When an employee continuously or consistently demonstrates poor performance, makes mistakes, or displays a behavior that is unacceptable, and all previous encouragement and other activities have not brought about improvement, it is time to set up a WIP.
The program almost always requires a conversion to probationary status. So HR must be in the loop. If the problem cannot be repaired, the probation will lead to transfer or termination and a return to normal status.
We want to save the worker not get rid of him or her. So we set up a program that will bring them along and up to an acceptable level of performance. People want to do a good job. Sometimes things change and a worker can't make the adjustment without some help. This is help. You want to talk about a loyal outstanding worker, that is exactly what you get once you have "saved" them instead of dumping them.