Employee Evaluation - when Common Sense and Human Touch go AWOL

Numerical rankings were already an idea from hell. Trying to achieve precision - am I number 6 or number 7 on the Goldman Sachs list? - is impossible. Anyone convinced of the opposite please contact me - but provide clear examples, not MBA speak that some cloned professor has published in some obscure magazine no one ever reads.
Is the new scheme - a web-based tool to give and receive performance feedback at any time - going to be a change for the better?
I have (serious) doubts. In an organisation where the motto at the top management level is 'Greed is Good' and the only personnel management tool seems to be the doctrine to weed out the 'weakest' 5 percent of the workforce in any given year the human touch and common sense approach is long gone from the organisation.
Does one have to wonder that performance and return for shareholders have been mediocre since the old partnership was killed off (by those keen to cash out at the expense of those following in their footsteps)?