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It's actually not.
The intent of a PIP is positive, you iron out kinks and blind spots that one may have, document and track milestones.
Unfortunately some mid HR leaders and dim founders stumbled upon an easy tool to avoid layoffs / paying notice period severance. Thence the bad rap to a tool that's built for something else.

@TallTales69 What you meant in the first para is idealistic. What you said in the second para is the realistic. The phrase and concept PIP(performance improvement plan) has lost all its meaning and intent.

It is becoming a tool for soft layoffs day by day especially if you don't have a good relationship with your manager.

Most employees on PIP ends up getting laid off

The fact that you need to be put in a Performance Improvement Plan implies that your current performance is not up to the mark and needs improvement. Now, instead of viewing this as a part of ups and downs an employee faces in their career, it is made into an excuse used by management to get away with a lot of shady tactics. That is when it turns into a career death sentence.

PIP is not followed as it used to be, now people are given enormous amount of deliverables to be met and purposefully emforce PIP plan to fire employee. Generally happens with rebel employees under manager. That is why people bootlick management to escape extra work

Not before covid. Now it is.

I was on PIP but survived