You have been told to return to your alma mater and speak to present students regarding performance management issues. To make the most of this experience for yourself and the students, write down a 3 to 5 page paper which details the given: the concept of 'performance management'; the most prominent kinds of performance management plans; its impact on the employee and the organization; the relationship between performance management and compensation; and factors which must be considered when successfully implementing performance management in an organization.