CORPORATE PERFORMANCE AND STAFF APPRAISAL
CORPORATE PERFORMANCE AND STAFF APPRAISAL
BACKGROUND OF THE study
Every employee, from high management to field personnel, must have individual goals that support organisational aims. Setting and expressing objectives for employees, as well as monitoring results, is vital and may be accomplished with the support of a strong assessment system.
A system like this will give managers the resources they need to properly match the goals of their team and their direct report with the company's strategic initiatives. It will aid in measuring each employee's performance and providing helpful and constructive criticism during the appraisal process (Dulewiz, 1989).
The appraisal system began as a simple form of income justification, i.e. appraisal was used to determine whether or not an individual employee's salary or compensation was justified. The approach was inextricably linked to tangible outcomes.
If an employee's performance was determined to be less than optimal, his or her compensation would be reduced. If, on the other hand, performance exceeded the supervisor's expectations, an increase was in order. The appraisal's developmental potential was given little thought.
It was believed that a wage cut or rise should be the only drive for an employee to either improve or continue to perform well. This simple approach occasionally produced the desired outcomes, but more often than not, it did not (Fedor et al, 1989).
Pay rates were essential, but they were not the only factor influencing employee evaluation. Other factors, such as morale and self-esteem, were discovered to have a significant impact (Daven, 1990).
As a result, the conventional emphasis on reward outcomes has been gradually abandoned. Appraisal's potential utility as a tool for motivation and development was increasingly recognised (Fedor et al, 1989).Appraisal appears to be both inevitable and ubiquitous.
People will tend to appraise the work performance of others, including subordinates, intuitively, informally, and arbitrarily in the absence of a thoroughly defined system of appraisal. The human tendency to judge can lead to major motivational, ethical, and legal issues in the workplace.
There is no hope of guaranteeing that the judgement rendered is legitimate, objective, fair, defensible, and accurate without a systematic appraisal procedure.
A well-structured staff appraisal system can boost employee enthusiasm and productivity. As a result, this will have a good impact on corporate performance. Appraisal is one method of reinforcing a legitimate focus on employee performance, but the extent to which it is used in government departments, parastatals, and agencies is unknown.
As a result, the purpose of this study is to discover how staff appraisal is implemented and its impact on corporate performance in Akwa Ibom State Water Company Limited.
STATEMENT OF THE PROBLEM
The evaluation of employee performance is crucial to the attainment of business goals and objectives in every organisation. When employees are routinely evaluated, areas of inadequacy in terms of motivation, additional training and development, redeployment, transfers, promotions, and so on are identified, and appropriate actions are made to implement corrective measures.
It should be highlighted, however, that the amount to which staff appraisal can be used to boost productivity is based on a variety of circumstances. Work instrument, work atmosphere, performance standard, objectivity and commitment, experience, orientation, and predisposition of the appraiser are all considerations.
The extent to which the aforementioned factors emerge in Akwa Ibom State Water Company Ltd, Uyo in relation to the organization's current appraisal system, and the extent to which this appraisal method affects corporate performance, is unknown. This study aims to find solutions to these and similar questions.
OBJECTIVES OF THE STUDY
The study's overarching goal is to evaluate personnel appraisal in relation to corporate performance at Akwa Ibom State Water Company Ltd. Other sub-goals include:
1. Investigate the nature of Akwa Ibom State Water Company Ltd's personnel appraisal system.
2. Determine the suitability or otherwise of the organization's assessment system.
3. Determine the relationship between the appraiser's experience and objectivity and the appraisal result.
4. Investigate the impact of employee evaluation on business performance in Akwa Ibom State Company Ltd.
5. Identify the issues with the staff appraisal system and investigate other methods of improving staff performance in the organisation.
The following research questions were posed for the purposes of this study.
1. What is the nature of Akwa Ibom State Water Company Ltd's personnel appraisal system and approaches?
2. How appropriate, if any, is the organization's appraisal system?
3. Is there a substantial relationship between the appraiser's experience and objectivity and the outcome of the appraisal in the organisation?
4. Is there a link between a well-structured appraisal system and Akwa Ibom State Water Company's corporate performance?
5. What are the company's issues with employee evaluation?
For the purposes of this investigation, the following hypotheses were developed:
1. There is no substantial association between a well-structured appraisal system and corporate performance in Akwa Ibom State Water Company Ltd, indicating that it is not suited for the organisation.
2. In Akwa Ibom State Water Company Ltd, there is no substantial relationship between a well-structured appraisal system and corporate performance.
3. There is no significant association between the appraiser's experience and objectivity and the outcome of the appraisal in Akwa Ibom State Water Company Ltd.
SCOPE OF STUDY
This study only looks at Akwa Ibom State Water Company Ltd's staff appraisal and corporate performance. As a result, the study's conclusions and suggestions are confined to or concentrated on the corporation (Akwa Ibom State Water corporation Ltd).
limitations OF THE STUDY
We have the following restrictions as a result of this research project:
1. Respondents' inability to complete and return questionnaires on time.
2. A scarcity of appropriate research and reference materials
3. Inadequate financial resources to broaden the scope of the research to include more than one company.
SIGNIFICANCE OF THE STUDY
This research will make a substantial contribution to the following goals:
1. It will serve as a resource for future research in this field.
2. It will increase the reading public's comprehension of the significance of staff appraisal.
3. The study will serve as a reference point for the development of staff appraisal policies.
4. It will highlight the dangers of a weak employee evaluation system.
ASSUMPTIONS OF THE STUDY
The following assumptions were made in the study:
1. That responders will work together to complete questionnaires on time.
2. The possibility of prejudice will be nil.
3. The sample will accurately represent the population.
4. Approximately 80% of the questionnaire will be completed and returned in usable condition.
A Brief History of Akwa Ibom Water Company Limited
Akwa Ibom Water Company Ltd was formed as a private limited liability company in August 2001 under the Companies and Allied Matters Act. Prior to its incorporation, the establishment was a state parastatal known as Akwa Ibom State Water Corporation under Akwa Ibom Edict No.9 issued on May 1, 1988.
The formation was the outcome of a series of constitutional changes sponsored by the African Development Bank (ADB) assisted water delivery project, with the goal of increasing the company's revenue earning capacity.
The corporation is in charge of controlling and managing all water works in the state, as well as establishing, controlling, managing, extending, and developing all water projects to suit the needs of the general public, including agriculture, trade, sanitation, and industry.
The mission statement of the corporation is “to provide potable water to urban and semi-urban communities in Akwa Ibom State in an efficient manner with the goal of achieving continuous self-sufficiency for the benefit of stakeholders.”
The company's main line of business is the production and distribution of potable water to the State's urban and semi-urban communities, and it has fourteen (14) offices in Abak, Eket, Etinan, Ikot Abasi, Abiakpo, Ibiakpan, Itu, Oron, Ikono, Uyo, Utu Etim Ekpo, Ikot Ekpene, Ukanafun, and Utit Uruan.
The company is organised into four departments: the Managing Director Bureau, the department of Water Engineering, the Technical Department, and the Department of Management Services. Every department head reports to the General Manager, who reports to the Managing Director.
ORGANIZATION OF THE STUDY
This study is divided into five (5) distinct yet interconnected chapters. The first chapter presents the topic and describes the situation that needs the research in detail. It discusses the study's aims, hypotheses, significance, research questions, scope, constraints, and assumptions.
The second chapter was devoted to the literature that is related to and important to the subject. The third chapter discusses research methodology, including concerns such as research design, the dependability of the research instrument utilised, data collection methods, population description sampling, and data analysis procedures.
The fourth chapter dealt with data presentation, analysis, and interpretation, as well as hypothesis testing. Finally, chapter five covered the study's summary, conclusion, and recommendations.
Terms used in the study are defined.
1. Human resources: This term refers to all types of people in a company, including skilled and unskilled workers, supervisors, and managers.
2. Training: A planned organisational effort or activity aimed at assisting a person in acquiring particular and immediate useable skills, information, and attributes that will allow him to be more efficient on his current job.
3. Development: This is a planned activity that focuses on growing and expanding individuals' capacity so that they can effectively handle higher positions in the organisation.
4. Organisation: A group of individuals who are formally organised in such a way that they rely on one another to obtain or achieve set goals.