Don’t Undervalue the Exit Interview
Several years ago, I left an organization to take on a new role that honored my interest in growth and advancement. I was given the chance to participate in an exit interview to share my thoughts about the organization and my experience. I believed this was a way for me to share candid and thoughtful feedback to help the organization evolve and improve. Afterall, I cared about this organization and the people I was leaving behind.
As I sat down for the exit interview with the HR professional, I asked how my responses would be shared and considered. They stated that the process was part of the required HR protocol with a departing employee and the notes would be put in my file, but they doubted if anyone would look at them, let alone take action. This was a missed opportunity to learn from my 7-year tenure as a leader with the company and confirmed my decision to move on.
It Begins at the End
Perpetual feedback loops are essential for organizations that want to grow, tackle challenges, and create a culture that enhances recruitment and retention.
Kelly Knight wrote a great piece in www.ChiefExecutive.net that was reposted in SHRM.org about the power of exit interviews.
According to Knight,
“Exit interviews help leaders dial into their company’s current direction. Plus, they generate questions that recruiters can use in the hiring process to discern whether a candidate is a good fit. Exit interviews can uncover a multitude of issues that help you improve your processes and procedures.”
The exit interviews often reveal shortcomings that hadn’t been previously identified that impact the current employees and their productivity, satisfaction, and longevity in the organization.
Knight says, “When looking for ways to improve your hiring and recruitment process, exit interviews might not immediately spring to mind. However, they’re an excellent opportunity to hold up a mirror to your company and see what’s working and what isn’t. Then, you can adapt your business for the greater good of your team and the customers you serve.”
Do I Rock the Boat and Share Candid Feedback?
Some of my clients have expressed their disinterest in being forthcoming during an exit interview because they didn’t want to rock the proverbial boat, and/or because they knew their responses would end up in a file never seeing the light of day like my experience.
This is a sign that organizational psychological safety does not exist, and fear of retribution stops developmental feedback in its tracks. What a missed opportunity for leaders and organizations to learn from authentic feedback from employees.
Offboarding Matters
Offboarding is as important as onboarding a new employee as you welcome them into your company. Offboarding is a way to align employee departures with company values. You may not have considered how important culture, behaviors, and values are when offboarding an employee who is leaving your company. Savvy leaders know that employees who leave can continue to be positive brand ambassadors — or not. Stewarding relationships with alumni employees can lead to knowledge transfer, business development, and boomerang talent that returns with new and valuable experiences down the road. The way an employee exits your organization matters.
Disgruntled employees are quick to leave bad reviews on the digital job boards that impact reputation and future recruiting.
A Harvard Business Review article by Spain and Groysberg highlights:
“Research has shown that high turnover predicts low performance and that an organization with turnover lower than its competitors’ can be at a considerable advantage—particularly if it retains its top performers. If people are leaving an organization in ever-increasing numbers, figuring out why is crucial. And the most useful tool for doing so is one that too few leaders pay attention to: exit interviews. According to our research, many companies don’t even conduct these interviews. Some collect exit interview data but don’t analyze it. Some analyze it but don’t share it with the senior line leaders who can act on it. Only a few collect, analyze, and share the data and follow up with action.”
In today’s knowledge economy, skilled employees are the asset that drives organizational success. Companies must learn from them—why they stay, why they leave, and how the organization needs to change. A thoughtful exit-interview process can create a constant flow of feedback on all three fronts.
The ROI of Exit Interviews
Spain and Groysberg offer excellent insight about why you should invest in exit interviews.
Uncover issues relating to HR. Companies that conduct exit interviews almost always pursue this goal but often focus too narrowly on salary and benefits. People need a certain level of financial compensation to remain with an organization, but unless their salary is out of alignment with their peers’, money doesn’t usually drive them out the door. Plenty of other HR practices can play into an employee’s decision to leave.
Understand employees’ perceptions of the work itself. This includes job design, working conditions, culture, and peers. This can help managers improve employee motivation, efficiency, coordination, and effectiveness.
Gain insight into managers’ leadership styles and effectiveness. This equips the organization to reinforce positive managers and identify toxic ones.
Learn about HR benchmarks (salary, benefits) at competing organizations. Use exit interviews to see how competitive you are against other employers: time off, ability to advance, different benefits, and pay packages.
Foster innovation by soliciting ideas for improving the organization. Exit interviews should go beyond the individual’s immediate experience to cover broader areas, such as company strategy, marketing, operations, systems, competition, and the structure of their division.
Create lifelong advocates for the organization. Treat departing employees with respect and gratitude. That may encourage them to recommend their former companies to potential employees, to use and recommend the companies’ products and services, and to create business alliances between their former and new employers. You want a departing alumni employees to leave as an ambassador and customer.
Alumni Colleagues for Life
Savvy global organizations like McKinsey, Deloitte, and Accenture have abundant resources dedicated to alumni employees knowing that they may become future clients or return workers. They have alumni news channels to celebrate alumni success, directories to share profiles and communicate, and special events and professional development opportunities to keep them in the fold. Career Services resources also allow access to posted opportunities and engagement with corporate recruiters.
Alumni leverage these services to make, sustain, and build upon the close professional relationships they started while at the firm and to develop their skills and careers. It makes great sense and creates a return talent pipeline that is priceless.
Kudos to the organizations conducting thoughtful exit interviews that cultivate a safe space for sharing developmental feedback. And a warning of caution to organizations that are not conducting exit interviews, or truly considering the feedback offered. It’s time to look into the mirror to reconsider how you are offboarding valuable talent.
