No it does not.
Frankly in most areas the rankings have very little to do with ones accomplishments and skills. For GSRs a bunch of LL6 get together and tell tall tales about the achievements of their team, then they vote on each other’s GSRs. Before the meeting the LL6 make deals with each other to vote for each other’s GSRs, and to speak for each other’s GSRs (more tall tales). The LL5s pull LL6s aside and verbally tell them who they want to get high marks (one year I asked the LL5 if he could email me the ranking list he wanted so I could be sure to vote like he wanted, he never did email that list).
Since the voting is in the open, rat finks tell the LL5s about and LL6 who voted on merit instead of voting for the LL5 pets.
People will get their feelings hurt and claim - oh no the process is obviously merit based, because I always deserved the high marks I got. But in 19 years as an LL6, there were only two years when an LL5 didn’t try to influence the rankings. There were only three years where the “PDC” committee voted on merits.