[davidvanleeuwen]

In our situation, which is a relatively small company, it's used to keep people energized, focused and well... happy. Without it, we had regular team meetings where people talked about frustrations they had (and it exploded at times).

I don't think having it around as way to fire someone is the right approach.

[humanrebar]

I'm a huge fan of more informal one-on-one meetings. To the point where I will consider a move if I'm not getting enough time with my management. I don't consider those "performance reviews" though.