Professional sports teams do not wait until the end of the season to find out how they're doing. They review after every match, sometimes after every session, so the feedback loop stays small enough to act on.
Most businesses run the opposite system. A once-a-year review asks someone to remember and judge fairly across twelve months of work, which cannot be done accurately, and everyone involved knows it. By the time feedback arrives, the moment to change anything has passed.
Gallup's research shows exactly how much this costs: teams are 90% more likely to be engaged when they have regular performance conversations, rather than the standard annual or twice-yearly cycle. Frequency isn't a nice-to-have on top of good management. It's most of what makes management good.