The year 2016 was called the “year of the job hoppers.” The Millennials, particularly, are prone to job hopping. A survey by Gallup shows 21% of Millennials said they changed their job within a year. Compared to the baby boomers, twice as many Millennials change jobs in a span of one year! The U.S. economy takes a hit of $30 billion every year thanks to this turnover!
The study also showed that close to half the Millennials are not willing to continue in the same job a year hence.
Why conduct exit interviews?
Exit interviews are the most ideal platforms to capture the details of why even the most talented employees want to quit. The exit interview is also the time when you can identify the red flags within the organization in terms of processes or personnel and initiate remedial action.
A well-organized exit interview can also capture details on what the employee thinks about the company culture and ethics, day to day processes, motivation levels and resources.
Since the employee has resigned, the possibility of he or she coming forth with an honest opinion on the management and the processes is higher. Exit interviews conducted over a period of time present a lot of data that can be analyzed to recognize common patterns and trends. Overall, exit interviews are a valuable tool for HR professionals and management to prevent talent drain.
Here are some of the exit interview questions that can help get some valuable insights:
Why are you quitting the job?
Obviously, this is what HR professionals want to know! Giving a set of options may work better than leaving it as an open ended question. Most employees may just give vague answers when there is an open ended question or not be inclined to talk about top management concerns. Provide multiple choices by including top management, supervisors, work environment, and colleagues. A study showed that an incompetent or rude boss is the reason why 50% of employees quit.
How did the job measure up to your skills?
HR professionals can get precious information from the answers to this question. The answer the employee provides can help HR professionals find out if they hired right or if there were wrong expectations from the employee. Analyzing these answers can help focus on getting the right fit for the job that match the skills and expectations.
Were the required resources available?
Often times, while expectations from management are sky high, the organization falls behind in providing the right resources that help the employee meet these high expectations. The answers may provide the chance to review if necessary training and support in terms of technology or other tools are available in the organization.Back to blog