Purpose: This study aims to develop a framework for applying performance management principles to implementing a pluralistic model of scholarly impact in business schools to increase the value and relevance scholarly research to multiple stakeholder groups. Design/methodology/approach: Performance management principles were studied with case study data of scholarly impact that included bibliographic measures and altmetrics. An analytical model was built for a focal business school that provided benchmarks for managing scholarly impact by using data from three peer schools. Findings: Bibliographic, scholarly output measures and altmetrics were consistent across the focal school and peer schools, thereby providing a solid foundation for establishing performance benchmarks for annual performance reviews, promotion and tenure decisions and organizational impact goals. Practical implications: This paper provides guidance for designing, building and implementing performance management systems to foster scholarly impact. Originality/value: This paper integrates pluralistic impact models and performance management systems to build faculty expertise and align it with multiple impact domains.