Exit interviews: How can they save you money?

 

Exit interviews are often overlooked as an extremely valuable retention and feedback mechanism. A well-crafted exit interview system can not only provide you with valuable information to help improve your organisation, but will also help save you money!

When an employee leaves an organisation, gaining their feedback in a formal way is vital. This constitutes an exit interview. Ask them questions about the role, the company and the work environment.

 

The purpose of the exit interview is to gain feedback from employees in order to understand their perceptions and experiences of the position and the company. 

Exit interviews serve as an excellent catalyst for identifying specific mistakes and improvement opportunities. Analysis of exit interviews is a great way of finding out what works and what doesn't work in relation to a wide range of areas; including company policy, training and induction, management, and work environment. The results gleaned from these interviews can provide direct indications on how to increase staff retention, which will in turn save you money.

What is important to note, however, is that conducting an exit interview is not enough to guarantee a reduction in staff turnover. Gaining the feedback is only the first step in the process. The second step is using the feedback you receive from exit interviews in order to better company policy and procedure. Improving the working conditions and environment of the company can increase employee satisfaction and commitment - Providing the right structure and environment is important in allowing employees to want to work for your organisation.

Save yourself time and money! Here at EBR, we can carry out the exit interviews for you! Find out more about the services we offer here.