If your company experiences a high turnover rate and you aren’t exactly sure why, chances are you could benefit from implementing exit interviews. While it may seem counterintuitive to interview an employee who has made their intention to leave your organization clear, exit interviews can offer valuable insight that can improve your hiring practices, increase retention, and save your business money in the long run. Learn more, below.
Gain insight into your hiring practices and corporate culture
One of the greatest benefits of exit interviews is the fact that you are more likely to receive honest feedback than you might get from current employees. This is because employees who are leaving your business do not have to bite their tongues in fear of retribution and can instead offer insight into ways in which your business can be improved.
Increase retention and reduce turnover
By understanding why employees are leaving, you can begin to change your corporate practices to retain your best talent and reduce your turnover rate. When your current employees are happy, they are more likely to stick with your company in the long run and are often more productive during the hours they spend at work.
Save money
One of the most enticing benefits of exit interviews is the fact that they can save your organization real money. Hiring new employees is expensive and it is often much more cost-effective to work on retaining your talented workers. In addition, conducting exit interviews is a much cheaper way to gain valuable insight into your company than hiring a firm to research your company’s strengths and weaknesses.
Ready for your AHA! Moment? Call Allan Hirsh Advisors today!
At Allan Hirsh Advisors we believe in making a difference in the lives of CEOs and Business owners. We help you understand your vision – both personal and professional, discover why you are in business, work with your visions to align them with your “why”, and give you feedback on what is important and hold you accountable for your decisions. All this so you can improve your life and improve the lives of the people around you. If you are interesting in taking your business to the next level then contact Allan Hirsh Advisors to learn how we can Create AHA! Moments for you.
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