BALANCE SCORECARD: KEY PERFORMANCE INDICATORS AS A PERFOMANCE MEASUREMENT TOOL. A CASE STUDY OF ZENITH BANK PLC
In every business enterprise, the need for effective management of
organizational policies and procedures is very important and can never be over-emphasized. To achieve this goal, there is need to adequately measure the input / performance of employees and to what extent it aligns to the overall aim of the organization. This work is designed to expose and equip managers with the necessary tools needed to effectively measure their employee performance on the job. In generating the data needed to achieve the objectives of this study, cross sectional survey was used. Questionnaires were also used as a major instrument for primary data collection. To broaden the researcher’s depth of knowledge in the study area, the researcher embarked on review of the very minimal related literature with data drawn from secondary sources. Data generated in the study was presented on frequency tables and analyzed using simple percentage while the hypothesis was tested with chi-square. It was discovered from the research that most organizations could not measure the performance of their employee because of poor performance measurement tools, and in some cases, none at all. From the findings, it is clear that the existence of policies and procedures is one thing, while the measurement of compliance to these policies is another. There is therefore the need for effective management of the performance measurement tools of the organization in order for the organization to execute its aims and objectives.