Performance Management is an official business definition that encompasses the process of managing employee performance and development. Through Performance Management, businesses create a work environment that facilitates the successful completion of desired goals and objectives. By evaluating an employee’s performance against established goals and objectives, Performance Management helps to ensure that expectations are met, and employees are provided with the necessary feedback and guidance to reach their highest potential. Performance Management often consists of four steps: goal setting, performance planning, performance assessment, and performance feedback. During goal setting, businesses identify specific goals that employees should strive to achieve. Performance planning involves creating an action plan for the employee to follow in order to reach their goals. During performance assessment, progress is monitored so that employees can receive feedback and guidance as needed. Finally, effective performance feedback can help employees identify areas for improvement and provide guidance on ways to make progress. Performance Management also allows businesses to measure their success