Performance satisfactory, but no positions for promotions. What would be your answer for performance management?

Promotion to new positions is ONE way only (among many) to reward good performance.   

• Career advancement may happen through promotions and/or through other means.  
• Reward for good performance can be through financial (and non-financial) means
• Financial reward for good performance can be done through several mechanisms, systems and under different names/justifications
• Non-financial rewards are numerous and sometime at no cost or very low cost.

Be innovative and be creative when dealing with this subject !