Exit interviews are essential to the growth and development of a company. As employees move on, companies have a unique opportunity to learn more about why they are choosing to leave their company. For many companies, the most effective way to compile accurate and dependable information from exit interviews is through an exit interview service provider. Each and every staff member has insight to share that can help you to determine where your company is thriving and where it seems to be struggling. Why should you choose an outsourced exit interview service, like HSD Metrics®’ ExitRight® process, to help your company to increase employee retention and reduce overall turnover?
1. You’ll save time.
When exit interviews are outsourced to a service provider, internal HR departments and administrators are not responsible for taking additional time out of their day to complete extensive and comprehensive exit interviews. If you choose to utilize an outsourced exit interview service, they will handle every step of the process from notifying former employees to reporting on their findings.
2. Interviews are comprehensive and have a unique design focused on controllable turnover causes, new employer information, and retention solutions.
Don’t worry about missing important information provided by the former employee during the exit interview. ExitRight® is designed to include both extensive data and verbatim employee commentary to give you a complete picture of retention opportunities for managers, teams and the entire company.
The exit interview is designed by professionals who are able to link findings to best practices for employee engagement and new employee onboarding. From reviewing hundreds of exit interviews, it is clear far too many interviews are focused on “please rate your satisfaction with…” rather than a “select which items below contributed to your decision to leave” approach. Satisfaction ratings and reasons for leaving may have little linkage. An exiting employee may have a low satisfaction rating on training, but training may have nothing to do with their reason for leaving. Asking direct questions and facilitating open-ended questions will give you the valuable answers you are looking for.
3. You can customize your exit interview.
If there are particular questions that you would like to ask your former employees, they can easily be added to the exit interview. Also, if you are interested in specific findings, reports can be tailored to fit your organization’s needs.
4. There are many response mechanisms available.
ExitRight® offers three unique interview options for respondents to complete their exit interview. By offering respondents options to complete the interview on the web, on paper or over the phone, you increase the likelihood that former employees will respond. A higher response rate helps companies have more reliable, actionable data.
5. Exit interviews offer robust analytics and instant access to findings
Analytics are essential to the exit interview process. Exit interviews completed through an exit interview service give companies instant access to data aggregated to their unique organizational structure. You are also able to see important turnover cause differences by age generation, gender, performance ratings, organizational level and many more. Most clients who approach ExitRight for services lack an efficient, cost-effective means of compiling and reviewing findings.
6. External norms help you understand how you compare with other companies.
Leaders are often surprised to learn the number one cause of turnover is the supervisor. However, if your organization ranks other items of greater importance than supervision, this may indicate your organization has effective managers or it may suggest much more attention needs to be given to other areas of your business.
7. Exit interviews offer an economical means of continuously pulsing the organization.
External vendors often offer instant notification on “red flag” items, such as unethical business practices. Exiting employees will provide more specific information when their name is not revealed in the reporting of findings. When an employee resigning mentions a supervisor or co-worker whose behavior is inconsistent with the organization’s values, the commentary may be appropriately shared or investigated to enable corrective action.
If you are interested in outsourcing your exit interviews to an exit interview service, contact HSD to learn more about our ExitRight® surveys, designed to gather feedback from your former employees to help you increase employee retention and reduce turnover.