Exit Interviews

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HR Services [HR When U Need It] [Exit Interviews] [Legal Consultation]

The value of exit interviews

An employee who voluntarily resigns and leaves for another job -- possibly with a competitor -- will cost the company a minimum of 1.5 times annual salary and benefits to replace. The lost opportunity costs are even greater for a company when experienced employees walk out the door.

By conducting Exit Interviews of departing employees and assessing the information collected, companies have a work place problem identification tool to use. Exit Interviews can identify:

  • weakness in the selection and hiring process,
  • training and development opportunities,
  • improvements needed in compensation or benefits.

Used properly, Exit Interview data can serve as a powerful human resources diagnostic instrument for an organization.

Another outcome of the Exit Interview process is the organization gains insight into problems or issues at an earlier stage of development. By integrating the exit interview analysis along with other information into the strategic planning process, the organization places its focus on continuously improving the operations and work environment not on the departing employees.

When Exit Interviews are outsourced to a third party, departing employees will often be more open and candid in their comments. A third party can conduct the interviews a few days after the employees have left the company. Thereby, employees may be more forthcoming in their comments because the interviews were not conducted inside the organization on the employees’ last day.

Research supports the outsourcing of Exit Interviews. Studies show evidence that Exit Interview information is subject to distortion, particularly when conducted by the organization at time of separation. Some reasons that researchers identified were that departing employees:

  • may fear retribution or negative information reaching the new employer,
  • may perceive the interview as too personal,
  • may believe that company may extract retribution on remaining employees,
  • do not want to discuss uncomfortable material.

Let a professional handle your next Exit Interview and see the difference it makes. Please contact O'Neal Consulting right away.

 

 

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