Eye-opening survey: 82% of employers find voluntary terminations more common than involuntary.
Terminations are not fun. Managers hate them. Employees certainly hate them. Once they are done, everyone would really just prefer to move on to better things, right? But the question still remains that needs to be asked: who’s leaving and why?
In a recent survey that was reported on by HR Daily Advisor, an eye-opening statistic about how employees are leaving their jobs was reported. A full 82 percent of almost 1,900 employers polled indicated that voluntary terminations are more common than involuntary. After reading that, we wondered:
- How many of those leaving their current positions were the best and brightest there?
- How long and how expensive will it be to replace these folks?
- Was there anything their employer could have done differently to entice them to stay?
Any high turnover rate can be a problem for employers, but high voluntary termination rates can often be an indicator of a dissatisfied workforce, poor employee engagement and/or weak employer brand. Over time, this type of turnover can be difficult to recuperate from, as it may be a symptom of unaddressed internal problems hurting your business.
Enter the Exit Interview
Exit interviews give the employee who is leaving a chance to get a sense of closure, which can give your company a better relationship with that person in the future. Remember, former employees can bad mouth your company with the far-reaching effects provided by today’s social media—or, they might someday come in contact with your business again as an employee for a vendor, client or in some other influential capacity. It behooves you to be respectful, attentive and professional in your exit interview process. Many times, a departing employee just wants to be heard or get things off his or her chest. Your exit interviewer needs to remain calm and objective, collecting the facts and not taking negative comments personally.
Another thing to consider in regards to exit interviews: How would you handle these differently if you thought that they might be shared in some way with a larger audience than just the person leaving your company? Social media and 24-7 access to information have made it very easy for a bad breakup with a company to be public fodder. To keep your brand in the most positive light possible and still obtain valuable information that can help improve future employee retention and satisfaction when someone is exiting your organization, make sure your exit interview program is effective and collecting useful data.
“For whatever reason an employee ends up leaving your company, remember that they will be more frank and forthcoming if you keep things respectful and professional,” says Tina Hamilton, PHR, president of myHR Partner.
“When companies use the direct manager or even their internal HR representative, the exiting employee will not always open up,” says Hamilton. “What is even worse yet is when a company asks for input from an exiting worker, and then refuses to believe or even acknowledge the feedback. You can bet that the person leaving will share with their old co-workers what was said or done in the interview. The word will get around your company very quickly, thanks to Facebook, Twitter and just old fashion talking.” Do you want that word to be: “Of course they didn’t listen”?
Exit interviews, done well and documented professionally, can provide you with the valuable information you need to improve employee retention and job satisfaction for the people who still work for your company, and they can serve as a nice boost to your business’s public image too. In addition, the data collected can provide benchmarks to support your company’s current and future initiatives. Contact us today about how myHR Partner can assist you with your exit interview process.