Employee turnover is a difficult metric to analyze properly. It is a common misconception that employee turnover should be minimized at all costs; however, some employee turnover is actually healthy for an organization. In an article for TechRepublic, Patrick Gray explores this idea of “healthy regrowth” versus too much turnover.
Take a Pulse
Most companies use an exit interview to determine why a person is leaving, but these companies often do not exploit their full value as a health check. Employees who are leaving the company are often more inclined to speak more directly and be honest about why they have decided to leave. This information can transform an organization to help them attract and retain talent in the future.
Take a look at which people are leaving the company. If there is a pattern, this may be indicative of a bigger problem. If younger people are leaving in herds, it may mean that your company has become the entry-level career that starts them off for bigger things down the line.
One of the worst things that can come out of an exit interview is uncovering that employees felt as though the organization is a “sinking ship.” Comments regarding not believing in the strategy, or the concern that the company has lost focus on its customers, are probably a sign that leadership needs to change their motivation factors.
The employees themselves may have more information about why the ex-employee left. Just acknowledging that turnover is increasing may be the reassurance people need to believe in their company again and stay. Improving things may take time and may even take years, but turnover can be reduced. Whether you are seeking to address existing issues or if your goal is to move the organization in a new direction, exit interviews will provide the insight you need.
You can read the original article here: http://www.techrepublic.com/article/how-to-use-employee-turnover-as-a-health-check-for-your-company/