Employee perception of perfomance contracting in k-rep bank

Abstract

Once an organization develops its strategy, it is important that the strategy is effectively implemented to achieve the desired results. Strategy implementation is the process of transforming strategic intentions into actions, then actions into acceptable results. Performance contracting is one of the tools that is used in implementing corporate strategy. In order to achieve the desired results through performance contracting, it is important to involve all the employees of the organization in setting the performance contract objectives that are aligned to the corporate strategy. This study laid focus on determining and analyzing employees‘ perception on the use of performance contracts in achieving the strategic objectives in K-Rep Bank The objective of the study was to determine the employees‘ perception of performance contracting in K-Rep bank. The study was conducted through a descriptive survey of all employees‘ who had signed performance contracts in K-Rep bank. A stratified random sampling technique was employed to select the respondents. The study involved 50 employees of the bank where primary data was collected through a structured questionnaire.