Are you talking about stack ranking for performance? If yes, they will compare people at same level across team/org/company based on what work they did and determine the rank of each person in that group.
It's often more about popularity and how strong/political your manager is than about performance.
Case in point: Cap1 is no more prestigious than it used to be and we have ex C1 who are FAANG after being shown the door
https://letmegooglethat.com/?q=stack+ranking+performance+reviews
What’s this ain’t it chief, Alex?
They take a stick and they stick it up your butt and twist it until you code faster
Does target follow stack ranking?
My sweet summer child
They rank everyone's sack
You good at Jenga?
Ever seen the videos where they get 10 girls together and rank them from hottest to ugliest with 10 being hottest and 1 being Shrek? That’s stack ranking
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Ignorance is bliss, my friend