But, your quality efforts will suffer by their efforts. These never helped anybody do a good job. Let people put up their own slogans. What we tell employees is that we don't respect them as craftsman. It should be embarrassing to both sides.
Performance ratings build fear, and leave people bitter, despondent and beaten.
They also encourage mobility of management. Managers hate the process probably more than workers do. After all, they must administer this nonsense. They know how out of date objectives get in days let alone a full year. But, they have a contract with the employee - make your goals rather they're pertinent or not.