The document discusses the evolution of performance management systems in organizations. It describes how systems have moved from being rank-focused to being more development-focused, with activities like goal setting, continuous feedback, and employee development programs. It outlines some of the key phases performance management has gone through, from annual confidential reports to becoming more participative, target-based, and emphasizing performance planning and improvement. Examples are given of companies like Google, Accenture, and Cargill that have adopted more modern, continuous feedback-based approaches rather than annual reviews. The conclusion states that future performance management will include more feedback and development to help employees improve.