In a corporate setting, human resources (HR) personnel frequently conduct exit interviews. In contrast, management may conduct interviews, or they may be contracted out to a human resources service provider depending on the size of the business and other considerations.
The interview could take place in-person, on the phone, online via chat or email, or even as part of an online poll. In general, interviewers prefer interactive approaches over surveys because they provide them with the chance to engage with the employee and come up with follow-up inquiries that can elicit more detailed information.
Types of Exit Interviews
- Face-to-face exit interviews
- Exit interviews over the phone
- Exit Interviews Using Paper and Pencils
- Online Exit Interviews
Advantages of Successful Exit Interviews
Exit interviews, when conducted well, can be a terrific tool for businesses to gather candid input that will eventually help them improve their workers’ working conditions going forward.
Effective employee exit interviews also provide the following advantages:
1. Friendly Parting: Making sure employees leave on a favourable note is crucial given that 15% of workers return to work for a former company after quitting (a process known as boomeranging). That can be ensured with the aid of an effective exit interview.
2. Discreet Departure: An employee exit interview can assist you in preparing for a smooth exit by resolving any outstanding issues, such as equipment returns, non-compete agreements, intellectual property agreements, and more.
3. A Pleasant Q&A: A departure interview might be the ideal venue for any queries employees may have to get clarification and closure.
4. Individual Conversations: Some retiring employees might still want to air their criticisms and disappointments. They may choose to raise their complaints in public if you don’t provide them with the opportunity to do so in an exit interview. This may not only harm your firm’s reputation but also prevent your company from receiving critical criticism before it’s too late.
Why Do Businesses Perform Exit Interviews?
Companies generally conduct exit interviews to ascertain the causes of employee turnover—the frequency with which individuals leave an organisation. An employer would benefit from knowing whether an employee is quitting due to problems with the business so they can fix the problems. They can monitor changes over time in employee satisfaction patterns.
A high employee retention rate is vital for firms since it takes time, effort, and money to attract, train, and pay staff. A corporation might earn a better return on investment the longer an employee works there. Making their business a place where employees desire to work and stay in the future is in the best interest of employers for this reason.
When Ought Exit Interviews to be Performed?
On the final day of employment, an exit interview should be done and scheduled one week in advance.
A survey or set of questions to be asked during the interview might be included when making the appointment. This allows the worker to collect their thoughts, formulate their points, and become more at ease speaking up. Additionally, it gives the interviewer a sneak peek of the employee’s comments, allowing for a better-structured and more fruitful session.
Unfortunately, interviews often reveal information that, had it been known sooner, could have been addressed and resolved long before the employee decided to quit. Throughout the entire process, having regular, open contact between the employee and HR.
How to Run a Successful Exit Interview?
You must set realistic goals, have an open frame of reference, and be ready to succeed in an exit interview. Since every employee departs for a different set of reasons and in a different set of circumstances, each interview will be unique. Still, you should aim to follow the same guidelines and guidelines in all of them.
For the greatest outcomes, use a few of these exit interview suggestions:
- When arranging the meeting, be sure to explain its aim.
- Ask a different person to interview the employee’s immediate manager.
- Ensure secrecy while promoting openness.
- Prepare a list of pertinent and useful questions.
- Send your support and enthusiasm for their new chance.
- Implement feedback to enhance the experiences of other employees.
Exit Interviews: What Does HR Do With Them?
One of HR’s primary areas of concern is employee retention, with the cost of losing an employee to a company being the most compelling justification. It amounts to approximately 33% of an employee’s yearly compensation (possibly much higher).
Human Resources can reduce employee turnover and its costs by conducting exit interviews. They can achieve this by leveraging the interview feedback to learn from the experiences of a departing employee.
HR carefully examines the information provided and uses it to enhance the experiences of current and future employees. Before performing a quarterly or annual analysis to look for trends, they redact all personally identifying information (e.g., if a certain company policy negatively impacted a group of employees or a lack of trust in a certain manager).
Some revelations compel HR to conduct internal inquiries or alert law enforcement to a possible crime.
Why is Understanding “What is an Exit Interview?” Relevant?
Understanding the definition of an exit interview will help prepare for the procedure. If you quit your job, your employer might invite you to participate in an exit interview. These might be excellent chances for you to express your opinions about the position and setting you are leaving.
Participating in these interviews can be especially beneficial if you have serious criticism for the company. This may allow the business to evolve for the better and support incoming workers more effectively.