Enhancing Performance Management Strategies for Account Managers in Microfinance Institutions

Abstract

This study explores the current performance management practices of account managers, focusing on strategies, challenges, and opportunities for improvement. Using descriptive quantitative research design, the study employed a structured survey instrument to assess goal setting, feedback mechanisms, training, workload, rewards, engagement, leadership support, and appraisal systems. Data was gathered from account managers to identify gaps in performance practices and inform a strategic development plan. Key findings reveal that while performance goals and feedback systems are in place, alignment with employee roles and consistency in delivery require strengthening. Training programs are available but would benefit from being tailored to specific skill needs. Resource allocation, particularly in rewards and recognition, is generally effective but still perceived as uneven by some. Employee engagement in goal setting and decision-making was moderately high, with leadership development emerging as a critical factor for sustained performance improvement. Based on these findings, a strategic plan was formulated to enhance transparency, fairness, and adaptability in managing account manager performance. This study contributes to United Nations Sustainable Development Goal 8: Decent Work and Economic Growth by promoting improved human resource systems that support employee well-being, skill development, and organizational productivity. Future researchers are encouraged to expand this study by employing mixed-methods approaches for deeper qualitative insights and by exploring comparative analyses across different microfinance institutions, including urban and international contexts. Longitudinal studies could also help assess the long-term impact of performance management reforms on employee retention, client satisfaction, and institutional resilience.