What does ""PIP"" signify in human resources?

In human resources, ""PIP"" stands for Performance Improvement Plan. To answer the questions and rephrase them into a paragraph, let's start with a summary sentence. A Performance Improvement Plan (PIP) is a tool used by HR to help employees improve their performance. It outlines specific areas where an employee's performance is lacking and provides a structured approach to help them meet the required standards. The plan typically includes clear objectives, resources for improvement, and a timeline for achieving the desired performance levels. In essence, a PIP serves as a formal agreement between the employer and the employee, aimed at addressing performance issues and fostering professional growth.