Impact of Performance Appraisal on Employee Retention:-A study on Banking Sector

INTRODUCTION Saba Gulzar 1 Avinash Advani 2 Dr. Tariq Jalees 3 85 Jan-June 2017 JISR-MSSE Number 15 Volume 1 1. Lecturer, Institute of Business Management Karachi. 2. Independent Researcher Karachi, [email protected] 3. Professor, PAF Karachi Institute of Economics and Technology. Banking industry in Pakistan besides other challenges is also facing the problem of job retention. In view of this high turn-over has been observed and employees’ productivity is declining which is also affecting their performance efficiency. Inability of retaining trained employees is affecting banks adversely. Hiring and training new employees is a burden on Bank’s resources their focus has shifted for developing and implementing policies for improving their retention rate. In this context organization in general and banks in particular are paying more attention to aspects such as performance appraisal, empowerment, reward system, feedback, career development, motivation and empathy. In the context of improving employees performance organizations are paying more attention to performance appraisal. In recent years researchers focus on the on the performance appraisal of employees and its impact on their job satisfaction and motivation has increased significantly. However, most of the recent studies Saeed, Lodhi, Naeem, Rehman, Mahmood and Ahmed (2013) exploring the OK