What are Exit Interviews (EI)?
An Exit Interview is a Question & Answer session conducted with a separating employee. Exit Interviews can be face-face, voice-based calls, or through online exit interview website (aka exit surveys). An exit interview can be delivered by the employer or an independent third party to increase assurance of confidentiality.
The purpose of employee exit interviews is to capture the employee experience, identify the motivational drivers toward separation, and to determine the action(s) that will decrease the likelihood of reoccurrence. Exit Interviews are one of the three (3) pillars of the “Employee Feedback Triad” for people analytics (New Hire Surveys, Stay Interviews, Exit Interviews). This is because it is an irreplaceable tool to determine why people leave, which can only occur when people leave. As an data-gathering tool, a valid Exit Interview pinpoints “Why Employees Quit” with the highest accuracy. There is no alternate instrument that can replicate it with any comparable confidence. Therefore it is considered an essential data source in Talent Management.
Well-crafted Exit Interview programs help companies gain valuable insight from all entities involved in a separation (HR, Manager, Peers, etc…). These insights serve to target high-potential new hires during recruiting, and increase current high-performer talent retention. The process can mitigate the impact of the departing employee and calibrate future retention strategies.
Why Use Exit Interview Software to Conduct Exit Interviews?
By gathering positive and constructive feedback, employers that conduct employee exit interviews are able to prioritize their retention solutions and action plans to get results faster.
Exit interviews help eliminate assumptions
Management tends to view compensation as the primary reason employees leave companies. A recent survey that found 89% of managers believe employees leave for more money, but 88% of employees listed reasons for leaving other than compensation.* Additionally, recognize the potential value of conducting exit interviews from involuntary separations (or terminated employees) to reduce legal exposure and to identify characteristics of those who do not fit the organization.
Disengaged employees think about quitting while you pay them
Competent and qualified high performers always have job prospects. Who you want to retain are the hardest to keep:
- Based on extensive research, 65% to 84% of employees are passively or actively looking for new jobs, while employers estimate this number to be 37%.*
- Additionally, research shows that the highest traffic period for job seekers viewing online job postings is between 10am to 2 pm**, and Careerbuilder.com indicates that peak times for job search are around lunch time.
- Furthermore, over 70% of all employees negotiate and accept competitors’ job offers during work hours, while you pay them.
Once employees disengage, you cannot stop them from job searching. If you don’t know why employees leave, you will not be able to keep your employees from leaving. Exit interviews are one of the most cost effective tools you can use to gain insight to help continuously engage and retain your best employees. You can improve the workplace so that even if some employees resign, more don’t follow.
Retaining good employees will only get harder
FACT: As unemployment decreases, turnover increases. With more companies competing for your top talent, investing a few dollars to retain is far cheaper than the cost to replace. Whether their reasons include recognition, better benefits, direct supervisor, or career opportunities, you need to know. An exit interview is the ideal, and often only, way for you to uncover exactly why your employees resign. For a company to get the best insight, it is important to exit interview everyone who separates. Contact us, and learn more.
Web-Based Exit Interviews
If capturing feedback from all of your separating employees for a flat-fee online sounds appealing, web-based Exit Interview are the way to go. Once the separation is started in ExitPro, a custom email is sent directly to the employee’s inbox with the option of attaching custom “Separation Documents”. If the employee does not complete the Exit Interview, 3 automatic reminders will also be sent out.
When completing the interview, employees will have the option of entering their comments as well as self-selecting codes that best capture reflect their responses. With an HRIS integration, it is also possible to completely automate this process – set it up once and have reports delivered direct to your inbox.
Another feature of web-based exit interviews is a “kiosk” function, where an employee can go to a website (ex: http://company.exitpro.net) and anonymously complete their exit interview.
Web-Based Exit Interviews may be the best choice if:
- Employees have email and internet access
- Your employees may wish to take the interview outside of 9am-9pm EST
- Cost is a consideration – hear from everyone for 1 rate
- There is documentation to be provided along with the separation
- Managers or HR need to be sent a survey section to complete
- Full automation of the separation and Exit Interview process is desired
Contact us and learn more.
Live Voice-Based Exit Interviews
When you want to provide the most personalized experience and obtain the fullest insight from separating employees, choose Voice-based Exit Interviews. Often over the phone, these exit interviews are most appropriate when organizations want to know the complete picture. Voice-based exit interviews are used with staff, managers and directors to capture the complex impact of employee departures. Some firms apply voice-based exit interviews for all staff when they want to make a statement that “Our people are important here”.
Companies have a choice in how they conduct exit interviews, and ExitPro supports every format. If you outsource voice-based interviews, your organization will have trained exit interview specialists administering exit interviews and capturing data, while still getting all the benefits of using ExitPro. All exit interview data will be processed by ExitPro, and your organization will have real-time access to ExitPro’s comprehensive reporting and trend-tracking features. If you have an internal procedure, you can use ExitPro to centralize all exit interviews processed.
Voice-Based Exit Interviews might be the best choice if:
- Separating employees do not have easy access to the internet
- Not every employee has a reliable email address on file
- You want to capture as much commentary as possible
- The highest possible completion rate is desired
- Employees might be hesitant to provide feedback
If you are interested in outsourcing exit interviews, exit interview specialists can act as impartial third parties whose objective is to help your company completely understand why your best employees leave. The outsourced approach allows for more confidentiality and privacy, resulting in more candid employee feedback.
View our types of Exit Interview software here.
Paper-Based Exit Interviews
Sometimes organizations need to implement paper-based exit interviews. Employees in manufacturing, retail, mining, telecommunications, transportation, or other field-based industries may not have access to the Internet. In these cases, a printed exit interview questionnaire or form is provided. If a paper-based exit interview process makes the most sense for your organization, you can still get all the benefits of using ExitPro along with the support of trained exit interview specialists. All exit interview data can be entered into ExitPro by another employee at your organization and will be processed using the same technology; your organization will have the same access to ExitPro’s comprehensive reporting and trend-tracking features.
Paper-Based Exit Interviews may be best if:
- Provides convenience for employees who do not have easy access to the Internet
- Very straight-forward procedure for the separating employee