Browsing by Author "Genet Bogale"

Now showing 1 - 1 of 1
  • No Thumbnail Available
    Item
    Assessment of Performance Management Practices and Challenges: The Case of Cooperative Bank of Oromia in Addis Ababa Head Office
    (Addis Ababa University, 2024-10) Genet Bogale; Zegeye Muliye (PhD)
    This study explores the intricacies of performance management practices and the challenges organizations face in effectively implementing these systems. Performance management is a critical process that aligns individual and organizational goals, enhances employee engagement, and drives overall productivity. However, despite its significance, many organizations struggle with various challenges, including inadequate communication, lack of clear objectives, and resistance to change. Related to the above fact, the purpose of this study is to assess and elucidate the performance management practices and challenges at the Cooperative Bank of Oromia head office organ. The study aims to address the fundamental questions of what are the current practices during implementation of performance management system in CBO, the major challenges that affecting the performance management system in CBO, perceptions of employees towards the bank performance management system, processes of conducting performance management system and the alignment of performance management system with strategic goal of the bank. The study design of the descriptive survey has used quantitative research methodologies to tackle these concerns. Questionnaire was used as the main data collection instrument for this study, and 193 employees answered it using a straightforward random sampling method. The data gathered from the questionnaire was compiled using SPSS software. The descriptive statistical method was used to examine the data from surveys and contextual analysis was used to the data from document analysis. The results of the analysis were presented in tables and figures. The scope of the study was limited to head office organs within Addis Ababa. Overall, the study’s conclusions demonstrated that practices and challenges of performance management system. However, the primary problems found included a dearth of frequent feedback, doubts about the raters’ rating accuracy, and a lack of PMS automation software. In light of this, the researcher concluded that even though CBO possesses some strong qualities, such as the ability to clearly define the purpose, vision, and values and to create strategy maps, more work needs to be done before the performance management system can be more advantageous for the business. Increasing employee participation in the PMS process, increasing employee awareness of the PMS’s purpose, setting mutually agreeable goals, gathering data about an employee’s performance from multiple sources, offering regular feedback, and setting realistic, non-delusional goals are just a few of the recommendations made in an effort to close the identified gap. Finally, it was recommended that the evaluation be carried out at the proper time and that the evaluation standards be made absolutely objective. Key Words: Performance measurement, CBO, Challenges