Performance management is the process of monitoring and measuring employee performance to ensure that they are meeting pre-determined goals and objectives. This process can help identify areas where employees need improvement and identify training or development opportunities. Additionally, regular performance management can help improve communication between managers and employees.

There are a few key steps in the performance management process:

1. Define objectives and expectations – Clarifying what is expected of employees upfront can help them better understand their role in the company and what is required of them.

2. Monitor progress – Tracking employee progress on a regular basis helps to identify any areas where they may be struggling. Additionally, this step can also help highlight any exemplary performers.

3. Provide feedback – Giving employees feedback on their performance, both positive and negative, can help them understand what they are doing well and where they need to improve. Feedback should be given regularly in order to be effective.

4. Take corrective action – If an employee is not meeting expectations, it may be necessary to take corrective action in order to help them improve. This could involve additional training or development, coaching from a manager, or even disciplinary action.

Following these steps can help ensure that employees are performing up to par and meeting the goals and objectives set for them. Regular performance management can also help improve communication and collaboration between managers and employees.