Recognition
Give recognition from the Recognition page. Tie the note to a company value from Cycles → Company values. Recognition stays on the site; it is not a public social feed outside SharePoint.
Development plans
Development holds individual development plans (IDPs) linked to the person and, when used, to the cycle. Owners, due dates, and progress stay on the IDP row.
PIP
Performance improvement plans use item-level permissions so only the people who should see the plan can open it. Create a PIP from Development. This is not compensation planning.