Today it is not the kind of conman formula I am going to profess on the subject of retention. Attrition and exit interview go hand in hand in every pocket diary of the HR. This is set in a contemporary style when an employee voluntarily leaves an organization for 'n' number of reasons. The interview is to provide feedback on why employees are leaving, what they liked about their employment and what areas of the company need improvement. It is definitely producing results to ascertain many facets - some genuine, some dark, some intoxicating, some powerful, some uncompromising and some provocative among others.
In most cases pertaining to the super existent exit interview which could head in one direction, I insist precaution better than cure theory -- and it can be an EXIST interview. It is unlikely that it be considered synonymous to motivation, counseling, retraining or reprimanding. It does make one wonder if this exercise in the very fast world, busy schedules and hectic workmanship can be possible, to do good. Don’t just trust me, believe in.
More interesting are the under-layer of the stories. It must be noted, without raising eyebrows, that the stories sound similar in all industries. It remains for me, an updated and timely version of addressing retention.
“There's a famous grouse among HR managers in BPO companies — how to put a lid on attrition. Unable to find answers many BPOs have come to live with it. Okay, 60-65% of the agents are always going to leave every year.”
“Banks are likely to witness up to 50 per cent increase in attrition this year compared to last year as new players entering the sector would prefer seasoned industry professionals to grow their operations, say experts.”
A report said, businesses risk losing a large percentage of their millennial workforce to quick attrition, according to the India findings of the Deloitte's fifth annual Millennial Survey.
The hospitality sector has unanimously voiced the need for gaining an ‘infrastructure status.’ Also, inadequate talent pool and high attrition rates are the other teething problems in the hospitality industry
The post mortem job analysis of an employee who has chosen to get off there is an exit interview. The attributes for exist interview can follow the same pattern as that of an exit interview:
- Focus on good (larger share) employees who are employed
- Have interview conducted by not just HR, even Supervisor more so people’s manager can.
- Keep the process simple.
- The interview can be an informal tea-time one-on-one exercise.
- Listen to his/her suggestions, decisions put forward
- Assure the individual employee
- Assess and do needful on the information.
And as structured is the exit interview with Must-Ask Exit Interview Questions, we could develop the same model for exist interview.
- What are the current features at workplace?
- What would interest you to perform better in line with allied job particulars?
- What does lead you to accept the new responsibilities in the team?
- What are the possible suggestions to problems if any (allow him don the cap)?
- Are you equipped with product and services to do your job well?
- What is the one thing you are proud to be associated with our company?
- What is the one thing you would ask for strengthening your association with the culture fulfilling the mission of our company?
The answer to the last question can be illustrated with an independent research conducted by me that has reinforced and demonstrates that there are five major components that influence the intention to stay within an employee of any Hotel organization, in diminishing percentage of variance are Performance and appraisals, Promotion, Pay package, Work-Life Balance and Recognition and Career Advancement. These are here to stay and we are here to ensure job satisfaction at every level. Seldom in any organization an employee waits or gets ready for an interview until unless he is charged or awaiting a promotion and of course when he leaves though. This rare kind of interview just to show the employee, we care.
We are looking forward to our contemporary great human capital enterprise restoring respectability and being identifiable. Much more than any tenacity, the desire to upkeep whatever in hand, rightly said “A bird in the hand is worth two in the bush” meaning It's better to have a lesser but certain advantage than the possibility of a greater one that may come to nothing. Take the best and retain that certain advantage in the people who are working with you.