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- Warning!! This May Help You Regulate Your Employee Turnover Rate!!
Warning!! This May Help You Regulate Your Employee Turnover Rate!!
It might be a surprise to you
Aditi Goyal
February 23, 2023
According to the recent Bureau of Labor Statistics, the average employee turnover rate in 2021 was around 57.3% of which 25% was voluntary turnovers.😮
Ya! Employees leaving an organization is not pleasant. You must have invested a lot of valuable time, money and resources on them, 💰 and tried everything to make them stay. But if an employee has made up his/her mind to quit the organization, there is not much you can do to keep them. 🤦
But it is also your time to gather data from their experience, understand your company culture, improvement areas and stop it from happening again. 👍
Today I will share with you how you can benefit from ‘leaving employees’ and benefit your organization. 🤗
Even in current times, there are many companies that don't even bother communicating with the employee who is leaving or even if they do so, it is just for a formality not to gather data to improve their employee retention. 🤔
Yes definitely Employee Turnover can be harsh. Additional recruitment costs, training and mentoring new hires but employees are honest 😉 when it doesn't affect their pay slip, that is when they are leaving.
So, how exactly should you be interviewing the employees leaving your organization or conducting an Exit Interview?
Plan Ahead: Schedule the exit interview in advance, focus on the objective and what data you can gather. Make sure to prepare any necessary materials or questions beforehand. 📝
Either surveys or one-on-one interviews, prepare the questions in advance which will help you conduct a productive interview and collect as much as important information which you would not get otherwise.
Schedule And Share The Interview Questions: Don't take the employee's time for granted. Coordinate the interview time and place in advance. Proper planning will also help the employee be comfortable and prepare what they want to say in advance. 📅
You don't need to be all serious and sour about the whole deal, express support and excitement for their new opportunity to make the environment light.
Use Open-Ended Questions: Asking open-ended questions allows the employee to share their thoughts and feelings, rather than just yes or no answers.
If you want to read your employees mind and gather in depth information to better understand employees' thoughts choose open ended questions which will not restrict the responses.
Be An Active Listener: Listen actively to the employee's responses and show that you are genuinely interested in their feedback. Ask follow up questions as much as possible. 👂
Though the employee is leaving the organization, and you might only be interested in knowing why, keep the conversation positive and avoid any confrontation or accusatory tone.
Remember to gather data and implement the feedback to improve the employee experience of your company.
Keep It Confidential: Assure the employee that their responses will be kept confidential 🤫, unless there are any legal or safety concerns.
When employees are assured of confidentiality, they will feel free and will provide their opinions more freely.
Follow Up: Follow up with the employee after the exit interview to thank them for their feedback and to let them know how their comments will be used. ☎️
It will create a positive image in the market and the employees might also suggest your company to other talents if you maintain a connection.
Also, use objective criteria to evaluate the feedback and use that feedback to make changes to the company culture, policies, and procedures.
Keep It Consistent: Conduct exit interviews for all employees leaving the company, regardless of the circumstances of their departure. ✅
Though the most effective way is a traditional one-on-one physical interview.
If not possible conduct an online interview or give them a call or at least send a questionnaire with open ended questions to gather as much information as possible.
Use A Standard Questionnaire Or Template: Exit interview questions are very important not to miss out any critical information during exit interviews so, use a standard questionnaire or template to ensure that you are covering all of the important topics. 📝
But don't get rigid with following the questions, be flexible while asking questions. Make sure to ask follow up questions (if necessary) to gather additional information or evaluate the integrity of the answers.
Bonus Exit Interview Questions 😄
Select the interview questions that will help your HR team improve the current employee experience and retain valuable employees for a long period of time.
Here are some suitable exit interview questions you can consider:
Why are you leaving the company?
Did you experience any kind of ill treatment during your tenure?
Were your concerns or feedback heard by your manager?
What does the new company or position work that we don't?
Did the company support you to achieve your career goals?
Were you provided with abundant learning and training opportunities?
What were the things you enjoyed most about working here? And the worst?
What do you like about the company?
What could we have done to retain you?
What opportunities for self-improvement would you like to have that go beyond your current role?
Would you refer a friend to our company?
If you could change one thing about your job, what would it be?
What qualities should we look for in your replacement?
What advice do you have for the next person in your position?
Reflection question for you
For how long have you been associated with the company you are currently working for?
Write to me at [email protected]. You can also reach out to me on LinkedIn; or Twitter. If you wish to explore more about E-learning for organizations in Nepal, visit Learn Infinity.
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If you want to buy the Need-Analysis Playbook at 80% Off, Purchase from here: https://6313630535789.gumroad.com/l/learning-needs-analysis-workboo
If you are still setting up your L&D Team or scaling it up with some major changes, I'd recommend you take a Coaching Call with Aditi. I will give you a no-nonsense actionable set of advice that you can start working on immediately. Write me an email at [email protected].
Do not forget to reflect on the question!!!
Till then, have a good week.
See You Next Saturday
Sending good vibes,
Aditi Goyal
+977 9802848899