Making Exit Interviews Count

In the knowledge economy, skilled employees are the assets that drive organizational success. Thus companies must learn from them—why they stay, why they leave, and how the organization needs to change. A thoughtful exit interview—whether it be a face-to-face conversation, a questionnaire, a survey, or a combination—can catalyze leaders' listening skills, reveal what does or doesn't work inside the organization, highlight hidden challenges and opportunities, and generate essential competitive intelligence. It can promote engagement and enhance retention by signaling to employees that their views matter. And it can turn departing employees into corporate ambassadors for years to come. Unfortunately, too few leaders pay attention to this tool; their programs fail to either improve retention or produce useful information. The authors believe this is owing to poor data quality and a lack of consensus on best practices. They suggest six overall goals for a strategic exit interview process and describe tactics and techniques to make it successful. Among their recommendations: Have interviews conducted by second- or third-line managers. Make exit interviews mandatory for at least some employees. And, because standard interviews enable you to spot trends but unstructured ones elicit unexpected insights, consider combining the two approaches in semi-structured interviews.