Blog 09 : Performance Management and Motivation in the Sri Lankan Banking Sector
Introduction The Sri Lankan banking sector has undergone rapid transformation in the past decade, driven by digitalization, competitive globalization, and evolving customer expectations. In this context, performance management and employee motivation have emerged as pivotal elements in ensuring organizational success. Effective performance management systems not only enhance productivity but also cultivate a motivated workforce aligned with strategic goals (Armstrong, 2020). Performance Management Practices in Sri Lankan Banks Performance management in Sri Lankan banks typically integrates both quantitative and qualitative assessment tools. Leading banks such as the Bank of Ceylon , People's Bank and Commercial Bank of Ceylon have adopted Key Performance Indicators (KPIs) and balanced scorecards to measure individual and team achievements (Central Bank of Sri Lanka, 2023). These systems facilitate transparency, accountability, and continuous feedback key aspects that drive employe...