Created for: Talent Management Solutions www.retensa.com (212) 545-1280 Uncover Why Your Employees Quit: The Future of Exit Interviews Exit Interview Research Study Results Report Highlights Host: Laura Randazzo, VP of Compliance Aurico Guest Speaker: Chason Hecht, Founder Retensa www.aurico.com | 866.255.1852
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Created for:
Talent Management Solutions
www.retensa.com (212) 545-1280
Uncover Why Your Employees Quit:
The Future of Exit Interviews
Exit Interview Research Study
Results Report Highlights Host: Laura Randazzo, VP of Compliance
• Modern organizations are consistently challenged to retain top
talent, regardless of economic climate.
• Retention will not get easier : In the ~70 year history that BLS tracked
data, as unemployment decreases, turnover increases.
• Exit interviews are the only tool that can capture “Primary drivers” of
employee turnover.
Research Study Goals:
1. Provide a benchmark for exit interview programs
2. Capture all exit interview methods and variations
3. Measure the impact of exit interviews on performance
4. Establish Best Practices in conducting exit interviews
www.aurico.com | 866.255.1852
Talent Management Solutions
www.retensa.com (212) 545-1280 6
Exit Interview Research Study: Parameters
Retensa’s Research Division developed a 40 item
survey that includes questions on:
• Key organizational characteristics
• The methods currently used to conduct exit
interviews
• Exit interview effectiveness
Of the 353 respondents in EIRS;
• 295 completed majority of survey questions
• 75% of organizations currently conduct exit
interviews for all units
• 18% of organizations conduct exit interviews for
some units
• 7% do not conduct exit interviews at all
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1. Separation: A current employee’s departure from the organization for any reason
2. Resignation: All Voluntary separations
3. Termination: All Involuntary separations
4. Participant: Those who complete an Exit Interview
5. Observer: Managers or HR department who comment or make observations about employee
6. Exit Interview: Conducted at the end of an employee’s tenure (can be 360 view)
7. Post-Exit interview: Conducted 3+ months after separation to increase “boomerang” effect
8. Confidential: Demographical information may be associated with participant but individual responses are not published
9. Anonymous: No personal information is provided or linked to an individual survey
10. Web-Based: Web-based exit interviews are sent directly to your separating employees' inbox, where they can complete the exit interview in privacy at their convenience. VARIATION: “Kiosk”-style walk up webpages for anonymity
11. Voice-Based: Often over the phone, these exit interviews are most appropriate when organizations want to know the complete picture.
12. Paper-Based: For organizations in manufacturing, retail, mining, telecommunications, transportation, or other field-based industries whose employees may not have Internet access.
Who Is Responsible for Compiling/Reporting Information, Reviewing/Evaluating Information,
and Implementing Change Using Information from Exit Interviews?
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What do Exit Interviews cover?
Which Areas Are Covered with Specific Questions in Your Exit Interview?
0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100%
Reason for Leaving
Compensation/ Benefits
Employee Perception of Organization
Supervisor/ Manager Relationship
Opportunities for Advancement
Position/ Job Responsibilities
Treatment of Employees
Training/ Development
Organization Leadership
Organizational Culture
Colleague/ Peers
Company Reputation
Nature of Work/ Industry
Work Life Balance
Physical Work Conditions
Performance Appraisals
Reason For Joining
No Specific Areas
Other
95.7%
85.5%
85.5%
82.1%
77.9%
69.8%
69.8%
68.9%
66.4%
64.3%
57.4%
52.8%
51.1%
43.4%
42.1%
40.4%
26.0%
3.0%
1.7%
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Talent Management Solutions
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Research Study: Selected Results
Exit Interviews Are Typically:
Confidential 58%
Neither anon. nor
conf. 36%
Other 5%
Anonymous 1%
As close to resignation
notice 31%
After resignation and prior to separation
60%
Within a week after separation
5%
1- 2 weeks after
separation 2%
2 Weeks or Later After separation
2%
5 or less 8%
6-10 26%
11-15 30%
16-20 24%
21-30 10%
More than 30
2% 0% 50% 100%
Open-Ended
Likert Scale
Yes/No or True/ False
Multiple Choice
Rank Order
Single Choice
Other
85.2%
47.0%
15.2%
13.0%
8.3%
3.5%
1.3%
Voluntary Separations: Typical
Advance Notice before
Resignation
Voluntary Separations: When Are
Exit Interviews Typically
Conducted?
Number of Questions on a Typical
Exit Interview
Types of Questions on an Exit
Interview
0% 50% 100%
Leave with no notice
0-1 Week
1-2 Weeks
3-4 Weeks
5-6 Weeks
7-8 Weeks
9-10 Weeks
11 Weeks
1.3%
1.3%
86.8%
9.0%
0.0%
0.4%
0.0%
1.3%
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What changes are made from Exit Interviews?
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
22% 24%
32% 35% 38% 39% 45% 45% 47% 47% 51%
57% 63%
70%
64% 66%
62% 57% 52% 53%
46% 43%
50% 45% 40%
38% 33%
26%
14% 10%
6% 8% 11% 8% 9% 12%
3% 8% 9% 5% 4% 4%
No Modifications Slight Modifications Major Modifications
More change Less change
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Talent Management Solutions
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Advanced Research Study Analysis
Advanced statistical analysis of the study results provided in the
Retensa’s Exit Interview Research Study Report includes insight of comparisons
across organizational demographics and between different practices
themselves.
The advanced findings highlight statistically significant differences found
between organizations by varying demographics:
1. Industry
2. Size of Workforce
3. Voluntary and Involuntary Turnover Rates
4. Percent Seasonal Workforce
5. Percent of Workforce that is “Generation Y”
6. Modifications/Improvements
7. Implementing Changes
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Talent Management Solutions
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Exit Interview Program Change Outcomes
Results derived from valid and
reliable exit interviews benefit
organizations in the following ways:
1. Increase Manager Effectiveness
2. Increase Attraction of Candidates
3. Reduce Training Costs
4. Reduce Turnover
5. Improve Customer Experience
6. Improve Orientation (Shorten the
Learning Curve)
7. Reduce Absenteeism
8. Improved Transfer of Knowledge
9. Increase Performance
www.aurico.com | 866.255.1852
Talent Management Solutions
www.retensa.com (212) 545-1280 15
Best Practices: Future Program Standards
1. Organizations that have uniform exit interview(s) more strongly agree that the information collected is valuable to organizational improvement
2. Exit Interviews are most effective when they are performed 2 weeks before to 2 weeks after separation. Post-exit interviews are most effective 3 to 6 months after separation
3. Consider Confidentiality, not Anonymity, for highest applicability of results
4. Mixed methods provide most cost-effective approach a. Voice-based for high level / high value / high turnover
b. Web-based for others
c. Minimize paper-based when possible
5. Use dedicated Exit Interview Software to automate and simplify deployment and reporting, look for: a. HRIS integration
b. Multiple survey capability
c. Multiple method capability
d. Multiple observer capability (HR or Manager)
6. In order of ROI value, Exit Interview populations should include: a. Voluntary, Transfers, Involuntary, Retirees Contingent/Project staff
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