Years ago my review was late so I mentioned it to my boss. He said, "I'll get to it... but you should know you won't hear anything new. You've already heard everything I will say, good or bad. If anything on your review comes as a surprise to you I haven't done my job."
He was right. The best feedback isn't scheduled. The best feedback happens on the spot when it makes the most impact, either as praise and encouragement or as training and suggestions for improvement.
Waiting for a scheduled review is the lazy way out.
Your job is to coach and mentor and develop--every day.
Source: Inc.
