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A sensible performance review process is focused on what is needed and works. A newly-qualified person might well benefit from having (say) a monthly meeting with their manager to look at what's gone well and what perhaps has been less successful, use it as an opportunity to seek advice and help. An experienced person can probably be left alone and have (say) a quarterly meeting to touch base and make sure the management knows they're doing a good job. Unfortunately in my experience simply leaving people alone can lead to situations where a person is struggling but is afraid to ask for help until it's too late - and equally where someone is doing really well but management doesn't know, doesn't appear to value them, and is then surprised when they up sticks and walk. I agree with the point about corporate blah, though.