An accurate and actionable evaluation of performance is one of the purposes of performance reviews. feedback has value for both recipients and senders People become high performers when they identify areas where they need to improve and then practice those skills with feedback.
There is a lot of unhappiness with performance appraisals. They are seen as time consuming, demotivating, and biased. Over half of employees think their managers don't get the performance review right and most CEOs don't think the appraisal process helps to identify top performers. Only one in five employees agree that their company's performance practices motivate them.