Exit surveys are a terrific way to learn firsthand from those who have chosen to work elsewhere just exactly what the organization could have done better that may have increased the chances of retaining the employee.

Although identifying an issue after the fact won’t prevent the loss of the person being interviewed, the process should provide critical information that will enable the employer to take steps necessary to minimize future loss of key employees.
Bottom line, if the issues continue to go unchecked the result will, no doubt, be the continuing loss of valuable human capital. An employee exit interview is the tool that can stop this from happening.

Top Five Benefits to Employee Exit Interviews:

1. Identify what employees value most in the workplace.
2. Identify what the organization is doing well, and not so well.
3. Identify specific management issues that may not be revealed during a person’s time of employment.
4. Identify training resources and professional development needs of your employees.
5. Identify competitive advantages and disadvantages within your market.

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 all of the same mistakes over and over again, and experience the same high turnover rates – assuming the market is full of unethical, undisciplined and unappreciative workers.

Nothing could be further from the truth. 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.

Source: www.leadership-tools.com

The Business Institute can provide this service for your company and your employees. Contact us to learn more.