The goal of skip level meetings is to help the senior leader be a better manager of themselves, of the report of their function, and the rest of the management team. While 1-1s facilitate communication between a team member and their manager, skip levels should facilitate communication between a team member and their manager's manager.
These meetings between a senior leader in the company and their "skips" serve to promote communication across the leader's whole team, not just their direct reports. It also gives the skips and senior leaders an opportunity to get to know each other, provide an opportunity to have contributions recognized by a senior leader, ask questions, and/or clarify their understanding of company or functional objectives.
It's important to note that the following are not purposes for the skip level meetings: