I've also watched the manager README trend go wrong at multiple companies.
The problem is that managers write their READMEs according to how they want to be viewed by others, so they tend to be more aspirational than realistic.
These might actually be useful if the employees could write the README for their manager and the manager could never read the document or otherwise retaliate for what the employees write about their manager. That's the only way you'd get an accurate document, but obviously it's not realistic.
I think it's better to simply write these documents as a "How to guide for team members" outlining the expectations for performance, communication, how and when their performance reviews will happen, and so on.
Better to remove the manager's ego from the equation as much as possible rather than making it the unspoken centerpiece of the document.
The problem is that managers write their READMEs according to how they want to be viewed by others, so they tend to be more aspirational than realistic.
These might actually be useful if the employees could write the README for their manager and the manager could never read the document or otherwise retaliate for what the employees write about their manager. That's the only way you'd get an accurate document, but obviously it's not realistic.
I think it's better to simply write these documents as a "How to guide for team members" outlining the expectations for performance, communication, how and when their performance reviews will happen, and so on.
Better to remove the manager's ego from the equation as much as possible rather than making it the unspoken centerpiece of the document.