| dc.description.abstract | Performance management is seen as an approach to managing people and performance in order to achieve organizational goals. Performance management is meant to establish a high performance culture in which employees in the organization take responsibility for improvement of business processes and for their own skills and contribution within a framework of effective leadership. Performance management requires the co-ordination of multiple key practices. The more practices that are in place, the more effective the performance management system.
The objective of this study was to establish the performance management practices of the stock broking firms in Kenya. The study focused on the practices that are at the core of performance management. These are goal setting, employee development, training managers to carry out performance appraisal, performance appraisal, performance feedback and finally performance reward and recognition.
The study established that the stock broking firms carry out the performance management practices to a great extent.
Best practices among the stock broking firms were also identified. Most of the stock broking firms hold their line managers accountable for performance management. The findings of the study also reveal that management of the stock broking firms need to understand the importance of the performance management practices.
In order to have effective performance management systems, the managers of stock broking firms will need to pay more attention to training of managers to carry out performance appraisal and performance reward and recognition. These are the performance management practices that the firms focused on the least. | en_US |
