Have you ever found yourself in that uncomfortable position where a key leader or team member just isn’t measuring up?
You’ve had the conversations, provided informal feedback, nothing changed, and now you’re considering that dreaded next step: the Performance Improvement Plan (PIP).
PIPs can sometimes turn things around, but they often signal the beginning of the end for that working relationship.
In fact, studies show that approximately 70% of employees placed on PIPs eventually leave the organization, either voluntarily or involuntarily.
We’re here to help you with a template for your PIP and guidance for the 70% that don’t turn things around.
Download Your Performance Improvement Plan (PIP) Template Here
The Wake-Up Call
You’ve noticed the signs:
- Deadlines consistently missed
- Team morale takes a nose dive
- Quality drops below standards with customer complaints increasing
Sound familiar? It’s time to put the person responsible on a Performance Improvement Plan.
The Hidden Costs of Leadership Gaps
What happens when your CMO, COO, VP of Sales, or another team member exits after an unsuccessful PIP?
When a key executive departs, the ripple effects can be immediate and severe:
- Your time gets consumed putting out fires instead of driving growth
- Critical initiatives stall without clear ownership
- Revenue targets slip as people get pulled in different directions to cover
The average executive search takes 3-6 months, that’s 3-6 months of lost momentum and growth that scaling companies simply cannot afford.
Your PIP Toolkit
To help you navigate this challenging leadership situation, we’ve created a comprehensive resource for you called the Performance Improvement Plan Template The Malloy Way™.
Download the template to get:
- Clear templates for structuring effective PIPs with specific timelines and measurable goals
- Communication strategies for difficult conversations
- Evaluation benchmarks to objectively assess progress
Download Your Performance Improvement Plan (PIP) Template Here
But What If the PIP Doesn’t Work Out?
This is where planning ahead makes all the difference. When a leadership transition becomes inevitable, you have three options:
- Distribute responsibilities among your team (and watch them burn out)
- Take on the role yourself (goodbye work-life balance)
- Bring in a fractional executive to maintain momentum while you search for the perfect full-time hire
Our network of 750+ vetted fractional executives can step in within days, not weeks or months, to ensure business continuity while you invest 3-6 months to find your next full-time leader.
You might even realize you don’t need a full-time replacement when you get 100% of the results for a fraction of the cost of a full-time executive.
Ready to Protect Your Business From Leadership Disruption?
Follow these 3 steps:
- Download the PIP framework to give struggling leaders their best chance at success
- Book a free 30-minute Scalability Audit to discuss your contingency plan if the PIP doesn’t work out
- Sleep better knowing you have a leadership continuity strategy in place
Malloy Industries provides fractional executive leadership to B2B companies scaling from $5M to $100M in annual revenue.
Our network of 750+ vetted executives can join you within days to maintain momentum during leadership transitions.
Keep building your Dream Team,
Mike
Book a free 30-minute Scalability Audit
P.S. Whenever you’re ready, here’s how we can help:
- On-Demand HR Director if you’re overwhelmed by implementing PIPs, personnel decisions, compliance risks, or manually processing payroll.
- Fractional Operations Executive if you’re spending too much time IN the business and not enough time ON the business.
- Create a Business Hero’s Map™ for you with a customized SWOT analysis to clarify your options and focus your priorities.
From my journey transitioning from consulting to entrepreneurship and adjunct professorship, I emphasize the critical role of fractional executives in scaling businesses through effective workforce planning, clear communication, and balancing strategy with execution for sustainable growth.