The value of exit interviews is often overlooked by businesses. In the midst of managing the exit process from a business, combined with sourcing new talent, exit interviews can be reduced to formalities such as handing over entry passes and the company laptop.
So how do you make the most of exit interviews?
For the most part, people are leaving companies due to dissatisfaction. Done right, you have a great opportunity to get in-depth feedback as to what is causing the dissatisfaction and some ideas on what to do about it.
A study by Facebook recently found that many employees leave their jobs in search of finding more fulfilling work. Employees need to feel like they are gaining valuable career mentoring and are advancing their career, according to a recent article from HRD Magazine.
Recent research conducted by workplace research firm Reventure, as part of its national a future that works campaign, found that 72% of Australian workers were looking for purpose and meaning in work.
Patrick Ball, writing for Care @ Work suggests using the content from exit interviews to fuel retention efforts within the business: ‘Getting the perspective of departing employees can help you identify areas of improvement within your company culture and develop retention strategies for the future.’
Ball recommends starting the process by asking why an employee is leaving and then gaining an understanding about what the company could have done if it was due to concerns or issues within the company. Some significant questions to ask are:
- What are three things we could do to improve?
- Did you feel comfortable talking to your manager about these issues?
- Were you given the tools to succeed in your job?
- What was your best and worst day on the job?
This information can then be further developed by asking employees to complete online surveys or even lunchtime group chats to explore and understand contributing factors of dissatisfaction. If you are serious about improving the company culture, working groups should be devised that are tasked with finding ways to resolve and/or improve some of these areas.
Should your business require support with structuring or conducting exit interviews, speak to the HR Consulting team at Flexi Personnel.