PERFORMANCE MANAGEMENT is the process where managers provide feedback to the employees regarding their past and present job performance proficiency, as well as a basis for improving performance in the future.

Title VII of the American Recovery and Reinvestment Act (2009) states that top executives in companies receiving government support can retract bonuses, retention awards, or incentives paid to the top five senior executive officers or the next 20 most highly compensated employees based on corporate information that is later found to be inaccurate.

Nonfinancial rewards include everything in a work environment that enhances a worker’s sense of self-respect and esteem by others.

Employee demotions usually involve a cut in pay, status, privilege, or opportunity.

A bargaining impasse occurs when parties are unable to move further toward settlement.