Impact of Performance Management System and Employee Satisfaction towards Employee Retention in a Small Finance Bank
Ayushi Maheshwari, Pune Institute of Business Management (PIBM), Pune (Maharashtra), India.
Manuscript received on November 17., 2019. | Revised Manuscript received on November 24 2019. | Manuscript published on 30 November, 2019. | PP: 12071-12079 | Volume-8 Issue-4, November 2019. | Retrieval Number: C6063098319/2019©BEIESP | DOI: 10.35940/ijrte.C6063.118419
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© The Authors. Blue Eyes Intelligence Engineering and Sciences Publication (BEIESP). This is an open access article under the CC-BY-NC-ND license (http://creativecommons.org/licenses/by-nc-nd/4.0/)
Abstract: This paper provides an explanation on how performance management system affects employee satisfactionand employee retention. The study here is done to explore relationships between them in Banking Industry. The responses taken showed direct and through relation among themselves including common dependence on some human resource management factors. Impact of Performance Management System on organizational behavior has been under investigation but there are some findings which say that Performance Appraisal plays crucial role on employee satisfaction, performance and retention. More the employee satisfaction level the more is the intention of employees to stay in organization. The responses gathered were 40 from different grades like MT(Management Trainee), AT(Apprentice Trainee), A1(Executive), A2(Senior Executive), A3(Assistant Manager), B1(Deputy Manager), B2(Manager), C1(Senior Manager), C2(Assistant Vice President), C3(Deputy Vice President), D1(Vice President), D2(Senior Vice President 1), D3(Senior Vice President 3), E1(Executive Vice President), E2(President), G(Group Head) and F(Executive President). It was found that R value of Employee Retention is 57.7% and the most contributing factor is Employee Satisfaction than Performance Management System.
Keywords: Performance Management System, Employee Satisfaction, Employee Retention, Small Finance Bank, Employee Engagement.
Scope of the Article: Industrial, Financial and Scientific Applications of All Kind.