Imnsho, at most companies the process only serves as 1) an atta boy for the high performers, to justify raises & promotions, and 2) CYA documentation to manage

Imnsho, at most companies the process only serves as 1) an atta boy for the high performers, to justify raises & promotions, and 2) CYA documentation to manage out the lowest performers. These extremes cover about 10% of any org, max, and the rest are all completely unserved by the process.