What is the difference between performance review performance appraisal and performance management system?

Performance management is strategic, future oriented growth, flexible process linked to business needs. Moreover is a process of identifying, measuring, managing, and developing the performance of the human resources in a company.

Performance appraisal is the continuous process housed in HR department for evaluating employee performance and often linked to compensation.

Performance Management system enables to examine and monitor the overall performance of individual employees, departments and further include lists of accomplishments, goals and objectives, results from 360 degree feedback process, supervisor ratings and individual development plans.