Are Exit Interviews Beneficial? These 5 Reasons Say Yes!

Many organizations dislike the idea of conducting exit interviews. Why invest time or money in an employee exit interview anyway? Between removing employees and hiring new people, conducting such interviews may be the last thing that comes to your mind. But here’s a tiny insider’s tip –  an exit interview is designed to benefit you. Most organizations perform exit interviews as a corporate ritual; they don’t think about the many advantages these interviews can provide if done appropriately. 

5 Benefits Of Conducting Exit Interviews 

Here are just a few of the numerous advantages of conducting exit interviews prior to an employee’s exit

Know About the Organisation’s Culture

Employees, both past and current, shape an organization’s culture. Hence, they are the first to know if something is wrong. However, it may be difficult for employees to provide a critical point of view of their workplace while still employed. Exiting employees are more open and honest about their feelings. Therefore, the feedback you get on the exit interview survey during the leaving process is considered to be genuine. An organization can leverage this candid feedback to work towards the growth of their firm and eventually minimize attrition rates as well. 

Increase Employee Retention 

When an employee leaves for something bigger and better, the team must locate a suitable replacement while also evaluating the employee’s daily impact on the team. Does the organization realize that the reasons for leaving employees change frequently? Do they have any statistics to back up their claims? Is it the job? Or is it the low salary? These are just a few questions that an exit interview might help you find answers to.

Chance to Get a Constructive Feedback

When conducted properly, these interviews can produce substantial information. This final sort of assistance will be very valuable. Ex-employees are usually more willing in recounting the good, bad, and ugly. More frequently than not, you will receive bad feedback. Take it with a pinch of salt and consider the employee feedback as a chance to improve. Positive feedback will also assist you to understand your organization’s culture.

Look for “Patterns” in Exit Interview Data

Take these interviews seriously and don’t just do them for the sake of it. An efficient exit interview procedure does not attempt to convince the employee to reconsider his or her decision to resign. It works to identify the patterns that explain why good employees leave their jobs. These patterns will assist you in developing retention measures that will help you reduce further turnover in your organization.

Cost-Effective 

Exit interviews are generally simple to do, take little time, do not necessitate the use of a budget, and provide a great deal of information. In other words, it’s a wonderful blessing for the human resources department of your organization. It is a tiny investment in terms of both time and resources, but it will provide you with enormous benefits. And even if the investment is tiny, the impact of exit interviews complemented with the tact of the HR executive – is huge. 

Wrapping – Up! 

Exit interviews allow you to give farewell (apart from the party of course) to a person who has been there for your organization through thick and thin in a meaningful and emotional way. It also helps you to get a better insight into your organization’s culture and what can be done to improve it. Exit interview consultants can also assist you in finding the reason for leaving and help you discover the main cause, thereby reducing employee attrition. Want to bid your employee adieu? Get in touch with us!