When I worked for a company, we did a mid-year review and a final review each year. The mid-year was done with your boss to make sure you were on track to meet standards for the year. In essence, so there would be no surprises as your final review.
It was the final review where what you accomplished was compared to the goals set by myself and my boss at the beginning of the year. Was everything accomplished? Did you go above and beyond what was expected? Did you not meet standards in an area? If so, there were systems put in place to help you meet standards the following year.
Because a review at mid-year was completed, the one at year-end wasn’t supposed to have surprises. It often did. When I stopped working for a company, I was grateful to never have to go through this process again. And I am certain my boss was just as glad to never have to give me another review.