Completely agree. If you find yourself on a PIP, start looking for a new job elsewhere ASAP. Speaking as a manager who has seen this play out several times at different companies, a performance improvement plan should always be seen as invitation to leave. It always surprises me how few people get that. The company is essentially saying, "We're just not that into you."
If the company is large enough, they'll almost always be willing to pay you something (4-6 weeks salary is fairly standard) to go away quietly. Your best bet is to negotiate some kind of exit package while simultaneously looking for new employment. If you're good at it you can dovetail them so that your employment record is seamless. Your employer may even be willing to give you time off to interview. (Remember, they want you to leave.)
The chances of making a comeback after being put on a PIP are slim. It's a HR formality that's essentially a prelude to termination, to protect the company from potential litigation. I don't have hard numbers, but I'd estimate that 75%+ of employees placed on a PIP will either leave or be terminated within 3 months.
Lastly, a PIP doesn't mean you're a bad person. In fact, it may not even be a reflection of your performance. Sometimes personality and budget issues play a large role. American companies don't have many options when cutting staff, and they often default to this one when they don't want "layoff" headlines. I'm not defending it (it's a sucky practice), but see it for what it is, try not to take it personally, and get the hell out before things get really bad.
If the company is large enough, they'll almost always be willing to pay you something (4-6 weeks salary is fairly standard) to go away quietly. Your best bet is to negotiate some kind of exit package while simultaneously looking for new employment. If you're good at it you can dovetail them so that your employment record is seamless. Your employer may even be willing to give you time off to interview. (Remember, they want you to leave.)
The chances of making a comeback after being put on a PIP are slim. It's a HR formality that's essentially a prelude to termination, to protect the company from potential litigation. I don't have hard numbers, but I'd estimate that 75%+ of employees placed on a PIP will either leave or be terminated within 3 months.
Lastly, a PIP doesn't mean you're a bad person. In fact, it may not even be a reflection of your performance. Sometimes personality and budget issues play a large role. American companies don't have many options when cutting staff, and they often default to this one when they don't want "layoff" headlines. I'm not defending it (it's a sucky practice), but see it for what it is, try not to take it personally, and get the hell out before things get really bad.