Performance management is a strategic HR process aimed at ensuring that employees' work aligns with organizational goals, standards, and expectations. It involves planning, monitoring, developing, and evaluating employee performance to maximize productivity and overall effectiveness.

Example
In a corporate setting, performance management may include setting specific, measurable, and time-bound goals for employees, regularly reviewing their progress, providing feedback and coaching, conducting performance appraisals, and offering training or development opportunities to enhance their skills and contributions to the company.