Perceived Appraisal Effectiveness in Greek Public and Private Financial Institutions
Zervea, Aliki
The present study investigates employees’ perceptions over the appraisal effectiveness of Greek public and private financial institutions. Subjects of the study are one public and two private institutions, considered as major players in their sector. The three institutions’ performance appraisal methods are identified, presented and compared. A structured questionnaire has been conducted, distributed equally to a total sample of 240 employees of every organization and analyzed. From the total number of 135 valid questionnaires, 36,3% were returned from the public institution, 31,1% from the first private institution and 32,6% from the second one. Means and correlation coefficients analyses are conducted. Findings indicate that one of the two private organizations has applied the most effective performance appraisal method, according to its employees’ perceptions. One step further, the study explores characteristics of the appraisal method of every organization and relates them to its employees’ attitudes towards it. Strengths and weaknesses of every institution are used as a base of comparison in order for the two sectors to learn from each other. Findings can be a useful tool for financial institutions who are interested in reconsidering or improving their performance appraisal procedures.
