That's viable in theory but not in praxis. Unconscious decision making bias will creep into everything that you do. That's hard to filter, especially for all those non-binary decisions in between "firing or not" (e.g. promotions, assigning of responsibilities, approval of proposals, etc.).

The bias will be there, it will negatively affect the activities of that employee, and, more importantly, it will negatively affect everybody else in the company. Human beings are extremely sensitive to group dynamics and will (subconsciously) either align with the bonding strategy of the "successful" employee or hate him (or you). Both outcomes are bad for the company.

PS: A lot of these biases are in place all the time anyhow as some amount of emotional attachment always occurs. You just need to watch it fairly carefully.