HomeHome SearchSearch MenuMenu Our productsOur products

4 Benefits of having exit interviews

by , 02 December 2015
An exit interview is an interview which you have with an employee who's leaving. It can held by the departing employee's manager, but is preferably done by a third=party member in order to maintain objectivity and neutrality.

This is vital because, during an exit interview, the reasons why an employee is leaving are discussed, and these reasons may be sensitive. Also, the employee's history within the organisation can be reviewed.

At the end of the day, the information you get out of exit interviews can give you insightful information in improving employee retention.

Here are 5 other practical benefits of having exit interviews:

Benefit#1: Lower costs of recruitment and retraining

Research shows that employee turnover can cost companies 1.5 times the annual salary. This, with an average turnover of 11%, can have large effects on your company's bottom line.

Benefit#2: Save time

Unnecessary time, which is spent retraining new staff, is greatly reduced.

This includes reducing the time it takes to re-establish the dynamics of the work team, distributing work left by the departing employee etc.
 
 *****Advertisement*****

Choose the best recruitment method to suit your specific needs

Click here for more details…

*********************
 
Benefit#3: Save time, and money, on potential productivity

An employee leaving could lead to serious setbacks in terms of productivity, can have severe long-term repercussions for your company, such
as lost clients, customers, profits etc.

Benefit#4: Determine the real reasons for leaving

By conducting exit interviews, you could find out the real reasons an employee is leaving.

By knowing this, you can apply this knowledge and learn from it to avoid a similar scenario with any other employees.

As in the words of a George Santayana, 'Those who don't remember the past are condemned to repeat it.' Don't be someone who ignores this sound truth.
 
To find out more practical benefits on exit interviews, subscribe to the Practical Guide to Human Resources Management today. 


Related articles




Related articles



Related Products



Comments
0 comments


Recommended for You 

  Quick Tax Solutions for Busy Taxpayers – 35 tax answers at a glance



Here are all the most interesting, thought-provoking and common tax questions
asked by our subscribers over the last tax year – everything from A to Z!

To download Quick Tax Solutions for Busy Taxpayers – 35 tax answers at a glance click here now >>>
  Employees always sick? How to stop it today



Make sure you develop a leave policy to regulate sick leave in your company.

BONUS! You'll find an example of the leave policy and procedure in this report.

To download Employees always sick? How to stop it today click here now >>>
  Absenteeism: Little known ways to reduce absenteeism



This FREE e-report will tell you how you can reduce absenteeism in your workplace while avoiding the CCMA and without infringing your employees' labour rights.

To download Absenteeism: Little known ways to reduce absenteeism click here now >>>
  7 Health & safety strategies to save you thousands



Don't let a health and safety incident cost you one more cent. Implement these seven
strategies in your company today.

To download 7 Health & safety strategies to save you thousands click here now >>>