Use Exit Interview To Reduce Employee Turnover

By Author: Naman Vohra
Total Articles: 133
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It is a common belief that a high employee turnover ratio exposes a grave shortcoming of a company. Generally, an employee decides to leave a company because either he has got a better opportunity or the employee is facing some sort of an issue within the company. A better opportunity is mainly when a person gets a better package or bags a desired job profile, other reasons ranging from a better designation, working environment and better brand to various facilities that enhances the employment experience.

Although it is relatively easy to search for a new job for a person, but for an employer, getting a replacement for the employee whose left the organization can be a tedious task. Finding a resource all over again requires a great deal of time, and also involves a cost element. Thus, it is very important for a company to understand the employees it is working with.

Having said that, employees do not generally put forward their grievances in the fear of losing job. This is especially true when the root of the grievance is the boss himself or herself, or when the employees are aware of the biasness prevalent ...
... in the organization. The only time when an organization can expect some candid answers is when the employee puts down his papers and completes his notice period.

Therefore, companies should not lose this golden opportunity of getting some valuable information. Such information can prove instrumental in improving the internal policies with an organization which would further result in reduced employee turnover ratio. An ideal way of capturing this feedback is by way of exit interview. Exit interview literally refers to a meeting held between a company's HR personnel and an exiting employee.

There are many ways to approach the exit interview tool. While one of the ways is to hand out a questionnaire to the exiting employee on the last day, the other way is to conduct an interview physically. When a questionnaire is handed out, make sure that your HR personnel to give back the filled up form within a stipulated time period. Another way is to conduct exit interview via telephonic means.

In the real world, exit interviews is not a concept that is being practised by every company. And, each firm has a reason of its own. In fact, very few companies actually have a fully functional exit strategy in place. It is high time that companies consider the pros of adopting the practise of exit interviews. There are negligible involvement of cost and many benefits attached to adopting exit interviews, including enhanced long-run profitability, low employee turnover and higher productivity.

~Naman is associated with a leading background screening company that specializes in Exit Interview Survey