139-154.
Alam K. S. (& Mohiuddin) 1997. Compensation System of the Private Commercial
Banks in Bangladesh, Dhaka University Journal of Business Studies, Vol. XVIII, No.1,
June: 219-232.
Abdul Aziz, Y. (1999), Performance Appraisal: Concepts and Applications, Sinaran
Bross, Kula Lumpur.

Antonioni, David, (1994), Improve the management process before discontinuing

performance appraisal, compensation and Benefits Review, May-June p.29

Armstrong, m.and Baron, A. (1998) Performance Management: The New Realistic,

Institute of Personnel and Development, London.
Bangladesh Bank order, 1972 (President’s Order No.127 of 1972)
Bangladesh Bank, Performance Management Manual, 2006.
Bangladesh Bank, Establishment Manual, 1965.
Bangladesh Bank, Competency Dictionary.
Bangladesh Bank, Annual Report, 2004-2005.
Battacharjee D. (& Karmaker) 1989. Performance Evaluation Measures of a Public
Sector Enterprise: A Critical Review, Dhaka University Journal of Business Studies, Vol.
X, No. 2, December: 191-203.
Cambel. L.P. and M.D. Dunnette, R.D. Arvey and L.V. Hellervik (1973) “The
Development and Evaluation of Behaviorally based Rating Scales”. Journal of applied
psychology. No.1 pp. 57
Cummings M.W. (1972) “Theory and Practices of Personnel Management” William
Heineman Ltd. London. pp.111-112.
Flippo E.B. (1976) Principles of Personnel Management, McGraw-Hill, NewYork/

Khan M. A. A. (& Akkas) 1990. An Appraisal of the Promotion System in the

Nationalized Commercial Banks in Bangladesh, The Dhaka University Studies, Part C,
Vol. X1, No. 1, June: 139-154.
Mayer, H.E. (1974) “The Science of telling Executives how They are Doing”. Fortune
Siddique Hossain Abu , Performance Appraisal for Executives and its Relation to
Compensation, ‘The Dhaka University Studies, Part C, Vol. V, No. 2, December, 1984:
Yoder.D. and P.D. Standohar (1982) “Personnel Management and Industrial Relation” 7th
edition,N.J.Prentice Hall Inc.