The yearly performance evaluation is a joke. Any company which respects its employees as humans and which takes seriously its responsibility to its shareholder

The yearly performance evaluation is a joke. Any company which respects its employees as humans and which takes seriously its responsibility to its shareholders will promote the ongoing evaluation of employees based on close 1-on-1 relationships between manager and direct report. And the quality of the performance evaluation at any company that does this is only as good as the quality of those managers. If all your managers are people who are out to make themselves look good, or out to keep their own jobs safe, no system could possibly get the most out of your employees. If your managers are motivated to care about the company and to make its goals their own, and if you provide the proper training and evaluation of their management to ensure they know how to manage the right way, you have a chance.