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Performance Appraisal system represents a major tool for most of the organizations to evaluate various aspects of their employees. Despite the prominence of the organizational phenomenon, very limited research is done in Nigerian organization in this area .To analyses the perception of employees regarding the performance appraisal system implementation, the Deposit Money Banks in Port Harcourt, Rivers state are selected due to the reported high rate of staff turnover. In order to analyze the perception of employees regarding the new system and its implementation, 33 item questionnaires consist of 4 independent and one dependent variables was distributed among 150 employees who were acquainted with the Performance appraisal procedure. The study employed four measures of performance appraisal which are Procedural justice, Goal setting, feedback and Pay for performance and one criterion variable, the employee perception towards these performance appraisal process. The instrument used was a 5 point Likert scale questionnaire. Factor analysis and regression analysis was done through the Statistical Package for Social Sciences version 25.The result shows the process was implemented as per organization guidelines to the overall satisfaction of employees. There are however some areas of improvement which have been noted in the conclusion. The results and outcome are in line with international

EMPLOYEE PERCEPTION AND PERFORMANCE APPRAISAL: AN EVALUATION OF SELECTED DEPOSIT MONEY BANKS IN PORT HARCOURT