Exit interviews and reducing turnovers

I started noticing a hiring war between the big companies. Companies are being more and more involved in the life of their employees. Well, since we refer to the employees as human capital, it makes a lot of sense to do so.

Companies in Spain just introduced days off for women on their periods. Companies are introducing Diversity Equity Inclusion (DEI) experts in their teams, and reports show that this has a direct impact on the Return of Investment (ROI). Therefore, those big multinationals are becoming the only desirable option for the employment of future generations. The companies offer ompansation and benefits packages from paid paternity/maternity leave, hybrid working schedules, disability support, fees for wellness programs, care support, care stipends support for parents who live far from their children, pets care, game rooms, fertility programs offered by companies, travel bonuses, family members bonuses, apartment fee etc the list just go on.

Above all, those companies are using state of the art software solutions, so that the employees don't need to struggle for hours to do something that could be done in 30 minutes. If you are asking me, only having this benefit as a way of making your work life simpler and easier is why the future workforce will only go for employers that are not outdated. At the end of the day, when it comes to candidate or employee experience, it is always the small things that matter. For example, candidates report that a common sense etiquette is everything they look for. In other words, how to respect and treat each other. When we talk about staff, its all about treating people with dignity and respect. This, in my opinion, should be a rule for the treatment of all customers (internal and external stakeholders). Another, small but important, procedure is an exit interview before an employee leaves. When doing exit interviews its important to ask the employee about everything they feel is wrong, so that a proper dataset can be collected. Based on the feedback and the quality of the collected data, these surveys should become the basis for changes in the organization.

Then, one might ask how many global companies are actually doing exit interviews and off boarding procedures? If you think about it, it is major source of information for change management. If you are global, multinational company and you have 500 employees leaving on a daily basis, a lot of them leaving with a bitter taste in their mouth, well it is a sign for alarm.

This is the field companies don’t pay enough attention to, yet they let thousands of people talk badly about them. In my opinion, a lot of this can be avoided by simply improving the communication in the organization. Companies are so focus on finding talents and growing them. However the lack of taking feedback from those who are leaving, leaves them with a bitter taste in their mouth.

Wouldn’t it make a huge difference just to collect data when off-boarding and use that for change management?

What is your opinion about this? Do you think companies should pay attention to exit interview's and are they doing it?