They're not the norm.
In a form group that I have for 5 years, I'd expect only 3/4 students to be on report over that time, though some of them may be on and off over the period.
In terms of whether they work, a lot depends what it goes hand in hand with.
For example,
A is a child with a lot of SEMH needs. They struggle with adult relationships and can be quick to fly off the handle. Behaviour report can allow the tutor to track where the issues are and the tutor can put in place mentoring, some coaching, arrange restorative discussions with relevant colleagues. The report still tracks the behaviour and holds them accountable but it's in a more holistic supportive framework.
B is a student who is a middle of the road nice child on their own, but can be disruptive and cocky. They're routinely talking over staff and seem to think they're hard and cool because they have mastered the higher than "low level disruption" (hate that term) but never quite go far enough to warrant major behaviour interventions. Reports tend not to work for this child because they're a nice child hit determined to be seen as cool and the big I am. They treat it as a badge of honour so the behaviour report will only really work in line with consistent sanctions and escalation as appropriate.
Overall, if my child was on behaviour report (assuming no established SEMH issues), I'd be really unimpressed as it means their behaviour is persistently rude and/or disruptive and they think rules don't apply to them.