|It comes as a big blow when one of your best employees calls it quits. But if you wait for a string of staff to depart before you do anything about it, it's already too late. This is where exit interviews become valuable.|
Do you know what your business' turnover rates are? A healthy turnover for a small business is between 10 and 20 per cent. Any more than that is a waste of recruitment time and money.
Businesses that neglect to run exit interviews are missing opportunities to gain valuable information that can be use to make changes to help prevent staff from leaving and to make their organisation a better place to work.
It's easy to assume you know what your staff is thinking, but it pays to invest in exit interviews and even employee surveys to get the truth. This could support your gut feelings and reveal surprises. Businesses often focus on making money and keeping customers happy that they neglect to think about their people.
Reasons why people leave can be due to lack of training and career progression. Their solution is to look elsewhere instead of talking to you.
Exit interviews can be really confronting but it can be advantageous for both parties; the departing staff get an opportunity to get things off their chest, while the business gets constructive feedback on how they can improve their business and make it a better place to work for everyone.
To ensure open and candid feedback is obtained, it's best to engage in an external party to conduct the exit interviews. It's less likely the candidate will hold back when talking to someone external from the organisation for fear of repercussions.
The right talent is hard to come by so if you find great people you need to hang on to them!