Today’s workers want to be ‘empowered’ and ‘inspired’ not told what to do – says John Doerr, an American investor and venture capitalist.
Well it’s no surprise when we get updates from our friends and relatives that they have quit their jobs and have joined elsewhere and when inquired into the reasons for doing so, the reasons can be diverse. It could be that they got better remuneration, the work culture is a cut above the past employer, the people they are working with are smarter or they find the new role quite exciting than their previous role.
The American author and motivational speaker- Zig Ziglar alludes to the same testimony as well. He said, “research indicates that workers have three prime needs- interesting work, recognition for doing a good job and being let in on things that are going on in the company.”
This is what gives companies the impetus to consider doing exit interviews, otherwise they may end up losing high quality employees without really being privy of the real reasons of their quitting. A company can gain much more insights from employees exiting the team than employees still on the job.
In this article, we will delineate some significant benefits of conducting exit interviews in an organization and why they should be encouraged.
1 Employee Retention
Retaining quality employees is the most challenging task for any organization. In this area, exit interviews can be highly instrumental in helping companies spot opportunities which can improve and bolster employee retention and engagement.
Since a departing employee is up for grabs, he/ she will be more vocal and honest about giving constructive feedback and the aspects that can be improved upon. This gives companies the thrust to modify and enhance their strategies in a way that promise better employee experience.
2 Employee Engagement
An exit interview can be highly sensitive and hence should be managed well. It has the efficacy to leave an indelible mark on the employee’s perception of the company.
The extent to which an employee’s aspirations are met in an organization and the engagement they had from their entry to exit comes to spotlight in full glare during an exit interview. Whether or not their expectations were met or not, organizations can gather some serious inputs and put into place a well chalked out engagement plan and make amendments if needed. Such practices if implemented successfully, contribute towards boosting employee morale
3 HR related insights
Companies might get tremendous insights into recruiting the right set of people as the management is better informed now of the lacunas prevalent in the system and how they can work them out in the interest of both the employer as well as employee.
The training needs are also easily uncovered which if taken in the right stride, endows the staff with the right skills required to do the job.
4 Work environment and work culture
Utilizing exit interviews gives an employer, a true sense of the work culture and environment existing in their company. Since the element of bias is more or less miniscule, the feedback that is received by the departing employee is extremely impartial and sincere.
So, if there are any troublesome elements existing in the organization’s environment and culture, it can be very well seen through. This will propel the employer to make strides in order to keep the work culture and environment as congenial and positive as possible.
5 Employee Conflicts
Gauging employee conflicts during the tenure of an employee can be perplexing and unfathomable. During the exit of an employee, a lot can be revealed. One may have direct insights around concerns pertaining to management styles, workplace ethics, remuneration, day to day issues, employee morale etc.
Now this information is good enough for the employer to act on. The mark of a good employer is to take such feedback positively and seriously to be able to identify the problem areas and improvise proactively.
6 Company Reputation
The hallmark of an effective organization is in its ability to maintain its reputation and not veer off in the wrong direction due the disagreeable factors existing in the company.
When employees are allowed to voice their concerns, they feel heard and acknowledged. This will not leave a bad taste among them as a result they may not talk wrong about the company they just quit and thus assist in maintaining its reputation.
While this may not be the case in companies where employees are not cared for when they leave. They part ways with a heavy heart and this may prove detrimental to the company’s image.
Besides the above merits, exit interviews not only throw light on company’s weaknesses but vice versa and this can be helpful for organizations to in turn share their feedback with the employee- the possible areas that require improvement. Nonetheless, this article is structured primarily to uncover issues about the company. So, before an employee call it quits, ensure that they are meted with respect as this is the employee who can make or break your company’s reputation. Exit interviews can play a major role in preventing future employee attrition and help your organization gain more insights of all its aspects in a comprehensive manner. Considering the criticality of such interviews, a lot of employers are even turning to independent third-party members to conduct their exit interviews. This ensures that all processes are followed in all fairness and with utmost uprightness.
Nevertheless, after all said and done, the practice of conducting exit interviews is highly encouraged and recommended by all employers.
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