Some employment turnover is good. If somebody leaves, hire a better replacement. Exit interviews are a necessity, even though being assigned to conduct one may not be the highlight of an HR employee’s day. From a broader perspective, grouping results of several exit interviews may present strategic possibilities that should not be ignored.
As a rule, a lot of companies push to have exit interviews conducted. Too many give only a cursory look at the results, and unless there are fireworks, they move on to other matters. Used strategically, analyzing exit interview data can reveal patterns, motivate your HR people, and help with retention. KeystoneHR has developed a package to facilitate conversion of termination data to longer-term advantage. It includes a policy, a sample list of suggested termination codes, and a spreadsheet for recording your data.
Whatever you are doing now for Manpower Planning would be enhanced with this process. It provides for predictive analysis, including potentially projecting when, where, or under what circumstances issues may surface, revealing opportunities. Imagine having enough data at some point to warrant creating an algorithm or employing Artificial Intelligence to project upcoming challenges and reveal countermeasures?
Even a spreadsheet with minimal information can suggest actionable issues (and what data you already have may be integrated). Possibilities could include projecting in which quarter re-training is most needed or historically what the best month is for launching a new process. Use of this process may flag policy violations and help prevent wages from being delivered beyond a pay through date. At $5, this Best Practices process can bring ROI before it hits your P&L statement.
OUR CONVERTING TERMINATION DATA TO STRATEGIC ADVANTAGE PACKAGE (SKU PK11) has everything needed to draft your own plan. It includes a policy in Word (SKU JL12), and in Excel – a spreadsheet for recording your own data (SKU JL13). As with all of our documents, you can see a brief description and usually review the first page prior to purchase. Drop in your logo and specifics and make it your own. KeystoneHR’ has earned the PCI Smart designation signifying your data is safe.
KeystoneHR offers Best Practices focused HR and related policies and documents, training, consultation, and project work. With over 40 years of progressive HR experience in Fortune 500 companies and upper-end LLC’s, our team is poised to help. See our website – KeystoneHR.com. KeystoneHR – Best-in-Class helping Best-in-Class.
