The greatest mistake any firm can make is to let a high-potential (HIPO) employee resign without a proper and thorough exit interview. During this time, the firm can learn where to improve while continuing to build a long-lasting relationship with the employee.
According to BambooHR, 72% of employees have rethought their career paths resulting from the 2020 pandemic. However, that doesn’t mean they follow through with the thought. The number of employees leaving their jobs right now is a bit lower, but companies continue to suffer from it, nonetheless.
Why Are Employees Leaving Their Jobs Right Now?
People find that they would rather change careers and find something remote rather than deal with people who are difficult to work with daily.
More than half of modern workers have considered changing jobs because of a coworker.
Here’s How to Fix the Problem
Create an inclusive offboarding process that secures a long-term relationship
Firstly, know that every employee is unique, and not everyone will have the same offboarding needs. Some employees may not feel obligated to continue the professional relationship either.
Here are some things to keep in mind during the exit interview:
You must cover all legal obligations
Maintain a cordial environment. One that encourages the employee to understand that the trust is still there
Hear what they have to say about their experience with the company, why they chose to leave, and how they feel about the relationships they built while working here.
Ensure the process aligns with the company’s HR objectives and cultural motives.
Remain thoughtful and dedicated to the process
Focus on the employee’s growth throughout their time with the company and where they see themselves in five to ten years.
Harvard Business Review believes that a failure to create a detailed offboarding process is a mistake made by companies that lack a strong company culture. If you want to have secure morale, offboarding interviews are equal to onboarding interviews.
Don’t just say you’ll keep in touch; actually do it!
Maintaining updated alumni information is critical. If the employee says they would like to continue their relationship with the company post-offboarding, then it’s important to do so. Add them to the alumni email list and make sure there is always an option for them to update their contact info on the website.
Be sure to also extend the offer of being a professional reference for the person in the future. When an employee contacts you to be a reference, always keep in touch with them until the process is complete.
Add new opportunities for growth within the company wherever possible
According to World Economic Forum, 65% of people that quit their jobs in the last few years have entered entirely different industries.
The more diverse the job opportunities within a company, the more likely the employees will stay. This is especially true for companies that offer paid education for their employees!
Morale is always changing, and with millennials taking over the workforce, companies have to adapt to their wants and needs now. Hiring a recruiter can help smooth this process. Recruiters are trained to know what millennials look for in their careers and can help you find the right employees that will help your company grow.
There’s no time to waste when the fate of your company is on the line.