Turnover is inevitable. But when it gets out of control and you start losing your top talent, it’s time to start examining what you can do as a leader to stop it.
First, you need to find out what is causing your best employees to leave. One way to get to the bottom of things is to conduct exit interviews with departing employees. Whether you want to hear it or not, they will be able to provide you with brutally honest feedback. They no longer rely on your company for a job, so there is nothing holding them back. In fact, you should encourage them to give you the unvarnished truth.
Here are some exit interview questions you should ask so you can improve your company culture and retain your top tier talent:
Why are you leaving?
Obviously, you want to hear from them why they chose to leave the company. Again, encourage them to be 100% honest about why they want to leave.
What initially prompted you to look for another job?
Was there one instance that made them start looking for a new job, or was it a culmination of things that drove them away? Their answer to this question can give you insight on what needs to change at your company.
How would you describe the culture of this company?
Company culture is extremely important when it comes to attracting and retaining talent. In fact, 46% of job seekers cite company culture as very important when deciding to apply for a job. You might think you have a solid company culture, but asking a departing employee this question will help you determine if your perspective of your company’s culture matches reality.
What does your new job offer that this job doesn’t?
You want to find out what other companies are doing to attract talent away from your company. It could be as simple as higher pay or better benefits. It could also be other perks like flexible hours or more paid time off. Whatever it is, this question will give you an idea of what your competition is doing in terms of recruiting.
Did you have the resources to effectively do your job?
Are you providing your employees with the tools they need to succeed? Their answer could inform future onboarding procedures and training initiatives.
Would you recommend working at this company to friends or family?
If the departing employee wouldn’t recommend your company to others, find out why and fix it.
Did the job match your expectations?
If the job didn’t match their expectations, there are some things you should change. Take a look at the job description and make sure it accurately describes the responsibilities of the position. You should also review your interview process to ensure you are providing applicants with a clear picture of what working for your company is like.
What is one thing you would’ve changed about your job?
Maybe they were unhappy with some of the policies and procedures. Whatever it is they would have changed, it will give you an idea of improvements you can make to help retain the next person who holds this position.
Exit interviews are one of your best tools to retain your top employees. They can help you get to the bottom of ongoing problems you may not even know existed. Don’t risk losing any more vital employees. Start conducting exit interviews now, asking the questions above.
Have you recently lost some of your accounting or finance professionals? We can help you fill those positions with top tier accounting and finance talent. We work with some of the best accounting and finance professionals in the St. Louis area to help them find the next step in their career. Contact us today to learn how we can help your organization.