As a manager, I use it as an opportunity to review objectives (the objectives themselves, not the employee so much - i.e. are they still relevant, achievable, e

As a manager, I use it as an opportunity to review objectives (the objectives themselves, not the employee so much - i.e. are they still relevant, achievable, etc - or should they be changed), and let my staff speak candidly with me about whatever they want. Sometimes this is strictly work related things like discussing improvements or them chasing updates on initiatives that they don't think have enough focus/visibility, etc. Other times it can be just watercooler talk or other rapport maintenance. I maintain a tracker for topics we discuss so I don't forget them, and can check in on them in the next 121(s). Also lets me keep notes and schedule time for actions I need to take to support, escalate, prioritise, etc. Often I'll ask pointed questions to really indicate the level of candidacy I'm prepared to let them go to - e.g., how's my management? What's your mood on those Sunday evenings when you realise tomorrow is monday? etc. As an employee, I use it as an opportunity to discuss (demand) a reshape of my own objectives in response to emerging/evolving work, discuss what I want in form of support, and candidly discuss things I've heard on the grapevine but am not prepared to discuss with a wider audience. I also use it as a place to ask the possibly "dumb" questions and observations that I don't know if I want my peers hearing just yet. I'm also senior enough that I have confidential projects and knowledge I am prohibited from sharing so this is my one place to blab safely.