This is a brilliant element for software team managers. While I was working for Realtime Worlds, we used to do these with my manager David Lofthouse. These meetings provide a lot of friendliness and comfort between the manager and managees.
Every week (or every other week) at the same time, 15 min-ish. Most of the time, there was not much to talk about, except the occasional "recently I have been having isolated tasks, I would like to work more together with people" and David would assign me tasks accordingly where possible. Read about 1:1 meetings from Michael Lopp: