While employee retention is the aim for most human resource departments, employee turnover is inevitable. According to research in March 2022, 2.8 million people voluntarily quit. This makes your employee termination protocol a key part of your employee career cycle. One way this can be supported is through is the use of exit interviews.
An exit interview is a survey conducted with an employee who is separating from an organization. Its aims are usually to cover any mandatory legal information and gather valuable data on the employee's time at the company.
Research by HuffPost has found that the cost of a lost employee is anywhere from tens of thousands of dollars to 1.5-2.0 times an employee's annual salary. So while losing employees is a costly process. Through the use of exit interviews you can gain valuable information on where to improvements need to made within the company to reduce employee turnover and improve overall job satisfaction within the company.
There are two main ways companies tend to complete exit interviews. The first is HR managers ask the questions and then fill out the employee's responses during the meeting. The other way the employee will complete an exit interview form before the meeting and then discuss their responses with their HR manager throughout the meeting afterward.
Either way, the process must stay within the HR department due to some of the sections being based around leadership. Therefore, if the employee is concerned their answers will get back to their leadership team they may not answer truthfully. This prevents the beneficial feedback from reaching your company and helping improve your organization as a whole.
PeopleGoals's Exit interviews provide a safe and secure way to receive open and honest feedback about your organization from departing employees. Through our easy-to-use template, you can adjust the questions to suit your company and employee needs. It will allow you to gather clear insight into your company culture and management styles. As well as producing a score to let you efficiently keep track of your whole organization.
Due to its high levels of adaptability of its permissions and visability settings, you and your employees feel confident that only the set people in the next state of the workflow will be able to view the questionnaire. Allowing employees to provide truthful answers due to our customizable privacy settings.
The Exit Interview covers:
The interview questions are a best-in-class set designed to gather a broad range of feedback and allow the employee to give in-depth responses.
An exit interview template enables you to make the most of a bad situation by providing constructive criticisms to the company as well as completing any necessary legal steps.
We're all human and sometimes you may not be listening quite as intently as you should. This can lead to you missing important information. Therefore, through the use of exit interviews, you can keep a clear copy of everything that is covered, preventing you from missing any crucial feedback.
Due to the document being similar or the same for all departing employees, your termination protocols are kept clear and consistency is maintained. This ensures your documentation is comparable allowing you to see trends and areas that are key for improvements.
Through crafting a template that is unique to your company you ensure all key areas are covered. This can include legalities such as company equipment being returned to key areas of company culture you want to focus on.
Following an exit interview template helps ensure the discussion is constructive and flows through related topics easily. This is both beneficial for the organization and for the exiting employee, due to it providing support through a potentially difficult conversation.
A template is a guide to follow that keeps both parties on task. It helps keep the conversation flowing and prevents emotional conversations from preventing the interview from being as beneficial as possible.
Employees also come to the interview prepared. This allows employees to prepare mentally for areas that could cause some emotional stress. It also allows them to think about their discussion points allowing them to bring up the key areas they feel need to be reviewed. This preparation allows these conversations to be more insightful and beneficial to both parties.
The first template is a more simplified version. Covering the basic legalities and briefly going into the role itself with 7 open-ended questions and then in a little more detail, it covers their opinions on their leadership teams.
The secondary template covers the same as the previous but with more breadth covered on the role itself and leadership.
Exit interviews provides a fantastic way to gain a positive outcome out of a negative situation. By allowing your departing employee to discuss key constructive feedback allowing them to feel their final opinions have been heard as well as your company gaining vital insight into which areas need improving.
⭐ Book a Demo with PeopleGoal today to see how we can help your organization automate your exit interview process.
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PeopleGoal Content Team