Exit Interviews-“Sometimes we’re so busy mopping up the water that we forget to turn off the faucet”
The Exit Interview
One of the best ways to get honest feedback is to ask employees who no longer rely on you for their livelihood about their experiences. Employee exit interviews can reveal powerful insights that you wouldn’t have access to otherwise. Having a qualified professional conduct key leadership exit interviews can yield a wealth of information that can be used to reduce turnover and improve productivity. Making a former employee comfortable enough to share constructive criticism and knowing what questions to ask is critical in this process. Companies with industry best turnover rates are laser focused on this process.
In most companies this extremely important step is not done at all and when it is it’s often delegated to a mid level individual in HR who is unqualified to do the job. There is typically no trend analysis and senior leadership rarely reviews the valuable feedback. Most companies claim that people are their most important asset and yet when quality leaders are heading for the exit sign they don’t take the time to ask why.
Using a qualified third party professional who can extract unfiltered information and provide trend analysis gives senior leadership realtime feedback about what’s happening in their company. What CEO, President or Vice President would not welcome that! When this is done well it also creates a high level of accountability with HR executives and operational managers. If I now each of my departing leaders will have a safe environment to speak about their experiences under my leadership and that information is going straight to the top, I am going to be laser focused on the health of the workplace environment.
Naturally not every departing leader is going to have constructive feedback on the way out the door. Leaders who were terminated for moral issues aren’t worth interviewing because you’re not going to get honest feedback. Also, senior leadership needs to be careful how they handle negative feedback from former employees. If the trend is that a key leader seems to be the in the middle of most departures, it could be that individual needs additional training in a specific area or leadership. If the hammer drops every time constructive feedback hits the desk of a VP, it will create a very unstable environment with your current leaders team.
Many companies continue to ride the unpleasant and painful merry-go-round of leadership turnover. If we could attach and annual $$$ amount to the cost of rotating key leaders it would be shocking. Few organizations fully understand the importance of this critical step in the employment process.
Here at Trinity Hospitality Partners we do provide this service complimentary to our retainer clients.
Let us know if we can help!