A CRITICAL ANALYSIS OF THE USE OF FINANCIAL STATEMENTS IN ASSESSING THE PERFORMANCE OF AN ORGANIZATION (A CASE STUDY OF UNION BANK NIGERIA)
Abstract
Purpose: The purpose of this paper is to find out impact of social networking like Facebook, Twitter, Slideshare, Linkedin, etc at employees performance. Design/methodology/approach: Model presented in this article which shows the function and format of working of key variables. Model showed that social networking affect the productivity, skills, knowledge, productivity and motivational level of employees of banks. Data is collected from different bank’s employees so that the real scenario can be presented. Data collected from The Bank of Punjab Pakistan, National Bank of Pakistan and Habib Bank of Pakistan.
Findings: This study shows that social networking become an integral part of everyone’s life and have a strong impact. Social networking affects working situations of employees of banks too. For exploring key issue literature of different authors was studied and thoroughly discussed. Views of different authors and personalities (which as having high designations in well reputed organizations) presented in this article. Correlation and Regression analysis is done for primary collected data. Practical implications: It showed that using of social networking have strong impact on employee performance. Social networking by employee’s affect their skills/ability, knowledge/qualification, productivity/outcomes and motivation level. Originality: This paper identifies the social networking needs of employees and its usage for better performance. It provides bases for organizations to use social network for their
employee performance in interesting ways rather than boring and typical training programs. Keywords: Social Networks, Facebook, Twitter, Slideshare, LinkedIn, Skills, Productivity, Knowledge and motivational level of Banks employees
- Introduction
“Social networking is creating changes dramatic or dynamic in the environment but it’s obvious it is creating changes.” Social networking an online medium of interaction which let people build relations, share ideas, communicate information and bounding society in sentimental stream. Social networking is making dramatic growth in dynamic environment of now a day. People use social networks for catharsis of their human emotions. Motives of social networking can be different for person to person like; people connect to LinkedIn for professional purpose, Facebook and MySpace for personal motive, Twitter for social networking, Personalized Blogs for personal thoughts and view point. Motive of using social networks can be change but the ultimate logic of connecting is building social contacts and sharing (Ehrlich, S.Z. 2011). ‘How Social Media Affects HR: Uses, Abuses and Self-Protection’ Available: ‘http://fiveoclockclub.com/2011/03/how-social-media-affects-hr-uses-abuses-and-self-protect ion/’ Social networking is not only targeting young generation. It’s tempting and hitting all age groups and generations. The way to use and respond social networks is not a good thing, nor a bad thing, it’s just a different thing. Using and connecting to social networks is part and parcel now a day of everyone’s life. Now people never ask for mail addresses or mobile numbers instead of that people ask each other for their social network IDs for carrying on long term contacts (Avalos, S. 2011), ‘How Social Media Affects HR: Uses, Abuses and Self-Protection’ Available: “http://
fiveoclockclub.com/2011/03/how-social-media-affects-hr-uses-abuses-and-self-protection/” Every organization is using social network sites for their professional benefits like creating customer relationship. So it becomes the need and it’s the time for organizations to design workforce according to changing environments. Organization’s productivity and profits base on its employee’s performance, and its employees are strongly connecting to social networks.
In other aspects Social networks are creating risks, opportunities, threats, weaknesses, and
strengths for organizations. Risk in a way that social networks are real time communication
mediums, It can communicate and disseminate information of organization instantly in real
timing which organization may never want to share with people outside the organization.
Opportunity in the context that competitor’s employee shared information about upcoming
strategy at social medium which can be used for organization’s benefit. Threat can be faced
by organizations when its employees discuss internal information of organization at social
networks which can be used by its competitors. Social networking can be weakness of
organization when it affects its productivity negatively. Same social networking become
strength for organizations when it’s used to build good relationship with employees, to direct
them is right way, to collect information about employee behavior and to train them (Flynn, J.
2011), ‘How Social Media Affects HR: Uses, Abuses and Self-Protection’ Available: ‘‘http:
//fiveoclockclub.com/2011/03/how-social-media-affects-hr-uses-abuses-and-self-protection/’’
Social networking affect banking sector as it affecting employee’s skills, productivity,
qualification/knowledge and motivational level. Banks practice social networking for
building employer-employee relationship by increasing employee’s skills, productivity,
motivational level and knowledge. Banks evaluate their employees and manage their
contributions to keep bank’s image high through social networking. Banks direct their
employees for ethical behavior in using social networks while they are representator of the
organization. For doing all this banks are formulating some sort of policies regarding using of
social networking (Flynn, J. 2011), ‘How Social Media Affects HR: Uses, Abuses and
Self-Protection’ Available: ‘http://fiveoclockclub.com/2011/03/how-social-media-affectshr-uses-abuses-and-self-protection/’
According to the above discussion, it can be said that social networking has strong impact on
employees’ performance in terms affecting skills, productivity, knowledge and motivation.
This study is conducted in Pakistani banks, either at what extent they are using social
networking to increase skills, knowledge, productivity and motivation of their employees.
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