Abstract:
This study was aimed at assessing the performance appraisal system
of Provident Life Assurance Company Limited (PLAC). It therefore looked at
the reasons for performance appraisals in the Company. In addition the study
examined employees’ level of understanding of the performance appraisal
system of the company and whether appraisal reports are used for their
intended purposes. The last objective of the study was to measure the
frequency of appraisals in a year within the company.
Fifty-one (51) respondents made up of forty (43) appraisees and eight
(8) appraisers were used as the sample unit for the study.
Simple random sampling was used in selecting the respondents from the staff
of Takoradi branch of PLAC. The lottery method was used for the selection.
Findings from the study revealed that training, salary increases,
managing employees and rewarding hard work were identified as the four
most important reasons for performance appraisals in the company. It was
also observed that, both appraisers and appraisees understand the performance
appraisal system of the company. Findings also indicated that, appraisal
reports are used for their intended purposes. It was also observed that,
performance appraisal exercises are conducted two times in a year.
It is therefore recommended that, the human resource department
should organize periodic training on performance appraisal for all staffs to
reinforce the understanding of employees.
Additionally, employees should be allowed to undertake self-review of
their performance before appraisal meetings. Again, management of PLAC
should strongly link promotion with performance.
