> and hardly ever works.
Technically, there are two desirable outcomes to a PIP:
1) the employee improves and no longer needs to be on a PIP (rare)
2) the company successfully fires the employee and doesn't get sued because they covered their ass with a PIP
From HR's perspective (and the manager's), it is indeed the reluctant last resort, but it's essentially a win/win for the company. Either the employee improves, or they can fire them while minimizing legal risk.
In other words, it fulfills its intent quite nicely. It just doesn't always end positively for the employee. So I guess in that sense, it depends on which way you look at it.