It only makes sense to have the quarterly "5-5-5 Conversations" roll directly into an official annual or semi-annual performance review. Incorporating the "The People Analyzer" and the "Three Strike Rule".
Yes, you are missing the annual review form as well as documentation of the 3 strikes
The 555 is excellent for informal conversations but is weak or does not stand up as a tool for employee annual performance and development. If someone is not displaying core values and seat metrics are not good, what is next? It should role into the 3-strike rule. Employee is not made aware that their seat could be in danger of being eliminated.