Sometimes, team members leave despite your best efforts as a manager or director. When an employee does decide to move on to the next opportunity, conducting an exit interview will provide valuable feedback. For the employer, exit interviews shed light on areas that need improvement and affirm what your organization is doing right. For the employee, the exchange can be a way to give constructive criticism and offer suggestions about workflow or procedures.
However, many companies don't even schedule exit interviews. Some that collect the data don't take the time to analyze it. Others interpret it internally but neglect to share it with the leaders who can implement some suggestions. Very few companies collect, analyze and distribute exit interview data, then take action because of the data.
According to a Harvard Business Journal article, in today's knowledge economy, skilled workers are assets that push forward organizational achievement. Exit interviews can help companies learn why people stay, why employees leave and how the employer should change to retain them.
Effective exit interviews are conducted between the initial resignation conversation and the employee's departure from the organization. Some companies even do the exit interview via phone a month after the employee has left. Note that most executives promote keeping exit interviews to 60 minutes.
Here are some suggested questions to include in exit interviews.
When you have finished asking questions, recap the key points and ask any clarification questions. Thank the leaving employee for their time with the company and send them off with best wishes for their future work. Then use the information from the interview when hiring a replacement for the exiting employee. It will also ensure your current team has everything necessary to excel in their work.
Overall, exit interviews provide companies with a golden opportunity to glean honest feedback that can be applied to improve the work experience of current and potential employees. In addition, by conducting exit interviews with departing workers, you can develop a roadmap for retaining and keeping employees happier over the long term.