We recently wrote about the multiple layers of costs associated with employee turnover. From the basic direct costs of separation, replacement, and training costs to the more complex and less exact costs of transition and opportunity costs, calculating the exact cost of an employee’s departure can be overwhelming. Not only is it a daunting task to try to understand and calculate, but it does not even begin to fix the original issue of lowering the total cost of turnover.
In order to truly understand the reasons for employee departure, organizations must realize there is strategic information that should be secured from the talent that has left the organization. The organization needs to get the truth from former employees about the company, the job, their supervisor, and what the company is doing or not doing.
The best way to do this is not through a survey with canned responses the employee does not get to choose. It is not through internal interviews with an HR representative because employees likely will not want to burn a bridge at the company.
The best way to garner the actionable intelligence from former employees so you can understand the reasons for employee departure is through an objective third party who conducts interviews that:
- Drill down for multiple reasons why the employee left the organization.
- Allow the former employee to provide their own reasons as to why they departed.
- Allow the former employee to deliver more candid responses to the probing questions.
Simply conducting internal surveys with former employees is not enough. There is more intelligence to be collected in order to help understand the reasons employees depart from an organization.
If your company is interested in discovering exactly why an employee left, and what the organization could have done to prevent it from happening, it is imperative to partner with an organization that conducts interviews with each former employee.After understanding those reasons and implementing change within the organization, the overall turnover rate and high turnover costs will lower significantly.
We know why your employees are leaving. We are your objective third party that uncovers the REAL reasons employee leave, and not just the canned responses surveys offer. Give us a call at Work Institute. You’ll be happy with the results.