Effects Of Performance Contracting On Employees’ Performance In Commercial Banks: A Case Of Family Bank Western Region Branches, Kenya

EFFECTS OF PERFORMANCE CONTRACTING ON EMPLOYEES’ PERFORMANCE IN COMMERCIAL BANKS: A CASE OF FAMILY BANK WESTERN REGION BRANCHES, KENYA

NGUGI MARY WANJIKU

MBA SCHOLAR, MOUNT KENYA UNIVERSITY

Dr. KADIAN WANYAMA WANYONYI

LECTURER, KIBABI UNIVERSITY, KENYA

FELIX SIALO

DIRECTOR, MOUNT KENYA UNIVERSITY KAKAMEGA CAMPUS, KENYA

MR.OSCAR SANGORO

LECTURER, MOUNT KENYA UNIVERSITY, KENYA

@IJRDO-Journal of Business Management   Volume-2 | Issue-10 | October,2016 | Paper-8

Abstract

The objective of performance contracting is the control and enhancement of employees’ performance and thus the performance of the whole institution. Performance contracting is a freely negotiated performance agreement between the employers and employees. It is the latest strategy used in the banking sector to enhance employee’s performance. The purpose of the study was to assess influence of performance contracting effect on employees’ performance in Family Bank. The study employed a descriptive research design. The study targeted 301 employees from 15 branches of Family Bank in Western region, from which a sample size of 45 respondents was obtained. Stratified random sampling and simple random sampling were used. The research instruments used included both closed-ended questionnaire and focus group discussion besides the interview schedules. Results revealed positive and significant associations between setting of performance targets, monitoring and evaluation, performance contracting process and implementation of performance contracting on employee performance in Family Bank branches in Western region of Kenya.

Key words; Performance Contracting, Employee Performance, Performance Evaluation

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