INFLUENCE OF PERFORMANCE MANAGEMENT PRACTICES ON EMPLOYEE PERFORMANCE AMONG SELECTED MONEY TRANSFER COMPANIES IN NAIROBI COUNTY
Abstract
Performance management practice is being witnessed in every organization in response to changes in global competitiveness and advancement in technology. As a result, employee performance has been attributed to workplace conditions that appear to cause employees to underperform individual workplaces or the profession altogether, as opposed to focusing on factors associated with employees who transfer or quit. It is against this reason that this research was undertaken to investigate the influence of performance management system on employee performance among money transfer companies in Kenya. The study was guided by one general objective and two specific objectives: To establish how performance appraisal and reward system influence employee performance among money transfer companies in Kenya. The study adopted descriptive research designs with employees of money transfer companies in Kenya staff being the target population. Purposive sampling was used to select a sample size of 30% of the target population of 63employees. Self-administered questionnaires were used as data collection instruments. The questionnaires were pre-tested for reliability and validity. Qualitative and quantitative data was analyzed by the help of Statistical Package for Social Scientist’s Software (SPSS). Data was analyzed using descriptive statistics. The findings of this study showed that employee performance is influenced by employee appraisal and reward Systems. The human resource management should formulate and implement an active reward policy linked to the overall money transfer companies strategy, money transfer companies should establish an active training and development policy formulated for their employees.
Keywords: Performance Appraisal, Reward System, Employee Performance
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DOI: http://dx.doi.org/10.61426/sjbcm.v5i3.863
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