I've written previously about the importance of capturing knowledge prior to people leaving your company, especially with the Baby Boomer generation leaving in huge numbers. I've also shared some tips on how to conduct a good exit interview.
Capturing knowledge is one good reason for ensuring your exit processes are good. Improving the employee engagement for those remaining employees is another. New findings reveal a third benefit of a significantly improved public image.
It's widely known that disgruntled people will share bad customer experiences much more widely than good ones, and it appears that employees do a similar thing.
Corporate Executive Board Co. aggregated findings from a series of exit interviews and found that more than 75% of departing employees would not recommend their employer to others. This figure has risen significantly from the 42% that would do likewise in 2008. The 2011 data were based on exit surveys of more than 4,300 employees from 80 companies, most with more than $2 billion in annual revenue.
Brian Kropp, managing director with CEB said that the scores reflected perceived poor treatment during the downturn "Companies were blunt and rough and tumble with their work force. They created a sense that 'the company doesn't care about me," he said.
Having a good relationship with 'alumni' is crucial to future recruitment efforts. A month ago, Southwestern Energy Co. hired a new recruiting manager tasked with building a database of key alumni who left in the last few years, in the hope that they can ask them to fill or refer people for future openings.
Alumni could also be invited to continue contributing to company blogs and social media sites and might even continue to have access to part of the company's intranet, in the hope that they stay better connected
The company found that with competition for talent fierce, maintaining good relations with alumni was crucial in attracting the talent they required.
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