I say yes to that, with some stipulations and structure, of course.  

The majority of employees hate the annual performance review process and meeting. The employee is typically just sitting through the meeting and not really listening to their manager, waiting only to hear if they are getting a pay increase and how much it is going be. Most managers dread the process too, but for some reason, companies continue to do them. A lot of people still firmly believe in the benefits of an annual review and some companies just continue to do them because that is what has always been done. That isn’t the way that it has to be.

Since people frequently use sports analogies in the workplace, lets think of this in terms of a football team. Could you imagine what would happen if a football coach only provided performance feedback to his players once a year? Think about that for a second. The coach is on the sidelines constantly providing immediate feedback to his players by way of praising for correctly executed plays and providing corrective feedback at the moment something didn’t go as it should. The feedback is specific, immediate and effective.

Eliminating old-school annual performance reviews and creating a culture of ongoing feedback and positive reinforcement can have a huge impact on workers productivity and morale.  Plus, it will open the lines of communication with employees and their managers and put managers in the role of coaching for success rather than judging and backward thinking.