Why you need the right employee exit strategy

June 30, 2017 9:34 am Published by

Why you need the right employee exit strategy

Most organisations don’t want to see high levels of staff turnover and often revamp their HR processes in order to help prevent it. However, there will always be individual employees whose current needs simply cannot be met by an organisation. But there is no need to despair, employee turnover is all part of normal business life and that’s OK, what employees must do is invest in the leaving process.

As employees leave it is essential to have a strategy that manages their exit, because just like HR teams focus on properly on-boarding new hires with orientation sessions, they must also have a proper strategy in place for when employees start fleeing the nest.

But why invest time and resources to engage with people who have decided to leave?

Although it may seem counterproductive to focus on employees exiting a company, off-boarding is one of the most critical important yet neglected areas of talent management today and the benefits are hard to deny. It’s necessary in order to help your business overcome talent turnover and can have a dramatic impact on organisational growth and performance.

Additionally, it can provide organisations with the insight they need to enhance other areas of talent management such as recruitment, performance, and retention and it can have the great benefit of convincing the best talent to return to work for your organisation in the future: the so called boomerang employee.

 

Desiring to work
at a Great Place to
Work-Certified™
organization

Enter Your Details

So, what are the steps best taken to engage with a departing employee?

Schedule an exit interview – Ensure that an exit interview is scheduled for the employee who resigned with the goal of gathering as much information and insight into why the person is leaving. For example, if the reason an employee is leaving is due to an offer they just couldn’t refuse, it might point to a salary discrepancy with the rest of the industry and that internal salary reviews are overdue. Or the employee might cite work-life balance as the primary reason for leaving, which could mean your company is not making work-life balance manageable

Develop alumni groups – Alumni programs are powerful tools to improve recruitment strategies, especially to passive candidates.  provide insight into employee engagement and even expand the business. Although many former employees have been spearheading these groups, employers need to take a role in creating, managing, and cultivating these programs. Companies can participate in social media discussions, create portals for engaging alumni, and provide information on job opportunities, corporate social responsibility and additional incentives.

Employee referral programs – Since employee referral programs are often considered the most effective recruiting tool for sourcing talent, organisations should consider expanding these programs to include alumni. Organisations should include alumni in employee referral communication strategies and also provide former employees with the same incentives they would provide existing employees.

Employer branding – Organisations need to treat their alumni with the same level of attention and support that they show their customers. With social media on the rise, a poor alumni strategy can negatively impact the employer brand and directly impact the bottom line.

Invest in technology – Development of technology can have a dramatic and cost effective impact on an off-boarding strategy, not only to ensure compliance, but also to provide a way to engage rehires. It is possible to automate the off-boarding experience including exit interview survey and the establishment of alumni portals. 

It is clear that with the right exit strategy implementation talent from the past have the potential to be revitalised and turned into the best of your present and the future.

  •  
    8
    Shares
  • 8
  •  
  •  
  •