I think that another performance management objective should be better evaluating employees at the hiring process so that they can be placed in the most appropriate position.
I often witness management trying to motivate an employee to perform better without succeeding because the employee is just ill suited for that position. The employee was not evaluated correctly from the very beginning, during the hiring process. Instead of trying to make employees fit later, we should make sure that we place them correctly. Employees should not only have the right personality, skills and abilities for their position, but they should also be well suited for the culture of the organization.
I think that many performance problems can be avoided if the hiring step is carried out correctly.