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38 The Process of Performance Management > Performance management defi ned - Pg. 618

618 Performance Management Introduction Performance management is an important HRM process that provides the basis for improving and developing performance and is part of the reward system in its most general sense. This chapter starts by defining performance management and discussing its objectives, characteris- tics and underpinning theories. It continues with a description of the performance manage- ment cycle and its three constituents: performance agreement, managing performance continuously, and reviewing and assessing performance. Finally, the chapter deals with man- aging under-performers, introducing performance management and the role of line managers. Performance management defined Performance management is a systematic process for improving organizational performance by developing the performance of individuals and teams. It is a means of getting better results by understanding and managing performance within an agreed framework of planned goals, standards and competency requirements. As Weiss and Hartle (1997) commented, perform- ance management is: `A process for establishing a shared understanding about what is to be