What is a (PIP) Performance Improvement plan?

(PIP) Performance Improvement plan: A PIP, or Performance Improvement Plan, is a structured and formalized process used by employers to help employees who are struggling to meet performance expectations. The primary purpose of a PIP is to provide employees with a clear path to improve their performance and meet the required standards. PIPs are typically implemented when an employee's performance falls below the desired level, and they are at risk of facing further disciplinary actions or termination.