EFFECT OF PERFORMANCE APPRAISAL ON EMPLOYEE RETENTION IN NIGERIA: A CASE STUDY OF FIRST BANK OF NIGERIA LIMITED
The study investigated the effect of performance appraisal on employee retention: a case study of First Bank Nigeria Ltd. Both primary and secondary sources of data were used for data collection. Data were analyzed using frequency tables and simple percentages. Spearman rank correlation coefficient was adopted to test the formulated hypotheses. The study found that there is positive significant relationship between training and career development performance appraisal and employee retention; and there is also positive and significant relationship between objective/fair performance appraisal and employee retention. The study, therefore, concluded that performance appraisal has positive effect on employee retention. It was recommended, among others, that banking firms should integrate job training and career development into their organizational practices.