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