Exit Interviews

Taking steps to learn what is important to your employees is a key activity for any organization that is committed to maintaining a stable and effective workforce.

Every business owner must ensure that the most highly qualified people in the organization feel appreciated and have a quality work experience on a daily basis.  Otherwise, the risk of losing a valued employee increases dramatically.

Ask any astute business person what the most costly expense is, and they will undoubtedly respond that their salary expense, coupled with the cost of training and educating their workforce, ranks as the primary business expense.

Why then, are Exit Interviews important?

The top five benefits are: 

Historically, employee exit interviews are not conducted on a consistent basis because employers make the common mistake of believing departing employees won’t provide valuable information.

Employers tend to focus squarely on getting the position filled as soon as possible, versus taking the time to determine how the vacancy could have been avoided.

As a result, they spend more time and money making the same mistakes over and over again, and experience the same high turnover rates. 

Most people want to do a good job for their boss and the organization.  But in order to become fully engaged, an employee expects to be rewarded and recognized in proportion to his or her individual efforts.

Employee exit interviews are a highly effective way for business owners and managers to attract and retain the best of the best.  They provide an opportunity to 'make peace' with disgruntled employees, who might otherwise leave with vengeful intentions.  Key points to remember when determining your company's need for structured, well managed exit interviews:

The exit interview, therefore, provides an excellent source of comment and opportunity relating to management succession planning.  Good people often leave because they are denied opportunity to grow and advance.  Wherever this is happening, organizations need to know about it and respond accordingly.

Let ITM help you devise your exit interview strategies so that you can start using the valuable information an exiting employee can provide.