When you think about traditional performance reviews, it was based on an employer-employee relationship that has radically changed. Years ago, most employees would wait anxiously for their annual meeting with their manager to find out how they were doing and if they mattered. This was the official validation that employees wanted and craved.
Up until that point, you were never really sure how those above you viewed your performance. It was a dynamic that created a dependent, subordinate relationship that clearly put the organization in control of your destiny. Back in those days, you felt emotionally connected to your organization for long-term employment, security and stability.