I gave up on the effectiveness of yearly performance reviews more than 20 years ago when I got a bad review for spending 20% of my time on internal company supp

I gave up on the effectiveness of yearly performance reviews more than 20 years ago when I got a bad review for spending 20% of my time on internal company support instead of 10%. I had been sending my boss weekly reports all year and the week before my review he added up the time and decided my priorities were wrong. That review cost me more than 4K in bonuses and raises. Protesting to the VP made no difference. When I resigned two days later the SVP got involved, gave me almost 10K in bonuses and raises and promoted me to a lead role on another team to keep me. I've seen nothing but problems ever since; morale issues caused by disappointing raises and bonuses, problem employees left to fester until the review, a week or more of lost productivity as everybody fills in massive 360 surveys and then argues over them for. Weekly 1-1 meetings with regular review checkpoints make far more sense.