톱니현상 및 톱니효과에 관한 실증연구: 상대평가와 순환근무의 역할

The empirical study analyzes branch office-level target and actual performance data of a commercial bank in Korea to find whether target ratcheting and the ratchet effect exist, and more importantly how relative performance evaluation and branch office rotation system of the bank affect them. The analysis shows there exists target ratcheting, but the degree of ratcheting appears to be calibrated downward with temporary high performance due to a favorable business environment and, also with relatively high performing branch office. On the ratchet effect, it is found that even the branch offices performing above target or better than other branches in the first half period still do well in the second half, which implies no reduction of their effort. These results suggest relative performance evaluation and branch office rotation effectively control adverse effect due to target ratcheting. The recent revision of performance evaluation system which was supposed to fit with newly adopted strategy for internet-oriented banking environments appears to strengthen target ratcheting and the ratchet effect. This implies a possible misalignment between business environment, strategy and performance evaluation system.