The best performance management lies in knowing your employees well: their strengths and areas of opportunities, as well as their aspirations within the company.
Therefore it is important to focus on the following areas:
a. Competencies: helping employees set goals and empower them to meet those goals in ways that utilize their strengths
b. Establish development plans, both personal and professional
c. Appraise performance on a regular basis and challenge employees with continued responsibilities
d. Reward and recognize success and teach employees how to work through temporary failures