The cost of replacing an average employee is at least 150% of compensation and up to 400% for executives. That does not even include the cost of lost productivity and low morale. Exit interviews help reduce unwanted turnover and pays for itself many times over.
- Our program combines confidential, third-party exit interviews, data analysis, and comprehensive reports that tell the causative versus contributive reasons for turnover, and identifies trends.
- Typically, internal exit interviews capture less than 15% of exit data. Our program captures 60% to 85% and asks targeted, customized questions that provide in-depth, actionable information. Interventions can then be monitored and measured.
FEATURES AND BENEFITS
- Data is reported by site, division, department, age, ethnicity, gender, tenure, or any other dimension
- Data can be sorted into retired, promoted, terminated, or any other groupings
- Information is reported in user-friendly charts and graphs tailored to your specifications
- Reports help managers address a wide variety of issues such as: communication, supervision, co-workers, training, favoritism, accountability, benefits, discrimination, empowerment, micromanagement, resources, career growth, income, and more
- Early warning for “Red Flag” issues alerts you to possible litigation
- The Comeback Campaign can help you re-hire former employees
Why use exit interviews for retention?
- Manage turnover to evolve your organization for greater effectiveness
- Retain valued employees
- Target improvement opportunities; track interventions; measure the difference
- Identify criteria that contributes to employee satisfaction