A: In its broadest sense, performance management can be said to be "progress toward achieving predetermined goals" at every level of the organization. If an organization has a performance management system, all HR systems, policies, and procedures are integrated to meet the business' mission, vision, and goals. These systems include setting expectations, ensuring employees are adequately trained, evaluating performance, providing performance feedback and documentation, and administering rewards.
More commonly, this term is used to describe a system to manage individual employee performance via performance targets, appraisals, and consistent ongoing feedback. If you need help with performance management, contact an Employers Council professional.