Wire to board connections; turret terminals
No this is a bad idea. Two problems come to mind immediately. One of the first things I was taught about soldered connections is that you should not rely on the strength of the solder to hold it together, that connection is doing that. In addition soldering the wire creates a stiff area which can result in fatigue failures of the wire depending on the operating environment.

I much prefer to use screw down or lever locked pcb wire connectors like the following. 


Image TE Connectivity

 
Image Phoenix contact

Depending on your needs in a production environment you might want to consider a combination of cable connector and a compatible PCB header.