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Abstract
This study is titled, Employee Evaluation and Corporate Performance in some selected manufacturing firms in Port Harcourt, Rivers state. In course of carrying out the work, the primary and secondary source of data methods were adopted. The primary source has to do with structured and unstructured questionnaires, personal interviews, and observations; while the secondary data were sourced from text books, journals, interviews, internet materials, corporate magazines etc. The target population of the study includes staff of the five studied commercial banks of which a sample size of ninety two (92) respondents were drawn from using the Yaro Yemen formula ttabltd, = 1.1750 and tcaltd = 1.198, T-test and Pearson correlation statistical method were adopted in the course of determining if Employee performance evaluations has a significant positive relationship on corporate performance. In our findings, it was revealed that there is a relationship between employees rating and corporate performance in the banking firms within Port Harcourt in selected manufacturing firms. It was also revealed that there is a relationship between employees ranking and corporate performance in the selected manufacturing firms in port Harcourt. Therefore it is recommended that, the manufacturing Companies (sector) should periodically evaluate the performance of their employees in order to maintain high productivity and effectiveness of the corporate organization.
Table of Contents
Title Page i
Declaration iii
Certification iv
Dedication v
Acknowledgement vi
Abstract vii
Table of Contents viii
List of Tables x
List of Figure xi
CHAPTER 1 1
INTRODUCTION 1
1.1Background of the Study 1
1.2 Statement of the Problem 3
1.3 Objectives of the Study 4
1.4 Research Questions 4
1.5 Statement of Hypotheses 4
1.6 Significance of the study 5
1.7 Scope/Limitations of the Study. 5
1.8 Definition of terms. 6
CHAPTER 2 8
LITERATURE REVIEW 8
2.2 Conceptual Frame Work 8
2.1.1 Performance Evaluation of Employees. 8
2.1.2 Dimensions of Employee Performances Evaluation. 10
2.1.3 Corporate Performance 12
2.1.4 Measures of Corporate Performance 13
2.1Theoretical Framework 15
2.2.1The Goal Theory 15
2.3 Empirical Framework 16
CHAPTER 3 19
RESEARCH METHODOLOGY 19
3.1 Research Design 19
3.2 Population of the Study 19
3.3 Sample and Sampling Technique 20
3.4 Data Collection Technique 21
3.5 Sources of Data 21
3.6 Data Analysis 21
3.7 Reliability and Validity 22
CHAPTER 4 24
DATA PRESENTATION AND ANALYSIS 24
4.1 Data Presentation 24
4.2 Analysis of Data 25
4.3. Testing of Hypothesis 27
4.3.1 Responses from the Questionnaires 28
4.4 Discussion of Findings 31
CHAPTER 5 33
SUMMARY, CONCLUSIONS AND RECOMMENDATIONS 33
5.1 Summary 33
5.2Conclusions 33
5.3 Recommendations 34
References 35
Appendix I 37
Appendix II 38
CHAPTER 1
INTRODUCTION
1.1Background of the Study
Corporate Organizations as in general needs to obtain an ongoing assessment process of working towards achieving its set of goals and thus targets can’t be achieved only and unless it has a lessons from previous experience learnt ,or previous gaps of planning procedures that was not accomplished its missions particularly in employees performance . They are considered as the working force and key tools to complete the overall hospital works at any internal unit. Banks in general are considered to be as the main elements of driven hidden force of economic power itself, as it seeks to achieve certain goals along with other primary objective Jabeen, M. (2011). It’s difficult to judge performance as on how it’s running without having many certain governor bodies of certain standards which able us to evaluate them according to common procedures. We make our judgments on the ambit of validity and integrity of these continue application to follow up these progress, whether it can be (Score) by a particular standard or through some one or a person representing these certain standard. Employee performance evaluations allow the manager to meet with his or her employees to go over actions and behaviors of the previous year and map out future goals and expectations concerning the employee’s performance. By opening up the lines of communication, you are creating a situation where there should be no surprises in regard to expectations further down the line. This is also a good time to go over established job requirements and update if necessary. Performance appraisal is done to assess an employee’s job performance and productivity on certain pre-established criteria and objectives. A performance evaluation (PE) or performance evaluation is a systematic and periodic process that assesses an individual employee’s job performance and productivity, in relation to certain pre-established criteria and organizational objectives, Solomon & Solomon, (2004).
A performance evaluation (PE) or performance evaluation is a systematic and periodic process that assesses an individual employee’s job performance and productivity in relation to certain pre-established criteria and organizational objectives. Performance evaluation is a measurement process of how well an individual is doing her or his job. In most organizations, this appraisal is an annual event. Generally, it is done to encourage job performance, to flag areas that need attention, to inform both parties as to expectations. Much of the literature speaks to this process in terms of the performance evaluation of the employee. However, the leader’s performance is as important to the success of an organization as the employee’s Brumbach, G. (2003). This study provides comments on actual use of a survey on corporate performance. In so doing, the research highlights how a process, performance evaluation, can be responsible for undesirable consequences when results and actions taken are not necessarily aligned. However, the study is seen to be more important in improving the level of performance of the employees in the organization. Form the forgoing therefore, the study is seeks to examine the relationship between employee performance evaluation and corporate performance in some selected manufacturing firms in Port Harcourt.
1.2 Statement of the Problem
This brings us to those problems that are associated with conducting performance appraisals. The process usually starts at the middle management level where it is the job of a middle manager to appraise his subordinates or employees who are under him. In fact every successive hierarchical level, the superiors are asked to evaluate the employees who are working under them. This can give rise to many issues that make performance appraisals an unpleasant task. As a result many managers view the process of appraisal as time consuming and burdensome. To begin with performance appraisals can cause friction, resentment and the consequent low morale. Since appraisals are rather subjective in nature, they can also be disputed in case of negative ones. The performance appraisal systems tend to have several problems. Raters‟ evaluations are often subjectively biased by their cognitive and motivational states (Ali, d. (2008).), and supervisors often apply different standards with different employees which results in inconsistent, unreliable, and invalid evaluations (Folger 2002). In order to create better systems, researchers have traditionally focused on validity and reliability (Bretz 2002) by designing newer “forms” of performance evaluation (e.g., behavioural-based systems that better define specific essential job functions of employees or 360-degree feedback mechanisms that allow for cross-validation via multiple raters). However, despite these recent advances in evaluation design, critics continue to argue that performance appraisal systems are not consistently effective (Atkins & Wood, 2002; DeNisi& Kluger, 2000).
1.3 Objectives of the Study
The main purpose of this study is to examine the relationship between social employee performance evaluation and corporate performance. The specific objectives were stated as;
- To examine the relationship between ranking and corporate performance in selected manufacturing firms in Port Harcourt.
- To examine the relationship between rating and corporate performance in selected manufacturing firms in Port Harcourt.
- To examine the relationship between job control and corporate performance of selected manufacturing firms in Port Harcourt.
- To examine the relationship between employee performance evaluation and corporate performance of selected manufacturing firms in Port Harcourt.
1.4 Research Questions
The following research questions were stated and used in guiding the research process, these include the following;
- To what extent does ranking associate with corporate performance in selected manufacturing firms in Port Harcourt?
- To what extent does rating associate with corporate performance in selected manufacturing firms in Port Harcourt?
- To what extent does job control associate with corporate performance of selected manufacturing firms in Port Harcourt?
- To what extent does employee performance evaluation associate with corporate performance of selected manufacturing firms in Port Harcourt?
1.5 Statement of Hypotheses
The following hypotheses are stated to guide this study;
HO: There is no significant relationship between employee performance evaluation and corporate performance in the selected manufacturing firms.
HA: There is a significant relationship between employee performance evaluation and corporate performance in the selected manufacturing firms.
1.6 Significance of the study
This research study would be of great importance to all and sundry who are aspiring to creative entrepreneurs in establishing business firms. The social structure of postindustrial society including the selected manufacturing firms under study may create the potential for human growth as well as economic growth (Faunce, 2008). In coming years, both government agencies and nonprofit organizations will adapt themselves to be more businesslike; they will change their modes of operation by taking innovative and aggressive action, but still adhere to their goals regarding social proposes.
More so, government and other corporate organizations will also see social entrepreneurship as a medium for establishing small enterprises for innovative, creative, and productive purposes. This in turn, is realized from the returns on organizational assets and sales as a measure of organizational performance.
1.7 Scope/Limitations of the Study.
Content scope: This study or concept under study is concerned with evaluating the performance of employees as related to corporate performance in the manufacturing sector. More so, it is noted that ranking, rating and productivity and other factors are significant measures for evaluating employee performances which play a great role in decision making by the bank management on their employees. This is seen also as a strategic measure for overall corporate performance.
Geographical scope: This research study is carried out specifically among selected manufacturing firms within Port Harcourt (Rivers state) to explicitly explore the relationship between employee performance evaluation and corporate performance, as well as other variables affecting the effective performance of corporate firms (selected manufacturing firms) through performance evaluation systems in the manufacturing sector.
Unit of Analysis: For an optimum result to be achieved from the findings, it would be necessary to utilize the chi-square test statistic to determine the relationship between the variables under study of corporate performance in banks.
The conduct of this research study has been so far affected by various limitations which hampered the process of the research to a great extent. Although the research was prepared carefully, but the period of time is not sufficient for the researcher to observe large respondents from the different branches of selected manufacturing firms within Port Harcourt in Rivers state. The research study is further been limited to studying only selected manufacturing firms within Port Harcourt, not in Nigeria entirely. It would be best if it was done in a longer period of time on large geographical area and with fewer burdens of other subject’s projects and protocols (policies).
1.8 Definition of terms.
CORPORATE PERFORMANCE
Corporate Performance is a defined as the regularly appears in both academic and practical discussions.
EFFECTIVENESS
Effectiveness is defined as the organizations goals and objectives in today’s market and also is dependent on the industry.
EFFICIENCY
It is the ability to avoid wasting materials, energy, efforts, money, and time in doing something or in producing a desired result.
PERFORMANCE MANAGEMENT
Performance Management is a systematic process of the workload planning and expectations setting, of the continuous performance monitoring, development of the performing capacity, periodically performance evaluation and high performance recommendation.
PROFITABILITY
Profitability is the state of yielding financial profit or gain. It is often measured by price to earnings ratio.
RANKING METHOD
Ranking method is one of the simplest performance evaluation methods. In this method, employees are ranked from best to worst in a group.
PERFORMANCE
The act of presenting a play, concern, or other of form of entertainment.