Providing Ready-To-Use Leadership Tools. Sign-up for Free Tools
By conducting employee exit interviews with employees leaving your team or organization, you can learn a great deal about how team members perceive leadership within the company.
Understanding why employees decide to exit the business is critical for retaining and stabilizing your workforce.
Download Free: Employee Exit Survey
Taking steps to learn what is important to your employees is a key activity for any organization that is committed to attracting and retaining top talent in your marketplace.
Every business owner must ensure that the most highly qualified people in the organization are recognized, feel appreciated, and have a healthy and well balanced work experience. Otherwise, the risk of losing valued members of your team goes up significantly.
Ask any business owner what the most costly expense is and they will undoubtedly respond that their salary expense, coupled with the cost of training and educated their workforce, ranks as the primary financial expense.
As a result, leaders who seek to minimize cost and maximize production of the workforce must fully understand the reasons behind employee departures, especially when a key contributor exits the organization.
"People don't typically quit companies, they quit supervisors. So, you must understand the motivation behind every employee departure."
Don't make the mistake of assuming you know why a team member is leaving. Often an employee won't tell their supervisor the real reason why they're leaving, because many times the reason for leaving IS the supervisor. In fact, lack of respect for their direct supervisor is the number one reason why people quit their jobs.
Of course, there are many other reasons why people change jobs, and as the leader - you need to know all of them!
By making use of employee exit interviews (which are typically conducted by an HR representative or other third party) you'll find out more about how you can change employee perceptions for the better, and ensure you can attract and retain the best talent available.
- Stephen R. Covey
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.
An exit survey is 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.
Top Five Benefits to Employee Exit Interviews:
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. Employee feedback is critical to improve employee retention ratios.
Bottom line, if the issues continue to go unchecked the result is a continued loss of valuable human capital. Employee exit interviews provide a simple and cost effective activity that can limit employee departures and secure your most valuable team players.
To download our free survey tool for conducting employee exit interviews, simply subscribe to our free newsletter. You will immediately receive a password that grants access to our entire leadership tools library.
Your privacy is important to us. We never share or sell email addresses.