Many people dream of becoming entrepreneurs, and often the biggest...
Letting technology do the heavy lifting for certain monotonous tasks...
Benefits administration can be a game-changer for small...
Choosing the right accounting method can significantly impact...
January 18, 2022
An exit interview is a conversation between a business and a person who is separating from the organization. Employers may opt to conduct these interviews in person, over the phone, by videoconference or through a written or online survey. Companies conduct exit interviews primarily to: • Determine the reasons behind an employee’s resignation. • Derive information that can help you better understand employee turnover. • Gather constructive feedback for improving the work environment. • Determine underlying problems to avoid letting problems fester. To keep your top performers and attract more of them, it’s essential to understand why an employee is departing and what might make them stay. A properly conducted exit interview gives you an opportunity to hear their honest feedback and a chance to improve on areas such as: • Job roles and responsibilities. • Training and development opportunities. • Leadership and communication across the team. • Company culture, mission and policies. • Work-life balance. • Benefits like compensation, paid time off and retirement. Here are the best questions to ferret out the employee’s reasons for leaving so you’re better-positioned to encourage others to stay.
This question helps you home in on both what attracted the employee and what drove them away. The latter could be anything from issues with their team to work culture, from personal problems to a higher salary or myriad other reasons.
The answer to this question helps you understand their criteria for choosing a new employer. It’s a chance to gauge what your competitors are doing better than you from an employee’s perspective. For example, work-from-home and other flexible work arrangements have become the new normal. Are you meeting these expectations?
Documenting the positive experiences of a departing employee is just as important as identifying the negatives. You want to hear about their positive experiences and what made them feel stressed and anxious. “I would encourage it to be a dialogue about the highs and lows of the job, rather than focusing on the end point,” said Anna Oakes, Quartz’s head of people.
Companies with a great work culture are better at employee retention. This question helps you assess your company’s culture from an employee’s perspective. You may also specifically ask about diversity and inclusion, and about remote-work policies.
If you want people to stay for the long run, you need to provide the tools and development opportunities for career growth. Asking this question should elicit whether the departing employee found the role’s growth opportunities acceptable and on par with industry standards.
The answer to this interview question can help you optimize the technology your employees have access to. If employees don’t have the digital tools required for effective work or communication, they may leave due to the fear of becoming unmarketable.
People enjoy working in a team when their opinions and viewpoints are heard and considered. It may turn out that in this employee’s view, your company doesn’t allow space for staff to grow or is dismissive to employee perspectives, which is actionable information for you to improve retention.
Getting constructive feedback and feeling appreciated are key to employee satisfaction. By analyzing the response to this question, you can improve your engagement efforts and recognition strategies. You can also ask whether they received timely feedback about their work and appreciation for their contributions.
Since the pandemic set in, employees have increasingly been seeking a better work-life balance. Many employees are ready to resign or find a new job if they can’t manage their personal life with work. These follow-up questions can help further assess work-life balance: • Did you often stay late or take work home? • Do you find the leave policies fair and inclusive?
Companies that maintain good terms with departing employees may have a chance to rehire them once they glean deeper insights about the market and competitors. This should be an open-ended question. Avoid being defensive, and gently ask for suggestions for improvement.
Asking this question at the end of the exit interview could elicit other factors not touched on already.
Our team is made up of seasoned professionals who bring years of industry experience to the table. You gain a trusted advisor who understands your business inside out.
Say goodbye to the hassles of hiring, training and managing in-house finance teams. You will never have to worry about unexpected leave of absence or retraining new employees.
Whether you’re a small business or a global powerhouse, our solutions scale with your needs. We eliminate inefficiencies, reduce costs and help you focus on growing your business.
Benefits administration can be a game-changer for small businesses aiming to attract and retain top talent. While salaries remain an...
Choosing the right accounting method can significantly impact how you track financial performance, manage taxes, and plan growth. Two common...
Bootstrapping—financing growth through internal cash flow—is a hallmark of many successful startups. But as businesses mature past their initial stage,...
In today’s business landscape, technology is more than a convenience—it’s a strategic asset that can supercharge growth. But as you...
The month-end close can feel like a perpetual scramble—collecting invoices, reconciling accounts, fixing last-minute errors. A drawn-out close not only...
Overhead costs—from utilities and rent to administrative staffing—can quietly swell until they erode profit margins and slow your ability to...
Growth triggers a tidal wave of financial complexity, multi-entity operations, new product lines, overseas expansion, or investor relations. If your...
Mergers and acquisitions (M&A) can dramatically alter a company’s trajectory—unlocking new markets, technologies, or customer bases. Yet, many deals stumble...
Working capital: The difference between your current assets and your current liabilities. It’s a key barometer of financial health. While...