The purpose of an exit interview is to assess the overall employee experience within your organization and identify opportunities to improve retention and engagement.
Exit interviews are important because they offer a deeper look at your workplace culture, day-to-day processes, management solutions, and employee morale. When completed in a consistent and standardized way, these interviews can help you foster positive relationships and a welcoming working environment. If you aren’t already completing exit interviews, consider the value they can bring to your company.
We’ve compiled a list of 10 reasons highlighting the importance of exit interviews to help your organization get the data and insights needed to create a more positive work environment.
- Departing employees are generally more forthcoming than those still in their jobs
- You will learn the reason for an employee’s departure (it may be different than you think!)
- The exit interview allows the employee to provide constructive feedback and leave on a positive note
- That last touch point provides you with an opportunity to review continuing obligations with the employee (e.g., non-competes, intellectual property agreements etc.)
- It provides the opportunity to ask if there are any open issues of which you need to be aware. This can help reduce risk and identify matters that may require immediate attention.
- You will get a candid assessment of your organization’s environment and culture
- Insight into recruiting, onboarding and training needs may be revealed.
- The feedback will help you to identify areas that can help improve staff retention.
- Improvement opportunities in management development and succession planning can be detected.
- It’s cost effective and easy to facilitate with HR Acuity Exit Interviews! (OK a little shameless plug!)
We hope these examples help you better understand the purpose of an exit interview. No matter the size of your company, exit interviews provide an opportunity for an employee to discuss the workplace environment, concerns about misconduct, or issues within management.
While these interviews can bring incredible value to your company, they need to be executed in the proper way to provide useful insights. Over 90% of Fortune 500 companies conduct exit interviews, yet just over 40% of them view the practice itself as successful. Reaping the benefits that go hand-in-hand with conducting exit interviews all starts with asking relevant questions specific to the employee’s role. An essential next step is understanding how to analyze and interpret the answers to improve your employee relations and workplace environment.
Creating and implementing more effective and consistent interviews can seem challenging and time-consuming at first, but the insights you will gain from understanding the connection between employee feedback, behavior, and organizational trends will tell you everything you need to know to grow your business tenfold.
Looking for a better way to conduct exit interviews? Learn how HR Acuity standardizes the interview process and helps you analyze feedback to gain valuable insight into workplace culture, so you can create a more engaged and focused team.