Performance and Productivity Management In Banking Sector

  Organizational rewards means all the benefits i.e. financial and non-financial that an employee receives through their employment relationship with an organization . According to the literature there wards distinguishes into three main types that individuals seek from their organization i.e. extrinsic, intrinsic and social rewards. Extrinsic rewards are the physical benefits provided by the organization such as pay, bonus, fringe benefits and career development opportunities.   However, the performance of employee job satisfaction is an imperative motivator and an arrangement of psychological and environment circumstances .Motivation programs are the key component of incentives, rewards and recognition as different organizations. Employee performance. Employees are completely motivated when they achieved their needs. According to this   analysis concluded that the degree of rewards, motivation and job satisfaction of employees has a strong relationship in the banking sector , i

  Role of HR   Training and Development   HR need to be able to quickly recognize employees’ talent and potential so that they can provide adequate training to help workers develop their skills. The company can define their exact needs and train employees in specific methods. Then employees who have opportunities to use their skills and abilities see this as a key element in their engagement with the company.   Employee Performance Company analyze employee performance and be able to provide feedback and guidance to the employee (Goals and objectives) Employees have good conditions to perform well, be creative, and work towards achieving the company’s objectives They need to create and implement an ongoing evaluation framework and be able to interpret performance trends correctly.  Company has to manage promotions and the distribution of bonuses, in coordination with team. Company culture Company culture is the set of attitudes, values, and goals that are sha

  Effects of Performance on employee productivity Competent appraisal of individual performance in an institute serves to improve the overall effectiveness of the entity. The three main functional areas of performance appraisal systems are administrative, informative, and promotions to employees and salary increases and other rewards. The motivational role entails creating a learning experience that motivates employees to improve their performance. Employees can gain a better understanding of their faults and strengths and can adjust behavior accordingly. In addition, appraisals create a constructive forum for providing feedback to workers about individual behavior.   Reference Bonnie G. Mani , Ph.D. First Published June 1, 2002 Research Article https://doi.org/10.1177/009102600203100202 International Journal of Social Sciences and Entrepreneurship Vol.1, Issue 11, 2014

01.    Introduction   Banking Sector in Sri Lanka The banking sector in Sri Lanka, which comprises Licensed Commercial Banks (LCBs) and Licenced Specialised banks (LSBs), dominates the financial system and accounts for the highest share of the total assets in the financial system. Banks play a critical role within the Sri Lankan financial system, as they are engaged in provision of liquidity to the entire economy, while transforming the risk characteristics of assets. Banks also engaged in providing payment services, thereby facilitating all entities to carry out their financial transactions. On the other hand, banks can create vulnerabilities of systemic nature, partly due to a mismatch in maturity of assets and liabilities and their interconnectedness. Therefore, the soundness of banks is important, as it contributes towards maintaining confidence in the financial system, and any failure may have the potential to impact on activities of all other financial and non-finan