Is Conducting Exit Interviews Important?

How does not conducting exit interviews or failing to use the data collected during exit interviews put an organization at risk and inflate their hiring expenses:

  1. Inability to identify causes of turnover to prevent  future resignation
  2. No plan for developing retention focused programs due to no data
  3. Lost opportunity to avert litigation. Exit interviews can act as early warning signs to potential harassment or human rights issues
  4. Inability to gather competitive intelligence. What did your competitor offer to this former employee?
  5. Unnesessary costs for recruiting and training new personnel
  6. Guessing why the employee resigned. Was it due to management/coworker/salary/benefits/work hours
  7. Inability to measure differences by department or management
  8. Overlooking positive comments or suggestions that may aid in future retention

Exit interviews should clearly be a part of every human resource program due to the valuable information collected.