IMPORTANCE OF EXIT INTERVIEWS TO BOTH PARTIES
An Exit interview is a final meeting between an employer and a departing employee. By conducting one, the employer is better able to learn what the reasons for the departure are, and to gain valuable information that can be helpful to improve or protect the company in the future. As for the employee, it acts as a platform to share his problems, if any. It also provides a chance for the employer to retain their valuable employee who would otherwise have left; it acts as a final net. This process is useful for the employee as it one to one discussion and several good employee who are on the verge of leaving the company and haven't got the opportunity to grow and develop, find themselves with their problems solved. An exit interview is a tool that assesses:-
What drives an individual to leave an organization
The aspects the employee valued
What the individual thinks need to improve in order to increase employee engagement, performance, and loyalty Employee morale
In addition, exit interviews are also a good opportunity for obtaining feedback on employment issues such as vacation time and pay, health benefits, pensions and fringe benefits. The interview can also provide valuable insight about skills and abilities required to perform the job that the employee is vacating. Exit interviews can also be used to find out if an employee is moving to another employer which can enable organizations to amend their HR strategy to target, attract and retain top talent. Employers use the information gained from exit interviews to save money by assessing what should be improved, changed, or remain intact at both organization-wide and departmental levels. An organization can use the results from exit interviews to reduce costly turnover and increase staff productivity and employee engagement. A leaving process allows the employer and employee to properly close the relationship so that:- organization materials are collected...
Please join StudyMode to read the full document