Performance Appraisal System of Investment Corporation of Bangladesh

Abstract

Performance appraisal is the most key element of the organization, human resource management, industrial relations, and organizational psychology. Since the establishment of ICB, it has contributed to our share market in a very large amount. Because of its fantastic strategy and policy, it has been very beneficial to small investors who can confidently rely on ICB and make their investment decision correctly. The improvement of an organization depends on different variables. From them, Appraisal is one of the main factors which are taken under the study. Moreover, Performance appraisal evaluates each employee's personality and performance in order to measure productivity in terms of efficiency and effectiveness. The ultimate target for performance appraisal is to compare the employees among them and give rewards to the right employee for his dedication, good performance, and hard work. This study has taken under all these variables for effectively increasing the evaluation of the organization and the overall improvement of the employees The employee’s performance is measured through performance appraisal. Every employee gets feedback about their work and improves their performance. Also, this feedback increases the opportunity for the organization to develop and rises. This study shows the opinion of ICB employees about the appraisal system of their bank and how to improve the performance measure. On the basis of several methods and performance analysis, the methods adopted discussed the employee performance evaluation process used by this Organization. Company needs to implement some new methods to emphasize evaluating employees' performance. It can improve underperforming employees by highlighting particular training requirements and skill gaps that demand attention.