By Dr.Gaurav Hirey
Sripad who has worked with the company for seven years has now resigned. The HR manager conducted an “Exit Interview” with him and found that Sripad resigned because he got a better growth opportunity! In the last seven years with the company Sripad was promoted five times, he joined as a fresh graduate trainee and at the time of exit, he was leading an independent team as a Senior Manager! How is “leaving for growth opportunity” the reason for his exit?. This feedback failure is a common event that gets repeated time and again at most companies. The stated reasons for leaving are becoming obvious and very predictable!
The exit interview is dead!
Exit interviews are conducted to collect feedback from outgoing employees and apply the learnings from that feedback to improve employee satisfaction, engagement, and retention. But as the new age has bought on a new way of connecting and collaborating, the age-old processes are unable to adapt and keep up with the need of the hour. The “Exit Interviews” have started throwing up predictable and standard reasons becoming ineffective and a waste of time for all. Many companies today either do not conduct them anymore or if they do it has become a tick box exercise that does not add value. The “Exit Interview” as we have known it is all but dead!
The new paradigm
The digital age brings with it the need for continuous feedback and sensing systems. Where employee satisfaction and engagement are measured daily. Merge that data with the productivity data and you have a new way of looking at employee engagement. Many companies are now realising this and since exit interviews are failing to provide actionable insights the need for a new and different approach to employee retention is now critically felt.
Companies are taking a holistic approach to employee exit. Using technology today it is possible to monitor continuously how employee engagement & satisfaction impact productivity. Intelligent technology can also help recognise and identify areas of employee concerns. It can predict flight risks and identify the real reasons why employees are leaving the company.
Exit interviews focus on the reasons for employee leaving and miss identifying the trigger for the reason that is causing the exit. We call this the “Exit Trigger” which is the real reason why the employees’ exit. This is critical for the companies so that they can fix the trigger and substantially impact business results!
Continuous sensing tools, pulse surveys, intelligent engagement nudges, and many such new initiatives are being currently being experimented which are easily able to replace the exit interview. It truly is the right time to discard the “Exit Interview” and adopt a continuous monitoring system that can significantly impact business results!
The author is the Founder & CEO, GoEvals.
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