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Performance Appraisal of Commercial Bank’s Executives: A Study of Selected

Private Commercial Banks in Bangladesh.

Conference Paper · December 2015

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 4th International Conference on
Managing Human Resources at the Workplace, December 4-5, 2015

Performance Appraisal of Commercial Bank’s Executives: A Study

of Selected Private Commercial Banks in Bangladesh.

Dr. Md. Anwarul Kabir

Department of Accounting
University of Chittagong.
mdanwarulkabir@yahoo.com

Suman Dey
Assistant Professor
Department of Humanities
Chittagong University of Engineering & Technology (CUET)
suman_cuet@hotmail.com

Abstract
Performance appraisal is the process of evaluating an employee’s current and/or past performance to
his or her performance standards. The success of performance appraisal depends on how effectively it is
implemented. It also depends on how well the employees have understood the performance appraisal
system and how positively they are oriented towards their system. It is very much critical because it
helps the managers to take the administrative decisions effectively relating to promotions, fringes,
payoffs and merit pay increases of the employees. In such a context, the study is focusing on
performance evaluation system of the banking sector which is one of the fastest growing service sectors
of the country. The main objective of the study is to make an empirical survey on the employees of
three sample private commercial banks in respect of assessing their opinion on the criteria selected for
appraisal of the executives. For the purpose, the study has developed a questionnaire based on recent
literature survey and have gathered the opinions of the executives of three sample banks under the
framework of likert’s 5 points scale. The gathered primary data have been properly analysis by a number
of descriptive statistics, such as, Mean, Standard Deviation, ANOVA and Post hoc multiple comparison
tests. The findings of the study indicate that on a good number criteria, the respondents of the all
sample banks have reached consensus and they have rated these criteria is very high (with a mean score
more than 4.00). These criteria essentially include ability to problem solving, ability to make best use of
teamwork, communication skill, creativity, punctuality, versatility of knowledge of money market, ability
to recover non-performing loans, ability to enhance the business of the company, knowledge of banking
rules and regulations, writing skill, knowledge about the bank’s products, services and polices, dynamic
/proactive leadership, initiative, drive and enthusiasm, ability to negotiate, power of judgment in
decision making, ability to plan, organize and supervise work, sense of responsibility of assigned jobs
and commitment to work and the like.

Keywords: Performance Evaluation, Private Commercial Banks (PCBs), HRM, Bank Executives.

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1.1 Introduction:
Performance evaluation means evaluating an employee’s current and/or past performance to his or her
performance standards (Dessler, G., 2005). Performance appraisals are frequently used in organizations
as a basis for administrative decisions such as employee promotion, transfer, and allocation of financial
rewards; employee development, including identification of training needs and performance feedback.
Good performance appraisals benefit both employee and the organization. They promote common
understanding of individual needs, work objectives and standards of acceptable performance. They also
give employees and managers a useful tool to aid in employee development. One human resource
objective for using performance appraisal systems is to determine who should be promoted, demoted,
transferred, or terminated (Talukder, M.B.U and Saha, S., 2007).

A well-designed performance appraisal system also can encourage individuals to work together as a
team. If this is an organization’s goal, it must face several challenges in designing and implementing such
a system. Obviously, using the supervisor in the evaluation process, self-managed group members can
evaluate each other. Because self managed teams require a unique approach to performance appraisal,
the process may need to be redesigned.

Commercial banks as the most important functionary of the financial system play a dynamic role in the
economic development of Bangladesh through mobilization of savings and allocation of credit to
productive sectors. However, directed and inefficient credit allocation by the commercial banks of
Bangladesh in various economic sectors without adequate credit appraisal and monitoring, inter alia,
ultimately led to the widespread loan delinquency, and deteriorating health of the entire financial
system. In Bangladesh, private commercial banking did not start immediately after independence, since
all the financial institutions were nationalized at that time. But subsequent regimes of later periods
started privatizing the financial institutions and industries quite rapidly, and in the present time, there
are state owned as well as private commercial banks in Bangladesh. As private Commercial banks of
Bangladesh have to deal with the basic problems associated with the business environment of a
developing economy as well as try to remain profitable, an effective evaluation of the performance of
private commercial banks of this country would be helpful in finding out the problems and prospects of
commercial banking in a developing economy. This evaluation requires answers to three questions: first,
how the banks are performing (in terms of different indicators); second, what are the basic problems
these banks have to face in Bangladesh, and finally, how the banks are tackling the problems.

In many organizations, two evaluation systems exist side by side: the formal and the informal. Managers
often think about how well employees are doing; this is informal system. Political and interpersonal
processes influence it, so those employees who are linked better than others have an edge. But
managers cannot find out the real /actual performance of employees through this system because here
managers liking or disliking are material and employee’s performances are immaterial. By contrast, a
formal performance evaluation is a system set up by organization to regularly and systematically
evaluate employees’ performance. Most of the organizations follow formal evaluation system because
they think that performance appraisal is the essential thing for the organizational success. Managers
must maintain the visibility in the performance evaluation program because it may accelerate the
authenticity of the program (Rahim, S.A, 2012).

There are many different models and procedures of the employee performance evaluation that banking
companies have in the form of standard documents. The focus of this paper is to present one such

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model from a practical viewpoint that could serve other companies as an example that they consider
following it. The model is presented in the form of a procedure of how the employee performance is
evaluated by the management of a private commercial bank.

For measuring the employee’s overall performance, we can use the internal model, where the short
explanation of the example of such a model follows taking into account employee’s performance
appraisal. The employee performance appraisal is based on the following four questions that represent
also the guiding principles:
1. How is the performance evaluated?
2. How is the overall performance measured?
3. How is the distribution of performance checked?
4. How to work with the overall performance results?

The simplified model of performance appraisal shown in Figure-1 indicates three kinds of appraisal:
i) A comprehensive review
ii) Progress or periodic reviews, and
iii) Continuous monitoring.
To illustrate a model, a standard performance appraisal model presented in Figure-1 below stresses on
the conventional steps that may be undertaken to establish a good performance appraisal system in any
organization.
Figure1: Performance Appraisal Model

Actual performance

Outputs
Inputs Measuring performance against
Setting verifiable objectives that standards.
become standards. 1) Comprehensive review (e.g.
annually)
2) Progress or periodic reviews
(e.g. for milestones, quarterly,
monthly)

Corrective actions for undesirable

deviation from standards.

Source: Weihrich, H. (1985), “Management Excellence: Productivity through MBO”, McGraw-Hill

Book Company, P. 125.

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The important thing of the above model is that here formal comprehensive reviews are supplemented
by frequent progress or periodic reviews. These reviews can be short and relatively informal, but they
help to identify problems or barriers that hinder effective performance. Finally, there is continuous
monitoring of performance. With this system, when performance deviates from plans, one does not
have to wait for the next periodic review to correct it. The superior and the subordinate discuss the
situation immediately so that corrective actions can be taken at once in order to prevent a small
deviation from developing into a major problem.

2. Statement of the Problem

The survey of different research studies in the concerned area indicates that the term performance
evaluation, merit rating and performance appraisal are mostly used in measuring the performance of an
employee or employees (Bhattacharjee and Karmaker, 1989). Beach (1965) defined performance
appraisal as “the systematic evaluation of the individual with respect to his/ her performance on the job
and his/her potential for development”. A more comprehensive definition of performance appraisal was
given by Douglas et. al.,(1985). According to them, “performance appraisal is a systematic review of
employee’s meaningful job behavior to respects their effectiveness in meeting their job requirements
and responsibilities”.

Performance appraisals are important for executive’s motivation, attitude and behavior development,
communicating organizational aims, and fostering positive relationships between management and
executive. Performance appraisals provide a formal, recorded, regular review of an individual’s
performance, and a plan for future development. The process by which a manager or consultant
examines and evaluates an employee's work performance by comparing it with preset standards,
documents the results of the comparison, and uses the results to provide feedback to the employee to
show where improvements are needed and why. Performance appraisals are employed to determine
who needs training, and who will be promoted, demoted or retained. Performance Appraisal is the
systematic evaluation of the performance of employees and to understand the abilities of a person for
further growth and development of organization. His or her line manager appraises each staff member.
Annual performance appraisals enable management to monitor performance against standards,
agreeing expectations and objectives, and delegation of responsibilities and tasks. More so, employee
performance appraisals also establish individual training needs which virtually lead to organizational
training needs analysis and planning. Most often, performance appraisal data feeds into organizational
annual pay and grading reviews, and coincides with the business planning for the next trading year.

Traditionally, performance appraisal is one of the most significant prerequisites of effective formation
and employment of personnel and enables better motivation, development and compensation of
personnel. Appraisal enables one to obtain information about the work peculiarities and work results.
Leaders and executors, as well as organization as a whole, need such information. They all require
feedback about their performance. Feedback should be extensive, in other words 360º. Such appraisal
systems were first applied in academic circles for appraising leaders by sub-ordinates and later already
in many world wide known companies, such as IBM, FORD et al (Maurer, Tarulli, 1996: 238). Employees’
performance appraisal and feedback about it enables them to enhance their self-evaluation and sense

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of security, pursue deserved work and compensation and improve their activity. The results of the
performance appraisal are vital compensation criteria and enable its efficiency.

Some authors argued that, empirical studies on performance appraisal have done little to improve its
usefulness as a managerial decision-making tool (Thorndike, 1949; Banks and Murphy, 1985; Napier and
Latham, 1986). Some have suggested that the issues dominating performance appraisal research such as
cognitive processing, evaluator training, and formats and the studies methodological designs seem to
odds with organizational actualities. Take for instance, the duo of Banks and Murphy (1985) warned that
if cognitive process research continued along contemporary lines, the apparent gap between
performance appraisal research and practice would increase. In the same vein, Napier and Latham
(1986) suggested that progress on performance appraisal practice has lagged because the research
which might inform practice has ignored Thorndike's (1949) call for practicality in its quest for quantity
stylishness. It is very important to note that the argument of the aforementioned mentioned scholars
shows that Performance Appraisal practice in most organizations is always bias ridden just as the case in
the selected petroleum companies in Nigeria. The gap is actually lies in constant failure of scientific
design of the processes of Performance Appraisal in organizations. Once the research design fails in its
expected procedures, then automatically the implementation and end result of the exercise too will
fail/or be bias. To this end, Bernardin and Villanova (1986) concluded that better understanding of the
organizational contexts in which appraisal takes place was necessary in order to improve the degree to
which performance appraisal research contributes to performance appraisal practice.

In Bangladesh, a variety of practices has been observed in respect of performance appraisal of various
private commercial banks. Based on the attributes of the performance appraisal a distinction may be
made been the practices of local private commercial banks and multinational banks. In a recent research
paper, Talukdar and Saha identified these differences which deserve mention together:

“1. Rating appraisal system: Among various kinds of performance appraisal system, local banks
widely use the point rating system. On the other hand, although multinational banks give more
emphasis on quality of work, dependability, job knowledge, attendance, accuracy, etc.
2. Time: Local banks generally evaluate the performance of employee on annual basis. In contrast,
multinational banks evaluate the divisional performance of employee on quarterly basis.
3. Level: Local banks categorize the performance under three levels.
a. Junior level b. Mid-level c. High level
On the other hand, multinational banks categorize the employees under three categorizes for
performance appraisal.
a. Non-executive level b. Executive level (Mid-level) c. Top Management.
4. Rating Scale: For most of the local banks, the rating of the employees is done under the
following scale:
i) Outstanding (80 and above): Superior actions and results that consistently deliver very high
quality performance far exceeding expectation.
ii) Very good (70 and 79): High quality performance where actions and results frequently exceed
expectation.
iii) Good (60-69): satisfactory performance that effectively meets expectation.
iv) Average (50-59): Actions and results that sometimes fall short of expectation and do not always
meet requirements of the job.

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On the contrary, the multinational bank rates the employees in the following ways:
Scale Standard / Criteria for achieving the scores
1 Significantly above the performance level required by the business.
2 Consistently better than the performance level required by the
business.
3 Consistently achieved the performance level required by the business.
4 Not consistently achieving the performance level by the business.
5 Significantly below the performance level required by the business.

The scores achieved by the employees indicate the following:

1-2: Indicates above business expectation.
3: Benchmark Behavior (meets business expectation for effective performance)
4-5: Below business expectation” (Talukder, M.B.U and Saha, S., 2007).
Apart from the above differences, other important features of performance evaluation practice of the
sample commercial banks are enumerated in section 5.1.

In Bangladesh, as a topic of research, performance evaluation may be considered as a fairly new one as
Human Resource Managers here consider the area as a subject of official secrecy and most of them have
been found very reluctant while talking about exact policies adopted in their companies. Hence, only a
few articles regarding the employee performance evaluation models have been published in peer
reviewed journals of Bangladesh. Many of them describe this issue from different perspectives and only
a few of them provided a comprehensive view on any particular industry or sector. To mitigate this
research gap, this study is undertaken to make a critical assessment of performance appraisal schemes
of private commercial banks which is believed to be able to attract the policy makers of the regulatory
bodies and the sample banks. In this connection, it is also worth mentioning that for having well
established state of the art and stable human resource management policy, private commercial banks in
Bangladesh has already drawn the attraction of the graduates with competitive advantage for
employment. In such a context, hopefully, the study will make a commendable contribution to rethink
about the existing performance evaluation schemes prevalent in the banking sector.

3. Objectives of the Study:

The Study is undertaken with the following objectives:

Main Objective: To make an empirical survey on opinions of private commercial banks executives as to
different areas of performance evaluation schemes.

Sub Objectives:
i) To present performance evaluation practices by sample Private commercial banks in
Bangladesh.
ii) To assess the opinions of the respondent banker’s as to the proposed model of
performance evaluation.

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4. Methodology of the Study

4.1 Desk Study:

For the purpose of the study, an extensive literature survey has been conducted. The main reason of
such a survey is to have an idea about performance evaluation of bank’s executives as revealed in
various research works. For the purpose of the study desk aimed at considering the following researcher
materials.

a. Different articles published in various national and international journals;

b. Published and unpublished doctoral dissertations in different universities;
c. Reports prepared by various organizations have also been taken into consideration;
d. A comprehensive library work which took place in the Chittagong University library, ICMAB,
Public library Chittagong, British Council library, BSEC library, DSE library and CSE library;
e. Electronic library sources to search local and international journals.

4.2 Primary Data: The primary data relates to performance appraisal by the selected bank’s executive.
The opinions have been collected from bank’s executive on the basis of a prepared questionnaire. The
requisite primary data were collected from three (3) banks. Therefore, a questionnaire method of data
collection was extensively used in collecting primary data. Interview questions were open-ended, close-
ended, and Likert’s 5 point scale questions.

4.3 Secondary Data:

The secondary data used for the study of the sample banks under study. These were basically collected
from selected banks. Besides, the secondary data also include: research studies, text books, the relevant
articles published in highly esteemed journals and features/ columns of the newspapers and periodicals
covering performance evaluation of bank’s executives.

4.4 Data Analysis Techniques

The statistical tools have been used to analyze the collected data. The analysis and interpretation of
data has been done both qualitatively and quantitatively. Firstly, primary data have been analyzed with
SPSS software, using some descriptive statistics like Mean, Standard Deviation and ANOVA test as well
as Post Hoc Multiple Comparison tests (Tamhane / LSD), to explain the respondent’s answers on the
questions. Analysis of Variances (ANOVA) is a useful techniques used in the field of business and is
important in the context of such situations where the researcher wants to compare among the
population mean.

5. Findings of the Study

5.1 Overview and Features of Performance Appraisal Schemes of the Sample Banks.

5.1.1 Dutch-Bangla Bank Limited

Dutch-Bangla Bank Limited (the Bank, DBBL) is a scheduled joint venture commercial bank between local
Bangladeshi parties spearheaded by M Sahabuddin Ahmed (Founder & Chairman) and the Dutch
company FMO. DBBL was established under the Bank Companies Act 1991 and incorporated as a public

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limited company under the Companies Act 1994 in Bangladesh with the primary objective to carry on all
kinds of banking business in Bangladesh. DBBL commenced formal operation from June 3, 1996. Since
then DBBL gained its huge popularity because of its social welfare activities and affordable banking
service. The Bank is listed with the Dhaka Stock Exchange Limited and Chittagong Stock Exchange
Limited.

Dutch-Bangla Bank Limited (DBBL) is widely behind as one of the most innovative and technologically
advanced bank in Bangladesh. DBBL stands to give the most innovative and affordable banking products
to Bangladesh. Amongst banks, DBBL is the largest donor in to social causes in Bangladesh. It stands as
one of the largest private donors involved in improving the country. DBBL is proud to be associated with
helping Bangladesh as well as being a leader in the country’s banking sector. Dutch-Bangla Bank believes
in its uncompromising commitment to fulfill its customer needs and satisfaction and to become their
first choice in banking. Taking cue from its pool esteemed clientele, Dutch-Bangla Bank intends to pave
the way for a new era in banking that upholds and epitomizes its vaunted marques “Your Trusted
Partner”.

DBBL is the one of the pioneer banks in Bangladesh to be fully automated. The Electronic-Banking
Division was established in 2002 to undertake rapid automation and bring modern banking services into
this field. Full automation was completed in 2003 and hereby introduced plastic money to the
Bangladeshi masses. DBBL also operates the nation’s largest ATM fleet and in the process drastically cut
consumer costs and fees by 80%. Moreover, DBBL choosing the low profitability route for this sector has
surprised many critics. DBBL had pursued the mass automation in Banking as a CSR activity and never
intended profitability from this sector. As a result it now provides unrivaled banking technology
offerings to all its customers. Because of this mindset, most local banks have joined DBBL’s banking
infrastructure instead of pursuing their own. The Dutch Bangla Bank Ltd. has 263 Fast Track and a total
of 2454 ATM units as of December 2013.

Features of Performance Appraisal Schemes of the Dutch Bangla Bank Limited

In Dutch Bangla Bank Ltd, the executives are rated under 5 point scale for each of the criteria and this
criteria necessarily include personality, judgment & sense of proportion, initiative and drive, power of
expression, ability to perform assign work, discipline, perseverance & devotion to duty, ability to
implement decision, integrity, sense of responsibility, ability to plan, organize and supervise work,
capacity to take independent decision, punctuality, dealing with colleagues, knowledge of banking rules
and dealing with clients.

For branch manager, ten performance evaluation factors are taken into consideration which are
categorically, achievement of yearly target deposit, achievement of yearly advances target, achievement
of yearly profit target, achievement of yearly account opening target, cumulative deposit amount as at
end of December, cumulative advance amount as at end of December, cumulative profit amount of the
year as at end of December, cumulative number of CASA amount as at end of December, percentage of
FDR as at end of December, no classification status as at end of December.

DBBL also categorizes ten factors on the basis of weights, for example, some factors carry ten points and
the other factors carry 5 points. The total weight for above mentioned ten factors is equal to eighty five.
Finally, on the basis of individual executive scores, the total scores earned by the executives are properly

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calculated which is later considered as one of the prime bases for performance appraisal of the branch
manager.

5.1.2 Bank Asia Limited:

Bank Asia has also been able to improve organizational performance via improving the performance of
individual contributors and also recognizes existing talents to fill up the higher vacancies within the
organization or place them in the right position, wherein the best use of their abilities can be ensured.
Bank Asia has been launched by a group of successful entrepreneurs with recognized standing in the
society. The management of the Bank consists of a team led by senior bankers with decades of
experience in national and international markets. The senior management team is ably supported by a
group of professionals many of whom have exposure in the international market.

It was the 27th November, 1999 when the bank started to function. It set milestone by acquiring the
business operations of the Bank of Nova Scotia in Dhaka, first in the banking history of Bangladesh. It
again repeated the performance by acquiring the Bangladesh operations of Muslim Commercial Bank
Ltd. (MCBL), a Pakistani bank.

In the year 2003 the Bank again came to the limelight with oversubscription of the Initial Public Offering
of the shares of the Bank, which was a record (55 times) in our capital market's history and its shares
commands respectable premium. The paid up capital of the Bank is over Tk. 6936.32 million as of
December 2013. The management of the Bank has been carefully selected consists of a team led by
senior bankers with decades of experience in national and international markets. The senior
management team is ably supported by a group of professionals many of whom have exposure in the
international market.

Bank Asia’s vision is to have a poverty free Bangladesh in course of a generation in the new millennium,
reflecting the national dream. Our vision is to build a society where human dignity and human rights
receive the highest consideration along with reduction of poverty. By December, 2013, Bank Asia Ltd.
has established 86 branches and an employed total of 1600 employees.

Features of Performance Appraisal Schemes of the Bank Asia Ltd

Bank Asia considers three broad areas of performance evaluation which are specifically, ability of the
executives to promote its core business, organizational behavior and personal behavior. Out of these
three areas, ability to promote its core business is given paramount importance which carries 80% of the
total scores.

As far as, ability to promote its core business is concerned it takes into account a number of professional
capabilities which essentially include timely visiting of nonperforming borrowers (score 20), reduction of
classified loans (score 20), arranging timely meeting with nonperforming clients with zonal heads and
DMD (score 6), cash recovery of classified loans (score 6), regularization of classified loans (score 6),
recovery of written off loans (score 2), submission of the client visit report(score 5), prepare a recovery

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statement of the branch on monthly basis(score 5) and idea sharing on strategy and plan for
nonperforming loan recovery issues (score 10).

With regard to organizational behavior, the performance evaluation factors are: problem solving (score
2), teamwork (score 2), communication/ transparency (score 2), feedback (score 2), dynamic / proactive
leadership (score 2), attitude/temperament (score 2).

For personal behavior, the areas of performance evaluation are: creativity/ innovation (score 2),
attendance/ timekeeping (score 2), execution efficiency/quality/accuracy (score 2), professional role
model (score 2).

Finally, on the basis of scores achieved by individual banking executives under the aforesaid three major
areas the total score is counted by and considered for final assessment of every executive. Apart from
this score, this qualitative opinion of immediate supervisor and branch head is also given importance.

5.1.3 Prime Bank Limited:

Prime Bank Limited is a private commercial bank in Bangladesh. It was established on April 17, 1995. It is
now one of the banks in Bangladesh which follows international standard in banking and finance. Prime
Bank was created and commencement of business started on 17 April 1995. The sponsors are reputed
personalities in the field of trade and commerce and their stake ranges from shipping to textile and
finance to energy etc. Prime Bank offers all kinds of Commercial Corporate and Personal Banking
services covering all segments of society. Diversification of products and services include Corporate
Banking, Retail Banking and Consumer Banking right from industry to agriculture, and real estate to
software. The paid up capital of the Bank is over Tk. 10,293 million as of December 2013.

Prime Bank Limited (PBL) is considered as the leading private sector bank of the country in terms of
efficiency, capital adequacy, asset quality, sound management and profitability. Launching of Islamic
banking operation by Prime Bank by introducing different innovative products and services based on
Islamic Shari’ah got tremendous response from a considerable portion of its clientele who are eager to
accept Shari’ah compliant modern and innovative banking products and services. Prime Bank is also
offering Islamic banking products and services through Islamic Banking Service Desks set up at its
conventional banking branches.

Prime Bank enjoys a very strong brand image in the banking sector and the bank has a very good market
reputation and its Islamic banking business has proved to be superior compared to others. Its Islamic
banking market share and growth rate is the highest among the conventional banks having Islamic
banking branches. Considering the fact that the Islamic banking industry is at its growth stage in the
country and competitive rivalry among the industry members is increasing, Prime Bank have set the
vision to be a trend setter in this field by adopting proper strategy and objective in order to achieve its
goal. By December, 2013, Prime Bank Ltd. has established 117 branches and an employed total of
2710 employees. The Prime Bank Ltd. has a total of 151 ATM units as of December 2013.

Features of Performance Appraisal Schemes of the Prime Bank Ltd

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In prime bank limited, the performance appraisal scheme is typical one which considered three broad
areas of performances under the heads of i) self appraisal (score 100), ii) competency & demonstration
of leadership behaviors (score 100), and iii) skill & knowledge assessment (score 100).

As far as self assessment executive is concerned, the authority asks the incumbent to assess himself/
herself against his/her job description which clearly demonstrates his/her business performance. It is
mentioned earlier that this self appraisal system constitutes one-third of the total scores of the
performance appraisal systems.

With regard to competency and leadership behaviors, the important factors that are taken into account
are: clarity on business, initiative & drive, creativity, analytical power and communication, customer
focus, strategic influence, team commitment integrity & leading, developing skill, organizational
awareness & inter-personal relationship and conduct in service. This broad section also carries one-
third of the total weights.

The third broad category of performance appraisal is skill and knowledge assessment which essentially
include a number of performance indicators which are: core skills, planning, performance proficiency &
creativity, time and record management, project management, change management, customer
management, banking rules & regulations, knowledge of other functions, organization & people,
information management and understand economy. Like the other two broad areas, this section also
carries one- third of the total weights.

Finally, the aggregate score of each executive is counted for final assessment of the executives. At this
stage, the achievement of the executive are rated and fallen under six categories which are: i) Excellent
(score from 255% and above), ii) Very Good (score from 225% to 254%), iii) Good Plus (score from
195% to 224%), iv) Good (score from 165% to 194%), v) Fair (score from 135% to 164%) and vi)
Marginal Passed (score from less than 135%).

5.2 Performance Evaluation Practices in Private Commercial Banks: Empirical Survey

It is mentioned in the objectives of the study that this research is primarily endeavored to make an in-
depth field investigation into the opinions of bank executives on performance appraisal practices by the
sample banks. The study makes a comparative analysis of the opinions of executives on different
elements on performance appraisal schemes. For the purpose of making comparison, the areas of
appraisal schemes have been classified under the Knowledge and Basic Skill, Interpersonal Skill and
Individual Skill, Organizational Skill and Promotion of Business and Customer Relationship.

Now findings in respect of knowledge and basic skill is summarized in Table-1

Table-01
Model for Performance Assessment: Knowledge and Basic Skill
Prime Bank Dutch Bank Asia
Elements Ltd Bangla Ltd Post
Bank Ltd ANOVA Hoc

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Mean Mean Mean Test

Scores Scores Scores
Knowledge of banking rules and 4.1000 4.0000 4.0000 .714
regulations and money market
Writing Skill 4.3000 4.2000 4.0000 .704
Knowledge about the Bank’s 4.5000 4.1000 4.2000 .076
Products, services and polices.
Analytical Ability 4.8000 3.9000 3.2000 .000 LSD
Knowledge of other functions 3.9000 3.9000 3.7000 .871
Intelligence and mental alertness 3.5000 3.6000 3.6000 .935
Source: Field Survey

Table-1 shows that all executives of the three banks have placed high emphasis on knowledge of
banking rules and regulations, writing skill and knowledge about the bank’s products, services and
polices where the mean scores of every group respondents are above 4.00. For these three criteria,
ANOVA reveals no significant difference of opinion with regard to opinions of different groups of
respondents. Thus, it may be concluded that all the groups of respondents have reached consensus on
the importance of these three elements of performance evaluation.

However, with regard to another criteria, that is, analytical ability, the table shows that executives of
prime bank have given more weight (mean score 4.80) than the executives of Dutch Bangla Bank Ltd
(mean scores 3.90) and executives of Bank Asia Ltd (mean scores 3.20). Further, ANOVA reveals that on
this element of performance evaluation, three groups of respondents maintain significant difference
(P=.000). Now for discovering the reasons behind this significant difference, we applied LSD test which
reveals that executives of Prime Bank Ltd maintain significant difference with both executives of Dutch
Bangla Bank Ltd and Bank Asia Ltd respectively are (P=.001 & P=.000) whereas, Dutch Bangla Bank Ltd
also maintain significant difference with Bank Asia Ltd (P=0.008).

For the other elements, categorically; knowledge of other functions and intelligence and mental
alertness, all the groups of respondents have given moderate weight as these two elements, mean
scores range from 3.50 to 3.90. With regard to these two elements, ANOVA reveals no significant
difference among the groups. Therefore, all three groups of respondents are in agreement on moderate
importance of these two elements of performance evaluation. At this stage, results of empirical study
on different elements of interpersonal skill and individual skill are stated below in Table-2:

Table-02
Model for Performance Assessment: Interpersonal Skill and Individual Skill
Prime Dutch Bank Asia
Bank Ltd Bangla Bank Ltd
Elements
Ltd ANOVA Post Hoc
Mean Mean Mean Test

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Scores Scores Scores

Appearance and dress code 4.1000 4.1000 4.4000 .612
Creativity & Innovative ideas 4.4000 4.3000 4.6000 .659
Attendance and Punctuality 4.5000 4.4000 4.6000 .750
Personality 4.6000 4.7000 4.6000 .904
Discipline 4.4000 4.4000 4.3000 .921
Capacity to taking independent 4.2000 4.3000 4.4000 .719
decision.
Perseverance 4.0000 4.2000 4.4000 .556
Ability to adopt in changing 4.2000 4.5000 4.4000 .610
circumstances.
Attitude / Temperament 4.6000 4.6000 4.4000 .612
Human Quality 4.7000 4.7000 4.6000 .873
Ethical value and trust worthiness 4.9000 4.0000 3.3000 .000 Tamhane
Teamwork 4.8000 4.4 000 4.5000 .002 LSD
Honesty and Integrity 4.2000 2.6000 3.3000 .000 LSD
Managing Resources 4.4000 3.8000 3.2000 .010 Tamhane
Displaying high level of 3.7000 4.1000 4.4000 .199
professionalism to clients.
Dealing with colleagues and superior 3.1000 3.3000 3.3000 .844
officers.
Pleasing Character 3.6000 3.9000 3.6000 .667
Foreseeing and managing the business 3.9000 3.5000 3.6000 .561
risk factors.
Communication Skill 4.3000 4.0000 4.1000 .303
Source: Field Survey

Table-2 reveals that all executives of the three banks have placed high emphasis on appearance and
dress code, creativity & innovative ideas, attendance and punctuality, personality, discipline, capacity to
taking independent decision, perseverance, ability to adopt in changing circumstances, attitude /
temperament, human quality as the mean scores of every group respondents in relation to aforesaid
elements are above 4.00. For these three criteria, ANOVA reveals no significant difference of opinion
with regard to opinions of different groups of respondents. Thus, it may be commented that all the
groups of respondents have reached consensus on the importance of these ten elements of
performance evaluation.

With regard to ethical value and trust worthiness, the table shows that executives of Prime Bank Ltd
have given more weight (mean score 4.90) than the executives of Dutch Bangla Bank Ltd (mean scores
4.00) and executives of Bank Asia Ltd (mean scores 3.30). Further, ANOVA reveals that on this element
of performance evaluation, three groups of respondents maintain significant difference (P=.000). Now
for identifying the reasons behind this significant difference, we applied Tamhane test which reveals
that executives of Prime Bank Ltd maintain significant difference with both executives of Dutch Bangla

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Bank Ltd and Bank Asia Ltd respectively are (P=.006 & P=.003) whereas, Dutch Bangla Bank Ltd maintain
insignificant difference with Bank Asia Ltd (P=0.264).

For ability to engage in effective teamwork, the survey results indicate that the mean scores among the
three groups, that is, executives of Prime Bank Ltd, Dutch Bangla Bank Ltd and Bank Asia Ltd respectively
are 4.80, 4.40 and 4.50. To elucidate the reasons behind this significant difference on Teamwork, we
applied LSD test which reveals that Prime Bank Ltd maintain significant difference with both Dutch
Bangla Bank Ltd and Bank Asia Ltd (P=.001 and .000) whereas Dutch Bangla Bank Ltd also bear
significant difference Bank Asia Ltd (P=. 008).

With respect to honesty and integrity, the descriptive analysis indicated that the mean scores among the
three groups, that is, executives of prime bank Ltd have given more weight (mean score 4.20) than the
executives of Dutch Bangla Bank Ltd (mean scores 2.60) and executives of Bank Asia Ltd (mean scores
3.30). Now for uncovering the reasons behind this significant difference on honesty and integrity, we
applied LSD test which reveals that Prime Bank Ltd maintain significant difference with both Dutch
Bangla Bank Ltd and Bank Asia Ltd (P=.000 and .010) whereas Dutch Bangla Bank Ltd also bear
significant difference Bank Asia Ltd (P=. 039).

However, it is evident from appendix that the mean scores among executives of Prime Bank Ltd, Dutch
Bangla Bank Ltd and Bank Asia Ltd respectively are 4.40, 3.80 and 3.20. Whilst ascertaining the variation
of opinions on managing resources, we applied Tamhane test which reveals that Prime Bank Ltd
maintain significant difference with Bank Asia Ltd (P=.009) whereas Dutch Bangla Bank Ltd bear
insignificant difference with both Prime Bank Ltd and Bank Asia Ltd (P=.095 and P=. 291).

For the other elements, categorically; displaying high level of professionalism to clients, dealing with
colleagues and superior officers, pleasing character, foreseeing and managing the business risk factors
and communication skill all the groups of respondents have given moderate weight as these five
elements, mean scores range from 3.10 to 4.40. With regard to these five elements, ANOVA reveals no
significant difference among the groups. Therefore, all three groups of respondents are in agreement on
moderate importance of these five elements of performance evaluation. Now, the criterion under the
broad head of organizational skill is shown in Table-3.

Table-03
Model for Performance Assessment: Organizational Skill
Prime Dutch Bangla Bank Asia
Bank Ltd Bank Ltd Ltd
Elements
Mean Mean Mean ANOVA Post Hoc
Scores Scores Scores Test
Leadership- Dynamic / proactive 4.0000 4.1000 4.5000 .352
Initiative, Drive and Enthusiasm 4.5000 4.0000 4.2000 .261
Ability to negotiate 4.3000 4.7000 4.5000 .438
Power of Judgment in decision making 4.2000 4.4000 4.3000 .846
Ability to plan, organize and supervise 4.1000 4.1000 4.4000 .385
work.

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Sense of responsibility of assigned 4.2000 4.0000 4.4000 .472

jobs and commitment to work.
Managing capabilities including crisis 4.1000 4.2000 4.4000 .659
Management.
Decision making in a group 4.3000 3.8000 3.0000 .003 LSD
Preserve of official document and 4.1000 2.6000 3.3000 .000 LSD
records maintenance confidentiality.
Preparedness to work under pressure 3.2000 3.7000 3.7000 .215
Participation in planning 4.1000 3.8000 4.0000 .738
Ability to implement decision 3.8000 4.1000 4.4000 .293
Skill for setting strategy 4.1000 4.1000 3.7000 .494
Source: Field Survey

Table-3 reveals that all executives of the three banks have placed high emphasis on dynamic /proactive
leadership, initiative, drive and enthusiasm, ability to negotiate, power of judgment in decision making,
ability to plan, organize and supervise work, sense of responsibility of assigned jobs and commitment to
work, managing capabilities including crisis management where the mean scores of every group
respondents are above 4.00. For these three criteria, ANOVA reveals no significant difference of opinion
with regard to opinions of different groups of respondents. Thus, it may be opined that all the groups of
respondents have reached consensus on the importance of these ten elements of performance
evaluation.

With regard to decision making in a group, the table shows that executives of Prime Bank Ltd have
given more weight (mean score 4.30) than the executives of Dutch Bangla Bank Ltd (mean scores 3.80)
and executives of Bank Asia Ltd (mean scores 3.00). Further, ANOVA reveals that on this element of
performance evaluation, three groups of respondents maintain significant difference (P=.003). Now for
identifying the reasons behind this significant difference, we applied LSD test which reveals that
executives of Prime Bank Ltd maintain insignificant difference with executives of Dutch Bangla Bank Ltd
(P=.154) and bear significant difference with Bank Asia Ltd (P=.001) whereas, Dutch Bangla Bank Ltd
maintain significant difference with Bank Asia Ltd (P=0.027).

However, In case of managing resources, the descriptive analysis indicated that the mean scores among
the three groups, that is, executives of prime bank have given more weight (mean score 4.10) than the
executives of Dutch Bangla Bank Ltd (mean scores 2.60) and executives of Bank Asia Ltd (mean scores
3.30). Further, ANOVA reveals that on this element of performance evaluation, three groups of
respondents maintain significant difference (P=.000). Whilst ascertaining the variation of opinions on
managing resources, we applied LSD test which reveals that Prime Bank Ltd maintain significant
difference with both Dutch Bangla Bank Ltd and Bank Asia Ltd respectively are (P=.000 & P=.017) more
so Dutch Bangla Bank Ltd bear significant difference with Bank Asia Ltd (P=.035).

For the other elements, categorically; participation in planning, preparedness to work under pressure,
ability to implement decision, skill for setting strategy all the groups of respondents have given
moderate weight as these four elements, mean scores range from 3.20 to 4.40. With regard to these
four elements, ANOVA reveals no significant difference among the groups. Therefore, all three groups of
respondents are in agreement on moderate importance of these four elements of performance

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evaluation. At this stage, the results of empirical survey under the broad head of promotion of business/
customer relationship have been presented in table-4.

Table-04

Model for Performance Assessment: Promotion of Business and Customer Relationship

Prime Dutch Bangla Bank Post Hoc
Bank Ltd Bank Ltd Asia Ltd Test
Elements
Mean Mean Scores Mean ANOVA
Scores Scores
Marketing ability 4.4000 4.0000 4.2000 .418
Ability to collect deposits as per set 4.2000 4.3000 4.3000 .945
target.
Ability to market company’s banking 4.2000 4.0000 4.3000 .704
products to existing corporate and retail
customers.
Ability to motivate existing customers to 4.1000 4.0000 4.5000 .153
pay the dues in time.
Ability to enhance business of both 4.5000 4.2000 4.4000 .534
clients and the bank.
Ability to recover the outstanding loans 4.8000 4.1000 4.4000 .293
of the classified accounts.
Customer Client Relationship/ dealing 4.1000 4.0000 3.9000 .844
with bank’s Client
Problem solving ability in customer need 4.3000 4.7000 4.4000 .048
satisfaction
Ability to market products or services to 4.1000 3.6000 3.2000 .025 LSD
new corporate and retail customers.
Quality and quantity of works 3.9000 4.3000 4.4000 .261
Overall contribution to profit of the 4.1000 3.9000 3.9000 .807
branch and the company as a whole.
Source: Field Survey

Table-4 shows that all executives of the three banks have placed high emphasis on marketing ability,
ability to collect deposits as per set target, ability to market company’s banking products to existing
corporate and retail customers, ability to motivate existing customers to pay the dues in time, ability to
enhance business of both clients and the bank, ability to recover the outstanding loans of the classified
accounts, customer client Relationship/ dealing with bank’s client, problem solving ability in customer
need satisfaction where the mean scores of every group respondents are above 4.00. For these eight
criteria, ANOVA reveals no significant difference of opinion with regard to opinions of different groups

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of respondents. Thus, it may be concluded that all the groups of respondents have reached consensus
on the importance of these eight elements of performance evaluation.

However, with regard to analytical ability, the table shows that executives of prime bank have given
more weight (mean score 4.10) than the executives of Dutch Bangla Bank Ltd (mean scores 3.60) and
executives of Bank Asia Ltd (mean scores 3.20). Further, ANOVA reveals that on this element of
performance evaluation, three groups of respondents maintain significant difference (P=.025). Now for
discovering the reasons behind this significant difference, we applied LSD test which reveals that
executives of Prime Bank Ltd maintain insignificant difference with executives of Dutch Bangla Bank Ltd
(P=.117) and bear significant difference with Bank Asia Ltd (P=.007) whereas, Dutch Bangla Bank Ltd
maintain significant difference with Bank Asia Ltd (P=0.207).

For the other elements, categorically, quality and quantity of works, overall contribution to profit of the
branch and the company as a whole all the groups of respondents have given moderate weight as for
these two elements, mean scores range from 3.90 to 4.40. With regard to these two elements, ANOVA
reveals no significant difference among the groups. Therefore, all three groups of respondents are in
agreement on moderate importance of these two elements of performance evaluation.

6. Summary and Conclusion:

Performance appraisal is no doubt a management tool for aligning corporate performance with
individual performance. It is used for many different purposes such as pay increases, improvement and
training, transfers, compensations, promotion, employee recognition, and termination. In this study,
three famous private banking companies of Bangladesh have come under scrutiny for making an
assessment of prevalent performance appraisal system in the banking sector. The study reveals that all
the sample banks follow some hard and fast framework for assessing their executives and managers.
While revealing the commonalities among the performance assessment schemes of the sample
companies, the study reveals that punctuality, creativity, dynamic leadership, initiative & drive, dealing
with customers, timekeeping, knowledge of banking rules & regulation and communication skill are
given necessary weight in all the three banks. However, the study also have found a good number of
factors which are taken into account by only a sample bank and the other two totally ignored those
factors. Further, the study also reveals all the three performance appraisal schemes as narrows ones
which could not provide a comprehensive view on all the aspects to be taken care off. In this backdrop,
the study has developed a comprehensive model for performance evaluation based on recent and
relevant literatures and this model has been applied for opinion survey of the executives of the sample
banking companies.

The findings of the study reveals that all executives of the three sample banks have placed high
emphasis on knowledge of banking rules and regulations, writing skill and knowledge about the bank’s
products, services and polices, appearance and dress code, creativity & innovative ideas, attendance
and punctuality, personality, discipline, capacity to taking independent decision, perseverance, ability to
adopt in changing circumstances, attitude / temperament, human quality, dynamic /proactive
leadership, Initiative, Drive and Enthusiasm, Ability to negotiate, Power of Judgment in decision making,
Ability to plan, organize and supervise work, Sense of responsibility of assigned jobs and commitment to
work, Managing capabilities including crisis Management, marketing ability, ability to collect deposits as
per set target, ability to market company’s banking products to existing corporate and retail customers,

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ability to motivate existing customers to pay the dues in time, ability to enhance business of both clients
and the bank, ability to recover the outstanding loans of the classified accounts, customer client
Relationship/ dealing with bank’s client and problem solving ability in customer need satisfaction.

The findings also makes it evident that all executives of the three banks have placed less importance on
knowledge of other functions and intelligence and mental alertness, displaying high level of
professionalism to clients, dealing with colleagues and superior officers, pleasing character, foreseeing
and managing the business risk factors and communication skill, participation in planning, preparedness
to work under pressure, ability to implement decision, skill for setting strategy, quality and quantity of
works, overall contribution to profit of the branch and the company as a whole.
Finally, the study also uncovers that the morale of the employees highly depends on the existence of fair
performance assessment scheme. Apart from this, the working condition, training & development
opportunities, job securities and other HR policies have implication on morale of the executives.

References:
1. Afroz, S. (2012), “On going Corporate Human Resource Management Practice in Banking sector of
Bangladesh”, Global Journal of Management and Business Research, Volume 12, Issue 2, Pp.105-
108.

2. Bhattarcharjee, Durgadas, and Karmaker, Shyam, Shundar (1989) “Performance Evaluation

Measures of Public Sector Enterprises: A Critical Review”, The Dhaka University Studies, Part C,
Vol. X No.2, December.

3. Beach, Dale, S., (1965), “Personnel: The Management People at Work”, New York, Pp. 15-25.

4. Banks CG, Murphy KR (1985), “Toward narrowing the research-practice gap in performance
appraisal”, Pers. Psychol. 38:335-345.

5. Bernardin HJ, Villanova P (1986), “Performance appraisal. In: Locke EA (Ed.), Generalizing from
laboratory to field settings: Lexington, MA: Lexington”, Pp. 43-62.

6. Baron, R.A. (1983) Behavior in organizations, New Yourk: Allyn & Bacon, Inc, p. 123.

7. Dessler, G.(2005), “Human Resource Mnagement”, 10th edition, Pearson Prentice Hall, Inc, USA,
p.310

8. Douglas, John, Stuart, Klein and Hunt, David, (1985), “The Strategic Managing of Human
Resources”, John Willey and Sons, New York, Pp. 40-55.

9. Frey, B. (1997), “On the Relationship between Intrinsic and Extrinsic Work Motivation”,
International Journal of Industrial Organization, 15, Pp. 427 –439.

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10. Harzing, A.W., & Van Ruysseveld, J. (1995), “International Human Resource Management”, Sage
Publication, London

11. Luthans, K.(2000) ‘Recognition: A Powerful, but often Overlooked, Leadership Tool to Improve
Employee Performance’, The Journal of Leadership Studies, Vol.7, N0.1, pp. 32-39.

12. Morley, M. (2004), “International Human Resource Management in Retrospect and Prospect”,
Bradford, UK: Emerald Group Publishing Limited. Available at online:
http://site.ebrary.com/lib/lulea/Doc?id=10069019&ppg=64
13. Molander, C. (1996), “Human Resources at Work, Chartwell-Bratt.

14. Napier NK, Latham GP (1986), “Outcome expectancies of people who conduct performance
appraisals”, Pers. Psychol. 39:827-837.

15. Neckermann, S. and Kosfeld, M. (2008) Working for Nothing? The Effect of Non-Material Awards
on Employee Performance, Goethe-University Frankfurt, Germany.

16. Onakoya, A.B.O, Ofoegbu, D, I and I, O, Fasanya (2010), “ Corporate governance and bank
performance: a pooled study of selected banks in Nigeria”, European Scientific Journal December
edition vol.8, No.28 ISSN: 1857 – 7881 (Print) e - ISSN 1857- 7431 155.

17. Rahim, S.A. (2012), “Performance Appraisal Systems in Private Banks of Bangladesh: A Study on
the Mercantile Bank Limited”, The Business & Management Review, Vol.3 Number-1, P. 385.

18. Talukder, M.B.U & Saha, S.(2007), “A Comparative Study of Performance Appraisal Systems of
Two Private Commercial Banks”, Daffodil International University Journal of Business and
Economics, Vol. 2, No. 1.

19. Thorndike R L (1949), “Personnel selection: Test and measurement techniques”, New York: Wiley.

20. Weihrich, H. (1985), “Management Excellence: Productivity through MBO”, McGraw-Hill Book
Company, P. 125.

Appendix

Questionnaire
Performance Appraisal of Commercial Bank’s Executives: A Study of Selected Private Commercial
Banks in Bangladesh.

Type of Stakeholder: Bank’s Executive / Officer

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General Information
1. Name:
2. Present Designation:
3. Educational / Academic Background:
4. Date of Joining:
5. Professional Qualification:
i) Banking:
ii) Non Banking:
6. Experience as banker:
7. Present Place of Posting with date:
8. Date of Last Promotion:
Part-A
Knowledge and Basic Skill

8. How would you rate the following skills under 5 points Likert’s Scale?

5= Strongly agree, 4= Agree, 3= No Comment, 2= Disagree, 1= Strongly disagree

A) Statements 5 4 3 2 1
i Knowledge of banking rules and regulations
ii Writing Skill
iii Analytical Ability
iv Knowledge about the Bank’s Products,
services and polices.
V Knowledge of other functions
vi Intelligence and mental Alertness

Part-B
Interpersonal Skill/ Individual Behavior

9. How would you rate the following interpersonal skills as a bank executive?

B) Statements 5 4 3 2 1
i Appearance and dress code
ii Creativity & Innovative ideas
iii Teamwork
iv Attendance and Punctuality
v Personality
vi Discipline
vii Honesty and Integrity
viii Capacity to taking independent decision.
Ix Perseverance
x Dealing with colleagues and superior
officers.

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Xi Ability to adopt in changing circumstances.

Xii Attitude / Temperament
xiii Human Quality
xiv Pleasing Character
xv Ethical value and trust worthiness
xvi Foreseeing and managing the business risk
factors.
Xvii Managing Resources
xviii Displaying high level of professionalism to
clients.
xix Communication Skill

Part-C
Organizational Behavior

10. How would you rate the following organizational behavioral aspects as a bank executive?

C) Statements 5 4 3 2 1
i Participation in planning
ii Leadership- Dynamic / proactive
iii Decision making in a group
iv Initiative, Drive and Enthusiasm
v Ability to negotiate
vi Power of Judgment in decision making
vii Preserve of official document and records
maintenance confidentiality.
viii Ability to plan, organize and supervise work.
ix Ability to implement decision
x Preparedness to work under pressure
xi Sense of responsibility of assigned jobs and
commitment to work.
xii Skill for setting strategy

xiii Managing capabilities including crisis

Management.

Part-D
Promotion of Business / Customer Relationship

11. How would you rate the following promotion of business or customer relationship?

D) Statements 5 4 3 2 1
i Customer Client Relationship/ dealing with
bank’s Client
ii Quality and quantity of works

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iii Problem solving ability in customer need

satisfaction
iv Marketing ability
v Ability to collect deposits as per set target.
vi Ability to market company’s banking products to
existing corporate and retail customers.
vii Ability to market products or services
to new corporate and retail customers.
viii Ability to motivate existing customers to pay the
dues in time.
ix Ability to recover the outstanding loans of the
classified accounts.
x Ability to enhance export- import business of
both clients and the bank.
xi Overall contribution to profit of the branch and
the company as a whole.

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