What is an Exit Interview? and Why is it important to have one?

In your opinion, is exit interviewing just a formality, or is it actually beneficial to the human resources department?

Exit Interview is not a formality, on the contrary it helps. It helps in reshaping the Human Resources policies, which might have become outdated in this ever changing world and by these changes, you are retaining talent within the organisation.

Companies spend  a good amount of time and money  to recruit, interview and train new employees. The revenue lost when these employees resign is substantial.  To reduce these kind of losses, there is need to find out reasons for exit so as to arrest employee turnover and improve the stability. Generally Exit interviews may deal with the following topics, while carrying out the survey or exit interview.

• Job satisfaction
• Reasons for Quitting
• Frustration level of exiting employee
• Efficacy of HR policies or procedures.
• The work environment
• The job itself
• The culture of organisation
• Quality of supervision
• Compensation and benefits packages

To put into statement, the Exit Interviews not only help in improving the effectiveness of selection process and organizational performance but also helps in enhancing the employees engagement and possible litigation issues.

Exit interviews also allow employers to maintain good relations with departing employees, keep an open line of communication. 

The final exit interview also provides the opportunity for an employer to understand why valued members of staffl eave and what can be done prevent it happening in the future.

Type of interview is generally conducted at the time when the employee leaving organization just to know the feelings of the employee about his or her job or institution.

it is important because of :

1 to know what are reasons that employee is leaving

2.The deficiencies that employee feels in culture and working conditions/ system /facilities of the organization.

3.use the exit interviews information to make the decisions improving the human resources process or organization culture by taking proper actions.

It is a practice to have a word with the employee leaving the organisation. 

It is important for, it gives an idea of the organisation, its culture, workplace etc from the employee perspective.  And the information gathered can be used to take corrective and preventive measures to ensure that attrition remains low.