An Exit interview is a final meeting between an employer and a departing employee. By conducting one, the employer is better able to learn what the reasons for the departure are, and to gain valuable information that can be helpful to improve or protect the company in the future. As for the employee, it acts as a platform to share his problems, if any. It also provides a chance for the employer to retain their valuable employee who would otherwise have left; it acts as a final net. This process is useful for the employee as it one to one discussion and several good employee who are on the verge of leaving the company and haven’t got the opportunity to grow and develop, find themselves with their problems solved. An exit interview is a tool that assesses:-
What drives an individual to leave an organization
The aspects the employee valued
What the individual thinks need to improve in order to increase employee engagement, performance, and loyalty
In addition, exit interviews are also a good opportunity for obtaining feedback on employment issues such as vacation time and pay, health benefits, pensions and fringe benefits. The interview can also provide valuable insight about skills and abilities required to perform the job that the employee is vacating. Exit interviews can also be used to find out if an employee is moving to another employer which can enable organizations to amend their HR strategy to target, attract and retain top talent.
Employers use the information gained from exit interviews to save money by assessing what should be improved, changed, or remain intact at both organization-wide and departmental levels. An organization can use the results from exit interviews to reduce costly turnover and increase staff productivity and employee engagement. A leaving process allows the employer and employee to properly close the relationship so that:- organization materials are collected administrative processes are fulfilled knowledge transfer and handover takes place feedback and insights are gathered through exit interviews other loose ends are tied
Exit interviews allow employers to provide employees with all the information and legal stuff they need about termination of the employment relationship. They also provide employers and employees an opportunity to pinpoint specific areas causing employee dissatisfaction and turnover, and to openly share information that will bring the employment relationship to a positive close. The information obtained during an Exit interview is often the most candid and valuable information an employer can hope to receive from an employee, since there is no longer pressure for the employee to guard one’s responses in an effort to improve their individual status within the firm. Benefits may include:-
Shortening and improving effectiveness of the recruitment process which benefits both parties reducing employee absenteeism sustaining or raising organizational performance through potential and recognizing the skills of an employee so as to provide with him the right growth opportunities which benefits the both parties reducing possible litigation issues increase employee engagement and alignment guarding against potential lawsuits smoothing over any conflicts with co-workers or managers learning about problems of employee and how to handle them properly it helps to create a better workplace for all helping to discern whether the employer’s pay is competitive act as final net, to hear about employee problems and try to solve them, and thus retaining their best people they are seen by existing employees as a sign of positive culture, a sign that the organization is big enough to expose itself to criticism provide valued data and feedback that help organization to grow and mold themselves according to the market and for the benefits of employees provides crucial results and analysis for the training process
Every organization has at any point in time several good people on the verge of leaving because they are not given the opportunity to grow and develop, at the same time , ironically, that most of the management and executives are overlooked and stretched, some to the point of leaving too. Doesn’t it therefore make good sense to raise the importance of marrying these two situations to provide advantage both ways:- i.e., facilitate greater delegation of responsibility to those who want it? Exit interviews are an excellent catalyst for identifying specific mistakes and improvement opportunities in this vital area of management development and succession. It acts like a bridge which provides one to one discussion and promote healthy work ethics.