Why Outsource Exit Interviews?
Outsourcing refers to a service provider or independent third party, hired by a company to provide services that might otherwise be performed by in-house employees. 47% of companies now outsource some work to Human Resources consultants that specialize in those services. Exit interview outsourcing can be beneficial to a company by reducing time, increasing consistency and quality, and cutting costs. Outsourcing the exit interview is especially beneficial due to the sensitivity of the subject and the bias which can affect exiting individual’s answers. Research indicates that individuals give different answers to their employer than they do to a third party. Independent exit interview companies can facilitate a neutral atmosphere that encourages employees to share their views about the company openly and honestly.
Exit Interview outsourcing to an independent exit interview company can provide :
- Exit interview specialists who conduct 1-on-1 exit interviews with resigning employees
- Facilitation of knowledge transfer from separating employee to remaining employees in an organization in order to transition
- True confidentiality and/or anonymity
- Monthly progress reports & Quarterly trend reports which include graphical summary of all questions and exit interview answers
- More candid responses from separating employees
- Contact with separating employees quickly while motivational drivers to leave are still present
Organizations that outsource resignation exit interviews can gain:
- Consistency: All exiting employees complete an exit interview and they receive the correct exit interview
- Insightful and objective in-depth reports on historical and future trends
- Decreased drain on valuable time of in-house staff
- An administration-free exit interview process
- Reduced employee separation effort and time
- Improved HR performance, productivity and benchmarking of key organizational metrics
- In-depth dialogue to source the root cause of turnover
- Comparable industry trends and exit interview advice
Benefits of Exit Interview Outsourcing
1. Increase Manager Effectiveness: Employee exit interviews provide feedback that can enhance the understanding and experience that managers have of managing people and organizations.
2. Increase Attraction of Candidates: Employee exit interviews can be seen by prospective employees as a sign of positive company culture. They can be regarded as a caring and compassionate tool and as a sign that the company is capable of exposing itself to criticism.
3. Reduce Training Costs: Employee exit interviews can generate useful information for training needs analysis and the training planning processes. Employee exit interviews can help identify gaps in specific job related skillset that can be addressed through focused and more cost effective training.
4. Reduce Employee Turnover: When companies find out why employees are leaving they can work to diagnose turnover and retain top talent in the company. Employee exit interviews also communicate to employees that a company cares about their opinions even as they are walking out the door.
5. Transfer of Knowledge: Most employees are pleased to share knowledge, help a successor or brief management. In the process they can yield valuable information that can be used to enhance all aspects of the organization’s working environment including culture, management, and business processes.
6. Increase Satisfied Customers: Employee exit interviews can provide valuable insight to job related issues with a company’s products or services. Addressing these issues can lead to greater value for costumers. Employee exit interviews can provide employee feedback that can increase employee satisfaction. More satisfied employees often leads to more satisfied customers.
7. Improve Orientation (Shorten the learning curve): Employee exit interviews can result in valuable transferring of knowledge. Staff exits can provide insights, tips and experiences that can be very useful to their replacement or successor. As a result the new hires accelerate their ramp to productivity.
8. Reduce Absenteeism: Employee exit interviews provide valuable information that can give companies tools to improve work environments, employee engagement, and employee satisfaction.
9. Transfer of Knowledge: Most employees are pleased to share knowledge, help a successor or brief management. In the process they can yield valuable information that can be used to enhance all aspects of the organization’s working environment including culture, management, and business processes.
10. Increase Performance: Employee exit interviews allow companies to uncover potential job related inefficiencies and problems. Addressing these issues can help increase and sustain employee performance.
Exit interview surveys allow a company to identify strengths and weaknesses in other stages of the Employee Life Cycle to improve their talent management practices. Statistical reports and segmented results derived from valid and reliable exit interview companies can help prioritize issues. In addition to identifying challenges, exit interview vendors can identify potential legal liabilities, and promote an ongoing relationship with the company’s alumni. Outsourced exit interview surveys indicate to employees that they are important, and worth investing in. That builds alumni loyalty to an organization and, by extension, improves employer brand and boomerang employee opportunities.